Benzinga - The Shiba Inu (CRYPTO: SHIB) community remains resolute in their belief that the token will eventually reach 1 cent or $0.01 over the long term.
What Happened: With SHIB currently trading at $0.0000074, the climb required to achieve this milestone is nothing short of extraordinary – a staggering 134,598.28% increase.
Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at the Benzinga’s Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won’t just be a passive spectator. Don’t let this chance slip away – secure early bird discounted tickets now!
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy
Why It Matters: To put this into perspective, for an investor to reap the rewards of $1 million when SHIB reaches $0.01, an investment of $745 in SHIB today would be necessary.
In other news, Shiba Inu whales continue to accumulate SHIB tokens. According to data from IntoTheBlock, the inflow of large participants into the SHIB market has exceeded the outflows, suggesting that whales find the current SHIB price appealing.
The report further revealed that the net flow of tokens held by large holders has surged by an astonishing 275% over the past week. As of our press time, this metric indicated a positive reading of 145.7 billion SHIB tokens, indicating a substantial buying bias in the market.
Read Next: Bitcoin, Ethereum, Dogecoin Spike After Franklin Templeton Files for BTC Spot ETF: Analyst Say If King Crypto Holds This Level, It Could Reach $30K Soon
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.