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Expert Identifies Key Bitcoin Level with Potential Dip to $57,420 or Surge to $63,300

Albert Brown
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Expert Identifies Key Bitcoin Level with Potential Dip to $57,420 or Surge to $63,300

Despite bullish sentiments around October, Bitcoin has dipped to its lowest point in three weeks, leading to speculation of further decline or a possible reversal.

After starting the week strong, Bitcoin saw its value decline significantly. On Monday, the price dropped to $63,000, followed by a brief recovery to $64,000. However, this uptrend was short-lived, as Tuesday saw Bitcoin fall further to $62,000.

The downturn continued through Wednesday and Thursday, with Bitcoin dropping below the $60,000 mark multiple times. This sequence of events has left the premier crypto asset at a critical juncture, as experts assess the potential for further movements.

For instance, Ali Martinez recently discussed a key support level that could determine Bitcoin’s next direction. Martinez highlighted $60,365 as a critical threshold. Should Bitcoin break below this level, a dip to $57,420 is possible. However, if Bitcoin maintains this support, a rebound to $63,300 is within reach. 

Levels Based on UTXO Distribution

Martinez’s projection relies on Bitcoin’s URPD (UTXO Realized Price Distribution), which helps identify price levels where Bitcoin holders have acquired their coins, thus indicating possible support and resistance zones. According to data shared by Martinez, several key price levels indicate significant buying and selling activity, which could impact future movements. 

At $63,309, 429,167 UTXOs (2.17% of the total) were realized, making it an important resistance level where substantial buying occurred. This suggests that Bitcoin holders who acquired the asset at this price may sell at breakeven at this level, potentially driving resistance against further upward movement.

On the downside, $57,420 serves as a major support level, with 271,557 UTXOs (1.37%) realized at this price. This indicates strong buying interest, which could prevent the asset from falling further if the price approaches this level. Additionally, $54,475 reflects a moderate support level, with 167,809 UTXOs (0.85%) realized, suggesting a potential point where buyers could intervene should the decline continue.

MVRV Ratio Signals Room for Growth

Adding to the speculation, the Market Value to Realized Value (MVRV) ratio indicates the potential for future growth. By October 3, Bitcoin’s MVRV ratio stood at 2.64, which is relatively low compared to past bull markets.

Previous cycles saw MVRV ratios as high as 4.35 in 2017 and 3.7 in 2021. The current level suggests that Bitcoin still has room to grow before reaching a market cycle peak similar to previous ones.

Here’s the Deadline for Ripple to File a Counter Appeal as SEC Yet to File Form C Detailing Appeal

Elendu Benedict
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Here’s the Deadline for Ripple to File a Counter Appeal as SEC Yet to File Form C Detailing Appeal

Ripple has 14 days from October 3 to file a counter-appeal following the US Securities and Exchange Commission’s (SEC) decision to appeal the case.

For context, the US SEC filed a notice of appeal on Wednesday, declaring its intentions to contest US District Judge Analisa Torres’s August 7 ruling. Notably, the filing didn’t specify exactly what the US top regulator was appealing from the judgment.

The SEC Yet to Fill Form C With Appeal Court

According to FOX Business journalist Eleanor Terrett, the aspect of the ruling that the SEC is appealing is not yet defined because it has not filed the Form C form with the US Court of Appeals for the Second Circuit.

Form C is a legal document in which an appellant provides the full details of the appeal case brought forward. The form requires the plaintiff to fill out details like who the defendant is, the jurisdiction of the appeal, and the nature of the suit.

Form C Sample
Form C Sample

Moreover, Terrett noted that the SEC is required to fill out Form C so Ripple can decide its next course of action. It bears mentioning that the legal representatives of Ripple are considering filing a counter-appeal.

However, they are looking to grasp which aspect of the judgment the SEC was appealing. Notably, Judge Torres ruled on several arguments in the years-long case, including the programmatic sales of XRP, sales of XRP to primary and secondary investors, and the status of the XRP token. The judge also reduced the penalty imposed on Ripple for violating securities laws.

Ripple Has Until October 17 to Counter-Appeal

While Ripple waits for the SEC to fill out Form C, Terrett confirmed that the firm has until October 17 to counter-appeal the case. 

Meanwhile, Pro-XRP lawyer Fred Rispoli has given a possible timeline for the conclusion of the appeals saga. According to him, the Second Circuit will probably rule on the SEC’s appeal by late 2025 or early 2026.

However, the appeal decision has had a short-term implication on XRP as the asset has corrected by over 10% since the filing. Nevertheless, analysts remain bullish on the XRPL native token, tipping the coin to replicate the feat seen in 2020, when the SEC filed a lawsuit against Ripple.

