The post What Do You Need to be a Millionaire if Shiba Inu Only Hits 1 Cent appeared on BitcoinEthereumNews.com.

A market participant might need much fewer Shiba Inu tokens to become a millionaire in USD if SHIB eventually reaches the 1 cent dream. The Shiba Inu success story remains one of the best representations of the cryptocurrency market’s ability to transform pennies into fortunes. According to a CoinGecko report, SHIB’s meteoric surge from 2020 to 2021 turned a $12 investment into $1 million in less than two years. Shiba Inu Investors Continue to Hold This impressive success has played a role in sustaining the optimism around Shiba Inu. Of the total 1.35 million addresses holding SHIB, data from IntoTheBlock indicates that 1.05 million of them have been holding the asset for over a year. This cohort of addresses, aptly called “HODLers,” represents 77% of the total SHIB wallets. Shiba Inu Addresses by Time Held | IntoTheBlock However, it bears mentioning that the number of addresses held for over a year was just 887,380 exactly a year ago. This shows that more investors have continued to hold onto their Shiba Inu tokens regardless of the market conditions. Despite SHIB witnessing a series of declines and occasional upsurges, these investors have remained optimistic. This is due to an expectation of an imminent price rally that could see Shiba Inu reach greater heights. These investors believe SHIB is capable of replicating a fraction of the 2020/2021 rally to create more millionaires eventually. How Much Needed to be a Millionaire if SHIB Hits 1 Cent Most of these market participants expect price surges to certain price targets, such as the $0.01 or 1 cent goal. Amid the bullish expectations, the host of Altcoin Daily recently asked if it’s really possible for SHIB to hit the 1 cent goal and transform investors into millionaires. In March, Lucie, a Shiba Inu ecosystem marketer, stressed that…

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Filed under: News - @ August 14, 2024 9:27 pm