Shiba Inu might remove another zero from its price if SHIB proportionally tracks Bitcoin’s gains to Ark Invest’s target of $2.4 million.
Like most crypto assets, Shiba Inu has closely followed Bitcoin’s price action in recent times. Leading blockchain analytics platform IntoTheBlock puts Shiba Inu’s 30-day correlation with Bitcoin at 82%, indicating that the world’s largest cryptocurrency strongly influences SHIB’s price action.
Based on this strong correlation, many wonder how high SHIB’s price could climb if it grows in tandem with Bitcoin and the premier asset reaches Ark Invest’s $2.4 million target.
Ark Predicts Bitcoin Surge to $2.4M By 2030
Last week, multi-billion-dollar asset manager Ark Invest stunned investors with its updated prediction for Bitcoin. During its latest industry report, the asset manager reviewed its Bitcoin price prediction for 2030.
According to the report, Ark forecasts that by 2030, Bitcoin might reach a bear target of $500,000, a base level of $1.2 million, or a bull target of $2.4 million. These targets represent potential increases of 428%, 1,167%, and 2,434% from the current price of $94,687, respectively.
The top asset manager highlighted factors that could drive Bitcoin’s price to these lofty targets, including increased institutional investment in spot BTC ETFs and its ability to shield investors against inflation and act as a store of value.
Other factors include the nation-state adoption of Bitcoin as a treasury asset and companies integrating it into their treasuries.
Shiba Inu’s Price If Bitcoin Hits $2.4M
With Ark setting a lofty target of up to $2.4 million for Bitcoin by 2030, we estimated the price of Shiba Inu if it grows proportionally.
At press time, Shiba Inu was trading at $0.00001475, representing an increase of 5.78% over the past 24 hours. It had a valuation of $8.69 billion in the hours leading up to press time.
Therefore, if Shiba mirrors Bitcoin’s growth to Ark Invest’s $2.4 million prediction, SHIB’s price would soar by 2,434% from its current value of $0.00001475. This would push the price of 1 SHIB token to $0.0003737. At this price, Shiba Inu’s valuation would stand at $220.2 billion, assuming the circulating supply remains unchanged.
Such a monumental surge would also delight many investors. For instance, someone holding 100 million SHIB tokens, which have a current valuation of $1,475, would see their holdings increase to $37,370 if Shiba Inu clinches the $0.0003737 target.
Timeline for SHIB Surge to $0.00037
Based on Ark’s prediction, Bitcoin would clinch the $2.4 million target under a bullish scenario by 2030. Therefore, should Shiba Inu grow in tandem with Bitcoin, it could also soar to $0.0003737 within the same year.
However, other market analysts have different expectations regarding when SHIB might clinch the $0.00037 target. According to Changelly’s analysis, Shiba Inu would trade at $0.00037 per token by January 2033, three years from Ark Invest’s projected timeline.
Popular prediction platform Telegaon expects SHIB to rise to the $0.00037 mark by 2029, a year before Ark’s timeline. In an earlier analysis, we projected that SHIB would trade around the $0.00037 mark if it mirrors Dogecoin’s performance and the firstborn meme coin soars to $5.
Notably, this hypothetical analysis is just for informational purposes. Hence, investors should not rely on it as investment advice. Nothing is promised in the crypto market, and there is no guarantee that BTC will hit a bull target of $2.4 million by 2030 or that SHIB will rise proportionally.
Nonetheless, Shiba Inu tends to outperform Bitcoin during any major rally. This is reflected in the asset’s 24-hour growth. While Bitcoin is up by 1.89% in the past day, SHIB’s price has soared 5.78% in the same period.
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.
