Prominent meme coin Shiba Inu (SHIB) has garnered immense popularity after it turned the fortune of several investors. During its early days, the asset managed to create millionaires and billionaires. Since its debut in 2020, the asset has grown by 1596625.49% up until now. While this growth was seen in the past, the asset could still have the potential to reach better heights. But can the meme coin surge enough for an investor to retire?
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Shiba Inu’s (SHIB) Current Market Situation
Source: Token Metrics
At press time, Shiba Inu was trading at $0.00002134. This comes after a 1.16% drop over the past 24 hours. Throughout the last week, the meme coin recorded a massive decline of 21%. This pushed SHIB even further from its all-time high of $0.00008845.
Source: CoinMarketCap
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Is Retirement With Shiba Inu Still Possible?
Source: Watcher Guru
The location of an individual is a major determining factor in the amount of money needed for early retirement. If in case a person in a nation with a lower cost of living could be able to retire comfortably with a net worth of $700,000. However, the same cannot be said for someone who lives in a wealthy nation like the US.
Source: Telegaon
A CNBC article earlier this year stated that a net worth of $2 million is necessary to retire in Hawaii for 25 years. An investment of $10,000 will turn into 454,545,454 SHIB at its current price. With a portfolio of 454.54 million Shiba Inu tokens, SHIB’s price has to spike to $0.0044 in order to exceed the $2 million retirement criterion.
It should be noted that this will be a 19,900% increase over the current price of $0.000021. Shiba Inu will have a market value of $2.59 trillion at $0.0044. This would be 28.85% more than Bitcoin’s present market value of $2.01 trillion.
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According to data from Telegaon, Shiba Inu might reach this price between the years 2035 and 2040. While the market has to wait a long time, the overall market sentiment could push the asset.
