Shiba Inu will crack unprecedented floor prices should it mirror the trajectory of Bitcoin towards the projected $250K and $777K thresholds.
The crypto market witnessed a brief struggle with bearish forces as Bitcoin re-entered the $70K range this week. In the last two days, Bitcoin experienced a 7.76% dip, retesting the $66K price level. In comparison, Shiba Inu saw a more significant drop, collapsing by 12%.
Meanwhile, Bitcoin has resumed the uptrend, reclaiming a high of $69,220 in the last 24 hours. Altcoins like Shiba Inu have followed suit, with SHIB rallying 6.25% from its earlier low of $0.00002352 to trade at $0.00002499.
As the second phase of the bullish race gradually builds momentum, anticipations continue to run high about Shiba Inu’s potential price point in a scenario where the primary market mover, Bitcoin, establishes all-time highs at ambitious price levels such as $250,000 or even $777,000.
Shiba Inu Price when Bitcoin Hits $250,000
At last check, Bitcoin trades for $68,678. The premier crypto must advance by 264% to potentially hit the $250,000 target. This price level will elevate Bitcoin’s market cap to approximately $5 trillion, exceeding the combined valuation of Apple and Amazon.
Prominent industry figures with the $250K target for Bitcoin include billionaire Tim Draper and Real Vision founder Raoul Pal.
Meanwhile, analyst Jason Williams, who recently argued for Bitcoin’s $250K outlook, suggested Shiba Inu’s price alongside it. Specifically, Williams proposed $0.05 for SHIB in a scenario where Bitcoin trades at a quarter of a million dollars.
My targets for this cycle:$BTC 250,000 $ETH $10,000 $SOL $6,200 $DOGE $40 $XRP $0.50$ADA $0.50$SHIB $0.05$AVAX $1,000$LINK $480$LTC $800$PEPE $0.10$HBAR $0.10$ICP $3$WIF $3
— Jason A. Williams (@GoingParabolic) May 15, 2024
Ordinarily, factoring Bitcoin’s 264% surge to $250K only puts Shiba Inu’s value at $0.00008947, although this represents a new ATH for SHIB. Williams’ suggestion of $0.05 for Shiba Inu reflects the historical outperformance of altcoins over Bitcoin, particularly meme coins like Shiba Inu.
For instance, after the 2020 halving, Bitcoin’s cumulative uptrend amounted to a 721% gain. At the same time, Shiba Inu soared by 884,400%, eliminating three zeros within a year.
Shiba Inu Price when Bitcoin Hits $777,000
Notably, the Bitcoin target of $777,000 this season came from widely followed on-chain analyst Yazan. The suggestion anticipates a 10X gain or 1,031% surge for BTC by 2025. A similar percentage growth would push Shiba Inu to a new all-time high at $0.0002780.
Meanwhile, Yazan proposed a $0.05 price level for Shiba Inu should Bitcoin rally by 1,031% this cycle.
My targets for this cycle:$BTC $777,000 $ETH $85,000 $SOL $6,200 $DOGE $40 $XRP $0.50$ADA $0.50$SHIB $0.05$AVAX $1,000$LINK $480$LTC $800$PEPE $0.10$HBAR $0.10$ICP $3$WIF $3
— Yazan (@YazanXBT) May 15, 2024
What SHIB at $0.05 Means
With SHIB trading at $0.00002458 at press time, the projected $0.05 target implies Shiba Inu must have rallied 203,317% by next year.
Notably, a $777K price per BTC would give Bitcoin a market cap of over $15.31 trillion. In contrast, a $0.05 price per Shiba Inu would result in a market cap exceeding $29.46 trillion, nearly double that of Bitcoin.
Essentially, Williams and Yazan have inadvertently suggested a scenario in which Shiba Inu will replace Bitcoin as the number one crypto by 2025, a view dismissed as wishful thinking by many prominent experts.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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