Investors might require a substantial amount of Shiba Inu tokens to comfortably retire should SHIB ever hit audacious targets like $0.0001 and $0.001.
Shiba Inu’s mission to reach greater heights in this market cycle has faced inhibitions from the bears. This is largely due to the broader crypto market’s inability to breach certain resistance levels, as Bitcoin (BTC) continues to witness roadblocks to its upsurge. In addition, market declines have posed another problem.
Shiba Inu Accumulation Amid Market Uncertainty
The latest market crash occurred on Aug. 5, which pushed Bitcoin below the $50,000 price territory for the first time in six months. Reacting to the crash, Shiba Inu recorded a similar decline, collapsing to a low of $0.00001078 before eventually recovering.
As Bitcoin rebounded, it faced a roadblock above the $62K territory. Similarly, SHIB saw fierce resistance at $0.00001468 on Aug. 11. However, amid the market uncertainty, whale accumulation has prevailed. IntoTheBlock data indicates that bulls have purchased 18.1 trillion SHIB tokens over the past week, with 1 trillion bought on Aug. 11 alone.
Shiba Inu Bulls and Bears | IntoTheBlock
Notably, despite an equal prevalence of selloffs, the sustained purchases stem from optimism among investors that Shiba Inu would eventually make millions out of pennies. This conviction is largely due to its previous uptrend, which saw $12 transform to $1 million over a year and some months.
Such an investment was enough to make some individuals retire. Envisioning a repeat of this success, some market watchers have projected audacious targets. Market analyst Binance Kol predicted last month that SHIB could reach $0.0001, citing the Elliott Wave theory. Meanwhile, market pundit Armando Pantoja expects SHIB to hit $0.001.
Shiba Inu Tokens Required to Retire at $0.0001 and $0.001
The Crypto Basic recently assessed how many Shiba Inu tokens an investor would need to hold to comfortably retire if SHIB reaches any of these targets. At the $0.001 price, an investor holding 1 billion SHIB tokens would be sitting on $1 million, enough for most people to retire with. Interestingly, these 1 billion tokens are currently worth $13,690.
If an investor holds 500 million Shiba Inu tokens, at $0.001, this investment would be worth $500,000. To some individuals, especially in countries with less cost of living, this is enough to retire. Further, those holding 100 million SHIB would sit on $100,000 if SHIB hits $0.001. This might not be sufficient to retire for most investors.
Meanwhile, at a Shiba Inu price of $0.0001, the 1 billion tokens would be worth $100,000. This might also not be enough for some investors to retire comfortably. As a result, an investment of at least 10 billion tokens at the $0.0001 price level might be the sufficient threshold. The 10 billion tokens are currently worth $136,900.
