The Bitcoin influence has always been the dominant force behind the crypto market. It is one of the leading crypto currency and little bit of its price movement makes other coins to move. There are many coins which react to #btc price changes. Shiba Inu is one of such coin. I know many consider it as another #meme coin and alternate to #dogecoin. However, recently Shiba Inu (SHIB) has made a remarkable impression in the cryptocurrency market.
As the cryptocurrency market enters a bullish cycle, led by Bitcoin, which has recently crossed the $44,000 mark. Shiba Inu (SHIB) has made some strides, enough to get many investor attention. SHIB pulled my attention too after the recent Binance Airdrop scheme on Twitter
Binance is promoting the launch if its own internal #web3 wallet and giving out $500k worth of cryptocurrencies ranging from one SHIB to one BTC.
The Binance Web3 wallet, which was introduced in November, allows users to swap tokens and earn yield. Shiba Inu users only need to make a swap using the Binance Web3 Wallet.
I am yet to make any swap transaction on binance, but this news made me curious to know more on #shib token. The launch of Shibarium, a major update, is expected to impact its price significantly. Like any cryptocurrency, the future price movement of SHIB, is also expected to be influenced by overall market sentiment and specific developments within the SHIB ecosystem.
Google Bard, an AI project developed by Google, has made predictions about the price of Shiba Inu (SHIB) following the upcoming Bitcoin (BTC) halving slated for April next year
Shiba Inu is currently trading at $0.00001034 at the time of writing and is standing at rank #18. Looking at all probability of a price increased in coming days, I was wondering how much of $1000 worth of investment would fetch me if there will be some price movement in coming years. At the current price of 0.00001034, 100 million #shib tokens could be procured for $1,030. (approx.)
Hypothetical assumption
Let see what if there is a price changes occurs and what would be the ROI on my $1000 amount of investment.
100M SHIB @ $ 0.0001
If Shiba Inu surges to $0.0001, my investment would have increased to $10,000. This is over the moon return, considering $1000 of investment. Such an ROI would yield a profit of $8,970, marking an 869% rise.
100M SHIB @ $ 0.0005
Keeping a more realistic approach and being optimistic about a little more. Hoping for a price rally to $0.0005 (this might be insane to talk about) the 100 million tokens would yield a total value of $50,000. The price target would yield a profit of $48,970 on the initial investment.
The expected returns for holders of 100 million SHIB would be substantial at these price point. A meme coin that initially started as an alternative to Dogecoin, it has grown to become a significant player in the crypto space. As #dogecoin is continuously creating a ripple in the market. Owning a little bit of the #shib coin in not a bad move.
#Bitcoin has continued to dictate the direction of the broader market and we are expecting a Bull run with many of the experts expecting #btc @ $100k, while the AI expectation is much higher. It has predicted the price to be around $250k.
Considering all these scenarios, we can expect that SHIB has the potential to surge to higher values. But the crypto market volatility always makes such prediction challenging. It is essential to approach these coins with more caution.
PS : The views expressed in this article is my personal opinions. Do not consider it as a financial advice.
DYOR before investing.