Bitcoin and Ethereum ETFs Dominate 525 New Launches This Year, Claiming 13 of the Top 25 Spots

Albert Brown
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Demand for crypto-related ETFs is proving stronger than expected, according to recent data. 

Nate Geraci, President of The ETF Store, Inc., recently criticized claims of limited demand for crypto-related ETF products, presenting evidence that highlights a significant trend. As Geraci pointed out, several of the top-performing ETFs launched in 2024 are tied to crypto assets, signaling a robust market appetite for digital asset exposure.

According to Geraci, out of the 525 exchange-traded funds (ETFs) launched in 2024, 13 of the top 25 are directly related to either Bitcoin or Ethereum. This figure increases to 14 when considering MicroStrategy’s MSTR Option Strategy ETF, which also has exposure to digital assets.

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2024 ETF Launch Performance

Bitcoin ETFs Dominate 2024

The top four ETFs for 2024 are all related to Bitcoin, while five of the top seven ETFs are tied to other prominent crypto assets. Leading the charge is the iShares Bitcoin Trust ETF (IBIT), which recorded the highest inflows, with $21.5 billion year-to-date (YTD). 

Fidelity’s Wise Origin Bitcoin Fund (FBTC) secured the second spot, with an inflow of $9.84 billion. The ARK 21Shares Bitcoin ETF (ARKB) followed, amassing $2.63 billion in YTD inflow. Bitwise Bitcoin ETF Trust (BITB) rounded out the top four, garnering $2.1 billion. 

Ethereum-Related ETFs Gain Traction

While Bitcoin ETFs lead in overall inflows, Ethereum-focused ETFs are also gaining traction. The iShares Ethereum Trust ETF (ETHA) is the top-performing Ethereum-related ETF, with a notable YTD inflow of $1.15 billion. 

Fidelity’s Ethereum Fund ETF (FETH) follows with inflows totaling $453.66 million. This growth highlights an emerging interest in Ethereum-related products, even though they trail behind Bitcoin in overall performance.

Franklin Templeton Files for Crypto Index ETF

In a related development, Franklin Templeton, a major player in asset management, has applied to the U.S. Securities and Exchange Commission (SEC) for approval to launch an ETF that targets both Bitcoin and Ethereum. If given the green light, the Franklin Templeton Bitcoin and Ethereum Index ETF will provide investors with the opportunity to gain exposure to the top two crypto by market value.

This ETF is designed to track the performance of an index that reflects the price movements of Bitcoin and Ethereum. Investors would be able to benefit from the fluctuations of these assets indirectly, as the fund does not involve directly holding the crypto themselves.

Shiba Inu Army Reacts as Mark Cuban Says Every Single Meme Coin is a Rug Pull in the Works

Abdulkarim Abdulwahab
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Shiba Inu Army Reacts as Mark Cuban Says Every Single Meme Coin is a Rug Pull in the Works

Billionaire crypto investor Mark Cuban has stirred the meme coin community with his recent remarks, describing all meme coins as potential scams.

In a recent interview on RugRadio, Cuban boldly stated that every single meme coin is a rug pull in the works, specifically mentioning Dogecoin.

During the conversation, host Farokh asked Cuban for his thoughts on cryptocurrency as a whole. Cuban explained that crypto means different things to different people. For some, it represents Bitcoin as a store of value and a hedge against fiat currency. In contrast, others see the potential of various blockchains, particularly with Ethereum and its smart contracts.

Cuban acknowledged Dogecoin’s role as a fun, community-driven project and asserted his support for all these facets of crypto. However, he emphasized his preference for projects with utility. He noted that he supports initiatives to make crypto accessible to the masses, which he views as crucial for the industry’s future.

Farokh pointed out that meme coins play a significant role in attracting people to the crypto ecosystem, highlighting their unique appeal. He also referenced Dogecoin, the reigning meme coin with a market cap exceeding $15.79 billion. Dogecoin has gained fame since its meteoric rise in 2021, buoyed by Elon Musk’s endorsement.

Dogecoin Still a Ruf Pool —Cuban 

However, Cuban countered that while the excitement around Dogecoin is entertaining, it ultimately remains a rug pull. In this context, he emphasized: 

“Every single meme coin is a rug pull in the works because there’s no real reason for it to stick around other than the fun.”

He highlighted that investors are primarily interested in the token’s price increase as more people enter the market. Cuban likened this to a game of musical chairs, where participants rush in without a solid foundation.

The host agreed, noting that many investments can feel like musical chairs, with some getting in before others. Cuban acknowledged this but pointed out that the situation is much worse in the crypto space, as some coins promote the next big thing even when there’s no substantial reason behind the hype.

