If SHIB reaches the market value of Ethereum, an individual who invests $1000 in Shiba Inu could potentially get a 40x return.
Shiba Inu is still facing bearish pressure, hitting new lows for several weeks. In the midst of the overall market downturn, SHIB has dropped to a bottom of $0.0000173. This reflects a decline of over 34% from its high point earlier this month at $0.00002627.
Currently, Shiba Inu has yet to recover from the downturn and lingers around $0.00001766, with a market value of approximately $10.36 billion.
While supporters expect a significant rebound to occur soon, this evaluation explores the returns individuals who purchased Shiba Inu during its dip today would receive if SHIB reaches the market value of altcoin leader Ethereum.
It is worth noting that Ethereum has also not been spared in the continuous market crash. The current trading price for ETH is $3432, erasing all gains from the past month. Therefore, investors who entered the market this month have incurred losses of over 8% on their ETH holdings.
Nevertheless, ETH still maintains a market value of over $420 billion, equivalent to the valuation of tech giant Mastercard.
Profit from a $1000 Shiba Inu investment with an ETH cap
As of the time of writing, Shiba Inu is being traded at a price of $0.00001766. A $1000 investment would accumulate a portfolio of 56,625,141 (56.6 million) SHIB tokens. If Shiba Inu reaches the $420 billion market value of Ethereum, the value of this investment would be nearly 40 times its current value.
Specifically, SHIB retains most of its current circulating supply, and a $420 billion market value would mean the asset has reached an astonishing value of $0.0007127. To reach this price point, Shiba Inu would have to surge by approximately 3936%.
Therefore, under the assumption that SHIB reclaims the current market value of Ethereum, the $1000 investment in Shiba Inu would be worth $40,356 as of June 23rd. While this is an enticing prospect to aim for, it is not guaranteed.
Time before SHIB reaches $0.0007127
It is worth noting that market analysts hold an optimistic view on Shiba Inu’s potential to cancel another leading zero in this cycle. Meanwhile, analysts from the forecasting portal Telegaon believe that it may take Shiba Inu up to six years to reach the price point of $0.00071.
This timeline aligns with an evaluation from The Crypto Basic last month, which indicated that if SHIB maintains a 100% annual return, it could reach $0.00071 within five years.