Carl “The Moon,” a prominent UAE-based crypto investor with 1.4 million followers on X, has recently shared his ambitious outlook for Shiba Inu (SHIB).
In a recent post on X, Carl, Forbes 30 under 30 and also Seen On FOX and CNBC, boldly declared that he would not cash out of his Shiba Inu holdings until the price of SHIB reaches “at least” $0.50. A major factor influencing this outlook is SHIB’s historical performance, particularly in 2021.
Carl is anticipating that Shiba Inu will repeat its past performance. According to him, if the asset gains any upward momentum soon, it could surge toward the $0.50 mark.
Community Reacts
Carl’s post quickly gained traction, with the crypto community debating the implications of such a bold prediction for Shiba Inu.
Some analysts, like Ether NasyonaL, have questioned the feasibility of Shiba Inu reaching $0.50, while others, like Sweep, have expressed strong conviction in Carl’s prediction.
On the other hand, some critics have suggested that waiting for Shiba Inu to hit $0.50 is akin to holding the asset until it reaches zero, implying they see no future for the meme token. Essentially, market reactions to Carl’s $0.50 SHIB price target have been mixed.
What Shiba Inu at $0.50 Means
For context, Shiba Inu is currently trading at $0.00002541, with four leading zeros. Essentially, Carl is projecting a future where Shiba Inu no longer has any leading zeros and is worth half a dollar.
To reach this milestone, SHIB would need to increase in value by nearly 20,000 times, or 1,967,629%.
For instance, an investor who puts $100 into SHIB today could see their portfolio balloon to $1,967,629 in the hypothetical future, where SHIB’s value reaches $0.50.
As a result, current Shiba Inu millionaires could see their status elevated to SHIB billionaires. Moreover, at a $0.50 price point, Shiba Inu would command a staggering market cap of approximately $294.5 trillion. This projection assumes the circulating supply of SHIB remains constant, with no significant burns.
Suppose Shiba Inu alone could achieve a market cap of $294.5 trillion, it raises the question of what the market caps of Bitcoin and other major cryptocurrencies might look like in comparison. Interestingly, despite its ambitious nature, prediction platforms like Telegaon have set a 2050 target for Shiba Inu to reach $0.50 potentially.
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.
