Ah, the million dollar question, literally. For those who don’t know, Shiba Inu is a very popular cryptocurrency right now. It is a project that was launched on August 20, 2020 and has since gained a lot of attention because at first glance it seems like a golden opportunity to become a millionaire.
At this very moment, Shiba Inu has a value of 0.00005864 dollars per unit, which for many represents a huge opportunity to become millionaires. How would it be? Well, it’s very simple. I, for example, have bought several million units of Shiba. If one day the value of that currency rises to the value of 0.10 dollars, that is, ten cents, I and thousands of people around the world would become millionaires. There are people who, with a unit value of one cent per unit, could enter the select club of millionaires. It is enough to have 100 million SHIB, which at this moment costs 5,864 dollars, but a month ago it cost 2,708 dollars and 3 months ago it cost 767 dollars.
For me particularly it is very pleasant to dream of the prospect of becoming a millionaire sometime in the next 10 years, while I am still in my 30s. For that, the only thing that has to happen is that the price of Shiba continues to rise until it is worth a couple of cents, which is nothing if we compare it with the 62,000 dollars per unit that Bitcoin has reached, the 4,600 that Ethereum costs and the hundreds of dollars of value that hundreds of cryptocurrencies have achieved in today’s market.
In 2013 Bitcoin was worth 110 dollars per unit. Today, almost 9 years later, that value is 62,000, which is a 56,363% growth. If we apply that same growth rate to the value of Shiba in 9 years it would reach a value of 0.033, a value more than enough to make thousands of people millionaires. It would be as if God lent his work to Jim Carrey for a couple of days and he decided that all people’s dreams would come true.
But how realistic is this projection? Can I really become a millionaire in 8 or 9 years if I invest a couple thousand dollars in SHIB today? Well, in this post we will try to answer those questions.
The math behind Shiba Inu
The first thing I will say before going into details is that two weeks ago when I bought my SHIBA INUs while the price was close to 0.000028 I was very intrigued with the idea of becoming a millionaire. I even found it interesting to build a clock that would show me the price of Shiba Inu in real time, while the coin is on its way to the moon.
I built the clock with a 3D printer and using an Arduino. I think that later I can make a post on this topic, explaining step by step how to make your own cryptocurrency tracking clock.
So far I have done very well investing in Shiba, with almost a 30% return on my investment in a period of 15 days. However, when my head went cold and I went back to being my “engineer self” I started to think about the real odds that Shiba Inu would one day reach the value of Will Shiba Inu Reach 1 Cent. I’m not really an economist, financial analyst, investment expert or anything like that. I am simply an engineer and as such I try to find answers to the things that happen around me using numbers.
In the case of Shiba Inu, what more would I like than to become a millionaire in a couple of years. If in 15 days it has given me a 30% profit, imagine how much I will earn after several years. The truth is that, if we analyze the numbers, this probability seems to be very small, at least under the conditions that we currently know.
In order to explain my point we will first need to look at a bit of stock market theory. Specifically we need to know the concepts of Market Cap and Circulating Supply. Let’s see what this is about.
