The market position of Shiba Inu could dramatically change and put smiles on investors’ faces if SHIB explodes by 500% or 1,000% from its current level.
With Shiba Inu stuck around the $0.000013 level, many investors appear frustrated by the lack of momentum in the canine-themed token.
Shiba Inu, which climbed to the 18th position in the global crypto ranking last week, has plunged to the 22nd place as of the time of publication.
Despite rising to a multi-month high of $0.00001596 earlier this month, SHIB has slumped to the $0.000013 territory. Yesterday, it dropped even further to $0.00001245 but quickly rose above $0.000013 amid a relief rally across the broader crypto market.
Currently, Shiba Inu is trading at $0.00001307, with more than 850,000 blockchain addresses experiencing losses on their SHIB investments. However, only 552,010 addresses are currently seeing gains on their investments at the current price.
Price of SHIB If It Soars 500% or 1,000%
Although many investors are disappointed with Shiba Inu’s recent performance, a 500% or 1,000% rally could reverse that sentiment. As a result, we examined how high SHIB’s price could go if it surges by 500% or 1,000% from its current level.
A 500% growth from the current level of $0.00001307 would propel the price of Shiba Inu to $0.00007842, positioning the token closer to its previous all-time high of $0.00008845. Similarly, if Shiba Inu’s price soars by 1,000% from the current level, the asset will surpass its ATH and clinch an ambitious target of $0.00014377.
For context, the estimated $0.00007842 price equates to a market cap of $46.2 billion, while the $0.00014377 projection translates to a valuation of $84.67 billion. This calculation assumes that Shiba Inu’s supply remains the same at 589.24 trillion tokens.
Predictions for SHIB Surge to $0.00007842 or $0.00014377
It is worth noting that the $0.00007 and $0.00014 targets have featured in several Shiba Inu-related predictions. In March, analyst “the Hunters_Company” urged investors to purchase SHIB, noting that the token was gearing up for a rally toward $0.00007380.
The previous month, an analyst suggested that Shiba Inu could attain a target of $0.00007078 if it breaks a major resistance at $0.00001856. Despite estimating that Shiba Inu could hit this target in April, the token has yet to experience any significant rally since then.
Last month, Bitcoin proponent Mag issued a buy signal to Shiba Inu community members, urging them to acquire SHIB in preparation for an upsurge to $0.00014. Earlier this year, Shiba Inu’s head of marketing, Lucie, forecasted that the token would rally 1,000% to $0.00014806 within three days.
Although SHIB rose nearly 10% shortly after Lucie’s bold forecast, the token failed to continue this uptrend toward the $0.00014 mark. In the meantime, Changelly and Telegaon have set fresh timelines for SHIB’s potential surge to the $0.000078 and $0.00014 territories.
While Changelly estimates that the $0.00007842 target will materialize by February 2029, Telegaon sees it playing out by 2028. For the $0.0001437 target, experts at Changelly speculated that SHIB will clinch the milestone by September 2030. However, Telegaon believes SHIB will erase a zero from its price and trade at $0.00014377 by 2031.
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.
