Shiba Inu could smash its all-time high record and set a new one if it matches only 10% of gold’s market capitalization.
Shiba Inu’s Market Cap if it Matches 10% of Gold’s Valuation
Interestingly, the Crypto Basic also joined the frenzy by estimating how much one Shiba Inu token would be worth if Shiba Inu matches at least 10% of gold’s current market cap.
At press time, CompaniesMarketCap estimates gold’s valuation to be around $21.534 trillion, making it the most valuable asset in the world. Therefore, 10% of gold’s market cap translates to about $2.153 trillion. For Shiba Inu to clinch this valuation, its market cap must rally by 24,761% from its current value of $8.66 billion.
It bears mentioning that Shiba Inu has never edged close to this market cap throughout its existence. Despite ranking among the most successful tokens following its remarkable performance in the 2020–2021 cycle, Shiba Inu’s market cap topped at roughly $38 billion when its price peaked at $0.00008845 on October 28, 2021.
How Much SHIB Will Trade If It Captures 10% of Gold’s Market Cap
Matching 10% of gold’s market cap is expected to significantly impact Shiba Inu’s price action, as SHIB could potentially rally to an unprecedented level.
If Shiba Inu’s valuation matches 10% of gold’s market cap and soars to $2.153 trillion, one SHIB token would be worth $0.003653. This estimate assumes that Shiba Inu’s circulating supply continues to remain at the same level of 589.25 trillion tokens.
At the $0.003653 target, a blockchain address containing 500 million SHIB, which is valued at $7,355 today, would be worth $1.82 million.
SHIB to $0.003 Prediction
Meanwhile, some crypto experts have previously forecasted Shiba Inu’s potential rise to the $0.003 mark. Last year, a famous analyst who goes by the pseudonym Wizard Crypto projected that Shiba Inu would achieve the milestone during this bull cycle.
Leading chatbots like Gemini and ChatGPT have also provided insights on when SHIB could clinch the $0.003 target. While Gemini expects this projection to materialize by 2044, ChatGPT forecasts that SHIB will clinch the target sooner, by 2029.
Further, fresh insights from experts affiliated with crypto trading firm Changelly suggest that the $0.003 target could materialize for Shiba Inu by early 2040.
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.
