Can Shiba Inu Tokens Be the Key to Reaching Millionaire Status?

Can Shiba Inu Tokens Be the Key to Reaching Millionaire Status?

Investors have primarily shown interest in Shiba Inu (SHIB) within the Shiba Inu ecosystem, which also includes Bone ShibaSwap (BONE) and Doge Killer (LEASH). However, as BONE and LEASH gain more recognition, traders are wondering if these tokens have the potential to attract million-dollar investments.

Bone ShibaSwap (BONE)

BONE serves as the governance token for ShibaSwap, a decentralized exchange within the Shiba Inu community. BONE was introduced in July 2021, coinciding with the launch of ShibaSwap. There are conflicting reports regarding the token’s all-time high price. 

According to CoinMarketCap, BONE reached $41.67, but there is limited evidence to support this claim. CoinGecko, on the other hand, states that BONE’s all-time high was $15.50, shortly after its launch in July 2021.

Currently trading at $1.63, BONE has experienced a significant decline of 96.95% from its peak. Despite this drop, investors remain hopeful for a potential rally to its previous high. However, for BONE to reclaim its all-time high price, it would need to surge by 1,160%.

The key question is, if BONE were to reach its previous price point, how much would an investor need to invest in order to make $1 million? To achieve this, an investor would need to acquire 64,516 BONE tokens, which would require an investment of $79,354 at the current price of $1.23.

If BONE manages to reclaim its all-time high of $15.50, the aforementioned 64,516 BONE tokens would be valued at $1 million. This implies that an investment of $79,354 would be necessary to generate a $1 million return if BONE reaches its previous peak price.

As BONE gains more recognition, it has been listed on several exchanges, indicating its increasing prominence. Additionally, there are expectations that BONE will serve as the gas token for the upcoming Shibarium. These developments have sparked optimistic speculations about the token’s future.

However, it is important to note that there is no guarantee that BONE will be able to reclaim its previous price of $15.50.

Related article: Shiba Inu: Discussing the Possibility of Shibarium Launching in August

Doge Killer (LEASH)

LEASH, which was introduced in April 2021 with a limited supply of 107,566 tokens, aimed to position itself as the Doge Killer. The token’s intentionally low circulating supply made it appealing to investors, as it held the potential for significant price surges.

Shortly after its launch, LEASH experienced a remarkable rally of 812%, reaching an all-time high of $8,983. However, due to insufficient adoption, this upward momentum was not sustained. The subsequent bear market had a significant negative impact on LEASH’s price. Currently priced at $416, LEASH has dropped by 95.35% from its peak.

With the upcoming launch of Shibarium, industry leaders anticipate its impact to reverberate throughout the Shiba Inu ecosystem, potentially leading to a positive reaction in LEASH’s price. The extent of this reaction, however, remains uncertain and will only become apparent in due course.

In contrast, for BONE to recover its all-time high, it would need to rally by 2,059%. If such a scenario were to materialize, investors would need an initial investment of $46,176 at the current prices in order to achieve a return on investment of $1 million.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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