Community Reacts

Expectedly, Cuban’s assertion that all meme coins are potential rug pulls has sparked mixed reactions among market participants. While some agree that investing in meme coins carries significant risks, others challenge Cuban’s broad characterization.

Abraham Naidoo, a proponent of Shiba Inu, argued that SHIB doesn’t fit into this category. He pointed to ongoing developments like Shibarium, the ecosystem’s layer-two blockchain, and ShibaHUB, emphasizing that these initiatives make Shiba Inu more than just a meme—it’s a utility project.

Meanwhile, it’s worth noting that the global crypto market is currently valued at over $45 billion, with a daily trading volume exceeding $5 billion.

Cardano Founder Jabs Bitcoin Maxis, Says They Worship a Guy Who Borrows to Buy BTC

Albert Brown
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Cardano Founder Jabs Bitcoin Maxis, Says They Worship a Guy Who Borrows to Buy BTC

Charles Hoskinson, the Cardano founder, responded to criticism from a Bitcoin advocate, challenging claims about integrity and questioning Michael Saylor’s BTC purchase practise.

Charles Hoskinson, CEO of IOG, has again found himself at the center of a heated discussion in the crypto community. This time, the debate surrounds a statement made by Chetan Kaul, a Bitcoin advocate. Kaul’s remarks, posted on X, contrasted the leadership of Bitcoin with other cryptocurrencies, leading to an exchange between him and Hoskinson.

Criticism and Community Response

For context, the conversation began when Kaul shared a post comparing Bitcoin’s ambassadors with those of other crypto projects, which he dubbed shitcoins. He stated that Bitcoin, as “high integrity money,” attracted high integrity ambassadors like Michael Saylor, while “low integrity shitcoins” attracted figures like Charles Hoskinson. 

This comment ignited responses, including from Hoskinson himself, who questioned the definition of integrity used in Kaul’s argument. Hoskinson pointed out that Bitcoin advocates often fail to explain what constitutes low or high integrity. He further criticized Saylor’s financial strategy of borrowing money to buy Bitcoin.

MicroStrategy BTC Purchase Behavior

MicroStrategy, under the leadership of Michael Saylor, has consistently positioned itself as one of the largest institutional investors in Bitcoin. The firm currently holds a total of 252,220 bitcoins as of September 20, 2024.

According to the latest data, the company made two significant purchases recently, acquiring 18,300 bitcoins for $1.11 billion on September 13, followed by 7,420 bitcoins for $458.2 million on September 20. These acquisitions bring their total expenditure to approximately $9.91 billion at an average purchase price of $39,292.18 per bitcoin.

Community Joins Conversation

In addition to Hoskinson, other community members joined the debate, defending his contributions to the Cardano blockchain. One notable comment highlighted Cardano’s decentralization and security, emphasizing the contrast between Cardano’s technological advancements and Saylor’s use of tradfi systems to purchase Bitcoin.

Kaul’s retort to these defenses remained focused on his disdain for what he called “shitcoins,” doubling down on his stance that Bitcoin remains superior.

Meanwhile, Hoskinson has always argued Cardano’s superiority. In a previous interview with Altcoin Daily, he discussed Cardano’s potential to surpass Bitcoin. He argued that Cardano’s community-driven approach and its ability to adapt rapidly could position it as a leader in the cryptocurrency space. 

Cardano Founder’s Recognition at ETH10X

This recent exchange comes shortly after Hoskinson received recognition at the ETH10X event in Switzerland. The event, which celebrated the 10th anniversary of Ethereum’s founding, acknowledged Hoskinson’s role in developing Crypto Valley. 

Alongside seven other Ethereum co-founders, Hoskinson was honored for his contributions to blockchain innovation. The ETH10X event highlighted the impact Ethereum has had on the global blockchain industry, particularly in establishing Zug as a central hub for the sector.

Input Output Global, the blockchain engineering firm Hoskinson co-founded, released a statement underscoring the importance of the event and Hoskinson’s involvement. During the ceremony, Hoskinson expressed his appreciation for the recognition and acknowledged the significance of Crypto Valley’s growth over the past decade.

Ripple CTO Warns of Scammers In New Scam Alert

Lele Jima
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Ripple CTO Warns of Scammers In New Scam Alert

Ripple CTO David Schwartz exposes an elaborate phishing scam attempt by individuals posing as representatives from San Francisco-based crypto exchange Coinbase. 

The Ripple CTO took to X to share a malicious phishing message he received from malefactors posing as Coinbase. 

Coinbase scam
Coinbase scam

Scam Details 

These bad actors claim to be representatives from the asset shielding department of the exchange, informing recipients that they are investigating a case. 

