Shiba Inu would cancel two more zeroes and rally a staggering 11,169% if it captures 25% of the current global cryptocurrency market cap.
Shiba Inu, like most altcoins, has failed to mirror Bitcoin’s impressive price action in recent times. While Bitcoin is up 4.77% and 15.33% in the past 30 days and year-to-date (YTD), respectively, SHIB is down 16.62% and 39.50% in the same timeframes.
Analysis Suggests Shiba Inu Could Turn Things Around
The second-largest meme coin by market cap joined a broader market trend yesterday, as the sector corrected after a wave of bullish momentum. Shiba Inu is down 4% in the past 24 hours, extending its losses further.
Nonetheless, bullish sentiments continue to resonate within the Shiba Inu ecosystem, particularly due to the anticipation that advanced technology and the creation of real-world utility will drive institutional traction and, consequently, prices. Market expert Luis Delgado shared this sentiment in a recent analysis, suggesting that Shiba Inu’s visionary lead, Shytoshi Kusama, has the foresight for innovation that will drive SHIB to $0.01.
The Shiba Inu ecosystem team has also encouraged enthusiasts to look past current bearish trends, endorsing predictions that the meme coin could rally to $0.01 in the future.
Shiba Inu’s Price If It Captures 25% of the Total Crypto Market Cap
At the current price of $0.0000127 and a market capitalization of $7.52 billion, Shiba Inu accounts for just 0.22% of the global crypto market cap. For context, the total market cap stands at $3.39 trillion, largely dominated by Bitcoin’s $2.14 trillion and Ethereum’s $333 billion.
Remarkably, if Shiba Inu were to add 24.78% to its current dominance and capture 25% of the total market cap, its valuation would skyrocket to $847.5 billion. From its current valuation of $7.52 billion, this will mark an 11,169% uptick.
Notably, Shiba Inu has a circulating supply of 589.55 trillion. At the hypothetically new market cap of $847.5 billion, the asset’s price would soar to approximately $0.00144. Interestingly, this chalks off two zeroes from Shiba Inu’s current price and marks a new all-time high.
Shiba Inu to $0.001+ Predictions
Meanwhile, past projection supports the possibility of a Shiba Inu rally to $0.001 and above. Angel investor Armando Pantoja predicted that Shiba Inu would rally to $0.001, stating that fear of missing out (FOMO) on the asset would drive this rally.
Further, a previous analysis from The Crypto Basic projected that Shiba Inu will reach $0.001 by late 2031 if its price grows 100% yearly. However, Changelly’s prediction suggests we will not see the price until January 2041.
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.
