Here’s Shiba Inu Price if Ethereum Reaches $22,000 As Predicted by VanEck

Shiba Inu could breach the $0.00014 price level if it trails Ethereum price in the event that ETH clinches the $22,000 target predicted by VanEck.

VanEck Sees Ethereum at $22,000 by 2030

For context, leading asset manager VanEck recently adjusted its outlook for Ethereum, proposing a possible six times increase in price per unit and a $66 billion cash flow. As reported by The Crypto Basic, VanEck’s latest projection was fueled by the recent approval of spot Ethereum ETFs by the U.S. SEC.

With these investment products poised to introduce greater capital to the Ethereum market, industry experts believe this development could bolster Ethereum’s price, triggering a spike to greater heights. This phenomenon was recently observed with the recently-introduced spot Bitcoin ETFs, which have seen a cumulative net inflow of $15.69 billion since January.

The inflows to these instruments contributed to Bitcoin’s spike to a new all-time high above $73,000 three months back. Considering these events, analysts at VanEck believe Ethereum could record similar gains. As a result, they project a $22,000 price target by 2030, the next six years.

Shiba Inu Price if It Trails ETH Surge

Meanwhile, we recently assessed how much Shiba Inu could rise if it trails Ethereum on the back of this price surge. Notably, data from IntoTheBlock indicates that SHIB boasts some level of price correlation with Ethereum, with a 30-day correlation of 69%, as reported by The Crypto Basic earlier this week.

This suggests that Shiba Inu could follow Ethereum’s price movements to an extent as ETH journeys to the $22,000 price goal. Remarkably, for Ethereum to reach this $22,000 value, it would have to spike by 494% from its current price of $3,700. Also, this $22,000 price would lead to an ETH market cap of $2.64 trillion.

If Shiba Inu records similar gains, its price could rally to unprecedented highs. SHIB currently changes hands at $0.00002394, having slumped by 5% over the last 24 hours to break below the $0.000025 support. A similar 494% increase from this point would take Shiba Inu to $0.0001423, leading to a new all-time high for the token.

Interestingly, market analyst Rafaela Rigo already predicted a Shiba Inu rally to this price territory. Last month, Rafaela called attention to a possible repetition of the 2021 pattern, suggesting that SHIB has the potential to reach $0.0001406. At a $0.000014 price, Shiba Inu’s market cap would sit at $83.5 billion, a feasible target.