How Many Shiba Inu Can Make You A SHIB Crypto Millionaire?
Popular crypto YouTuber Oscar Ramos has 1 billion Shiba Inu $SHIB tokens ($13,405 at today’s price), and by his estimate there is a small chance he can be a millionaire.
See, Shiba Inu currently trades around $0.000013. Its price remains virtually unchanged from 24 hours ago, but it has lost almost 5% from its price seven days ago.
Ramos calculates that Shiba Inu rising to $0.00003 would make anyone who presently holds 33.33 billion $SHIB ($446,789 at today’s price) a millionaire.
To achieve this price target, Shiba Inu would need to rally by more than 100%, which may be tough in this market cycle.
If Shiba Inu eventually rises a digit higher than that, to $0.0003, Ramos would need a little over triple his present stash of $SHIB to say he had a million dollars.
However, the influencer doesn’t see $SHIB’s price ever topping $0.003, as this would give the token a comparable market cap to the trillion-dollar Bitcoin ($BTC)—an unlikely event.
However, $0.00003 could be achievable within 2024. After all, the last time $SHIB traded that high was April 2 this year.
Since then it has been in steady decline, as the price chart for the last three months indicates.
Shiba Inu has some strong support at $0.0000125, but even if the price rebounds back up, it’s likely to drop quickly again, maybe even falling below support, as the patterns suggest a bearish descending triangle could quickly scupper any growth.
With a rising relative strength (RSI) index of 56, $SHIB could be overvalued by the start of tomorrow. A likely spot of profit-taking could sink the price below its current support level.
Shiba Inu’s high-profile price woes are a good litmus test for the state of the meme coin market, but follow the token too hard and investors could
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