Here is Shiba Inu price if Bitcoin Reaches $1.3M–$2.97M

As Shiba Inu continues to mirror the performance of Bitcoin, a potential rise of BTC to $1.3 million or $2.97 million could propel SHIB to a new all-time high.

Bitcoin’s influence continues to shape the performance of major cryptocurrencies, including Shiba Inu. The bearish performance of the firstborn cryptocurrency over the past few weeks has also led to a broader market downturn. Shiba Inu was not spared in the massive decline. 

To put things into perspective, Bitcoin’s drop below $110,000 in August had a significant impact on the price of Shiba Inu. The dog-themed token, which previously stood as the 22nd-largest crypto before the shakeout, dropped to the 23rd position. 

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At the time of publication, while Bitcoin boasts an intraday gain of 0.1%, Shiba Inu’s price has also rallied 0.23% in the same timeframe. Given Bitcoin’s strong influence on Shiba Inu’s performance, the two assets are expected to remain correlated as BTC pursues ambitious price targets set by leading market stakeholders. 

Bitwise Projects Bitcoin to Hit $1.3M–$2.9M by 2035

Recently, popular Bitcoin ETF issuer Bitwise set new price targets for Bitcoin by 2035, or over the next 10 years. Under base market conditions, Bitwise expects Bitcoin to deliver an annual growth rate of 28.3% per year over the next decade. This could potentially push Bitcoin’s price to $1,306,740 ($1.3 million) by 2035. 

However, the asset manager projects that Bitcoin could spike beyond this level in a bullish market conditions. Notably, it sees Bitcoin hitting $2.97 million by 2035, representing a 39.4% CAGR. 

According to Bitwise, the key drivers of this bullish outlook include the rising adoption of Bitcoin by institutions, states, and even nations. 

Shiba Inu Price If Bitcoin Reaches $1.3M-$2.9M 

Since Bitcoin often drives the performance of assets like Shiba Inu, a surge to $1.3 million or $2.97 million is likely to trigger a major rally for SHIB as well. For context, Bitcoin is currently trading at $108,451 per coin. 

Reaching the $1.3 million target would demand a 1,098% surge from Bitcoin’s current price, while the $2.97 million projection represents an even steeper climb of 2,638%. 

If Shiba Inu grows in tandem, mirroring Bitcoin’s 1,098% growth to $1.3 million or its 2,638% surge to $2.97 million, the top meme-based token could reach unprecedented levels. Currently, Shiba Inu is trading at $0.00001243, which translates to a market capitalization of approximately $7.32 billion. 

Applying the 1,098% growth to Shiba Inu’s price would drive it to $0.0001489. Also, if SHIB rallies by 2,638%, its price would spike to $0.0003403. Therefore, if Bitcoin clinches Bitwise’s 2035 target of $1.3 million or $2.97 million, Shiba Inu might also rally to $0.0001489 or $0.0003403, respectively. 

Shiba Inu has not reached any of the estimated targets in its lifetime. Its highest peak price of $0.00008845 is 68.34% lower than the $0.0001489 target and 284% lower than the $0.0003403 price. 

The $0.00014 and $0.00034 Price Forecasts 

Meanwhile, the $0.00014 and $0.00034 forecasts have appeared in various predictions from market commentators. Last year, Pseudonymous analyst Mags predicted that Shiba Inu would attain the $0.00014 price target in September 2024. 

Shiba Inu’s marketing lead, Lucie, also teased that SHIB was poised to rally 1,000% and reach the $0.00014 target in May 2025. However, SHIB has since missed both timelines for reaching the $0.00014 price milestone. 

For the $0.00034 prediction, ChatGPT suggested that Shiba Inu might reach the ambitious target before 2035. According to the chatbot, SHIB is expected to reach the $0.00034 price milestone by 2027. 

Nonetheless, this analysis aims to enlighten investors about how much SHIB could trade if it mirrors Bitcoin’s performance and the leading cryptocurrency reaches ambitious targets of $1.3 million or $2.97 million. Although Shiba Inu often outperforms Bitcoin during a rally, it is not certain that the trend will repeat itself.