Prominent investor Jake Gagain stressed that Shiba Inu (SHIB) will hit a $100 billion market cap this cycle, but community members think the outlook is conservative.
A recent post by Gagain, a widely followed content creator on X, has sparked widespread discussion within the crypto community. In the post, Gagain reiterated his ambitious prediction that Shiba Inu would reach a $100 billion market cap this cycle.
In his earlier commentary, he expressed that Shiba Inu will not only reach a $100 billion cap but will attain the threshold before Dogecoin.
$SHIB To 100 Billion This Cycle. @ShibToken
— JAKE (@JakeGagain) July 20, 2024
Currently, market data shows that Shiba Inu boasts a market cap of $10.45 billion at a trading price of $0.00001772. This price reflects a 0.28% decline in the last 24 hours and a 2.57% drop over the past week.
Indeed, a $100 billion market cap for SHIB would significantly influence the asset’s market value. Emphatically, the value of SHIB could surge to approximately $0.00016 in a scenario where it attains a $100 billion cap, particularly when its current circulating supply of over 589 trillion remains unchanged.
This would represent a substantial 802% increase from Shiba Inu’s current valuation, nearly a tenfold rise. Notably, the view that Shiba Inu will attain a $100 billion cap is widely shared among market watchers.
In an earlier conversation, analyst Zach Humphries affirmed SHIB’s potential to hit a $100 billion market cap this cycle. He also projected that Shiba Inu contenders, like PEPE, could achieve a $50 billion market cap by next year.
Shiba Inu Army Thinks $100B Cap Is Too Low
Meanwhile, the bold prediction has triggered a variety of reactions. Seeing the formidable journey to a $100 billion cap with a $0.00016 price, one commenter suggested increasing token burns to boost SHIB’s value.
Interestingly, an ambitious commenter argued that a $100 billion cap is a conservative target for Shiba Inu, considering that meme coins are “hungry for growth” in this cycle. Another commenter voiced this sentiment, stressing SHIB’s potential market cap reaching $300 billion.
Shib to 200-300 billion this cycle
— Saul Albarran (@hayguiseitssau1) July 20, 2024
Meanwhile, skeptic voices expressed disagreement with Shiba Inu’s potential to attain a $100 billion cap due to the influx of new meme coins diverting funds from established ones. Despite the differing views, the crypto market’s unpredictability leaves room for various outcomes.
Shiba Inu Price if it hits 100B Marketcap
Based on the current circulating supply, we predict that if SHIB reaches a market capitalization of $100 billion, the price of Shiba Inu could surge to $0.000169.
Shiba Inu Good to Size Up Portfolio
Last month, a crypto analyst recommended SHIB as an easy-to-hold asset for investors looking to bolster their portfolios. The analyst noted that individuals with smaller portfolios might find ultra-low-cap assets with good reputations safer and potentially more rewarding than mid-cap investments.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
