Shiba Inu investors would need to augment their bags to secure substantial returns should SHIB clinch some of its bullish targets.
Amid the ongoing uncertainty in the broader crypto market, Shiba Inu has witnessed unique battles at important support and resistance levels. The recent market crash pushed SHIB to $0.00001548, marking an eight-day low.
Shiba Inu Accumulation Steadies
Interestingly, Shiba Inu has since recovered with the rest of the market, spiking by a massive 8.15% yesterday and recording an extra 1.55% on Oct. 5. Amid the rebound, investors have continued to retain their holdings. In addition, accumulation from key addresses has been on the high side.
According to data from IntoTheBlock, investors holding at least $100,000 worth of SHIB have increased in number in recent times. Notably, addresses holding between $100,000 and $1 million worth of Shiba Inu have increased to 1,690, representing up to 0.12% of the total SHIB addresses.
For context, these addresses collectively hold 36.67 trillion SHIB tokens worth $638.19 million. This figure is about 3.67% of the total Shiba Inu supply, making this tier address some of the biggest SHIB holders in the market.
Shiba Inu Holdings Distribution | IntoTheBlock
Notably, several market participants currently holding fewer SHIB tokens could also enter this tier of addresses with balances worth $100,000 to $1 million. For instance, an address holding 2.826 billion SHIB has a worth of $50,000 at Shiba Inu’s current price of $0.00001769 if SHIB’s price doubles, this holding will be worth $100,000.
Amid growing investor interest in reaching this cohort of addresses, The Crypto Basic recently assessed how much a market participant must hold to see their tokens grow to $100,000, $500,000, or $1 million if Shiba Inu reaches varying price targets.
SHIB Needed to Make $100K, $500K, and $1M at $0.00008, $0.00014, and $0.001
Last month, market analyst Javon Marks predicted Shiba Inu to hit the $0.00008 price target. If this target materializes, an investor holding 1.25 billion SHIB ($22,112) would be sitting on $100,000, while anyone holding 6.25 billion tokens ($110,562) would see their investment surge to $500,000. Meanwhile, at the $0.00008 price, market participants with 12.5 billion Shiba Inu tokens would witness an increase in their holdings to $1 million. The 12.5 billion tokens are currently worth $221,125 at the prevailing price.
Notably, in June, a Bitcoin analyst argued that the ongoing downtrend was the last chance to procure SHIB at low levels, suggesting an imminent rally to $0.00014. If SHIB reaches this level, an investor looking to hold $100,000 would need to procure 714.2 million SHIB, currently valued at $12,635. However, those seeking to sit on $500,000 at the $0.00014 price per SHIB would need to hold 3.57 billion tokens. These tokens are currently worth $63,178. Further, investors looking to secure $1 million would need to purchase 7.142 billion SHIB, now worth $126,357.
Lastly, market commentator LuckSide asserted in September that Shiba Inu’s signs point to a rally to $0.001. Should Shiba Inu clinch this ambitious target, a market participant would only need to hold 100 million tokens to sit on a $100,000 investment. The 100 million tokens are worth $1,769 today. Meanwhile, investors with an appetite to reach the $500,000 goal could hit this level by procuring 500 million SHIB, currently worth $8,845. Nonetheless, those eyeing larger gains such as $1 million would have to purchase 1 billion tokens, which are currently valued at $17,690.