Apparently, the scammers first call potential victims to inform them that an investigation is being conducted on their accounts. Afterward, they send users a follow-up email or text to verify the authenticity of the call they received. 

The scammers include the contact number, case ID, and representative name in the message to trick users into believing they were on a call with a Coinbase customer representative. 

Although the message looks legitimate and could be mistaken for an official message from Coinbase, a closer look at the text reveals its fraudulent nature. Notably, the message was sent from an unofficial email domain, an uncommon move for an organization like Coinbase.   

This type of scam is a common practice involving individuals posing as representatives of trusted companies to obtain sensitive information from people. They first establish trust with potential victims before asking them to provide sensitive information that could lead to huge losses. 

In cases like this, investors should immediately cut off all means of communication with the individuals by blocking them on any platform they have leveraged. In addition, it is important to not click on any links from the emails, even for curiosity’s sake.

Ripple CTO Warns 

Notably, Schwartz, who received the malicious email yesterday, warned his more than 511,000 followers not to fall prey to the scam. He suggested that the scammers attempted to defraud him using the tactic. 

Consequently, he exposed the phishing attempt to protect unsuspecting investors from being defrauded. Despite serving as the CTO of a top payments company like Ripple, Schwartz has always been active in exposing scam attempts. 

Earlier this year, the Ripple exec warned users about an email from scammers claiming to be representatives from the popular NFT marketplace OpenSea. These bad actors messaged potential victims about listing a non-fungible token on the platform. The email includes a malicious link redirecting users to a fake OpenSea page. 

Last year, Schwartz also debunked multiple fake XRP airdrops from scammers posing as Ripple. The scammers promoted most of these fraudulent airdrops shortly after Ripple secured a partial victory against the SEC in July 2023. 

$20,000 in XRP as Top Exchange Unveils Exciting New Opportunity

Abdulkarim Abdulwahab
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$20,000 in XRP as Top Exchange Unveils Exciting New Opportunity

U.S.-based exchange Uphold has launched a campaign that allows XRP enthusiasts to win up to $20,000 in XRP tokens.

Uphold announced this latest XRP promotion on Thursday via its official account on X. The campaign is called the “XRP Sweepstakes.” It promises a grand prize of $20,000 in XRP to one lucky participant, with an additional $5,000 to be shared among five runners-up.

How to Participate in Uphold’s XRP Sweepstakes

Notably, this campaign is designed to reward users for their activities on the exchange over a specified period. The XRP Sweepstakes opened for participation on October 3 and will end on October 31.

During this time, Uphold users can accumulate “entries” for each eligible transactional activity conducted on the platform. Importantly, users do not need to make specific purchases or payments to take part in the Sweepstakes.

The primary requirement for interested individuals is to register their interest in the campaign by clicking on the “opt-in” banner on the Uphold app. This will be visible to eligible users. Upon opting in, a participant will receive one free entry.

From that point on, all eligible trades conducted on the Uphold exchange during the campaign period will earn the user additional entry tickets. These entry tickets will be used for the draw at the end of the campaign to select the winner. In other words, participants who accumulate more entries through more transactions will have a greater chance of winning.

All eligible transactions are counted as tickets, regardless of the transaction value. This means that larger trades do not necessarily increase one’s chances of winning; rather, the quantity of trades does. Moreover, there is no limit to the number of entries a participant can accumulate.

It is important to note that Uphold considers “eligible” trades to be all transactions, excluding withdrawals of crypto assets or fiat and deposit transactions.

Who Can participate 

The ongoing XRP Sweepstakes is open to all registered users on Uphold who have completed KYC, except for New York and Florida residents. Additionally, participants must be at least 18 years old.

Selecting the Winners

At the conclusion of the Sweepstakes period, six winners will be chosen at random from all eligible entries. Winners will receive an email notifying them of their success. Their prize will be credited to their Uphold account within 30 days.

Winners must confirm receipt and acceptance of the Terms and Conditions within ten days. Otherwise, they risk losing the prize, which will be transferred to the next qualified participant. The exchange has noted that it may request proof of age and residency to verify eligibility before awarding prizes.

Shiba Inu Officially Posts About SHIB Hitting New All-Time High

Lele Jima
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Shiba Inu Officially Posts About SHIB Hitting New All-Time High

The Shiba Inu ecosystem team publishes a new X post relating to SHIB hitting a new all-time high (ATH).

October has not met investors’ expectations of massive rallies across various crypto assets like Shiba Inu (SHIB). This is due to several factors plaguing the financial market over the past few days, with the crypto sector taking up some of the heat. 

In particular, factors such as growing long liquidations and rising geopolitical tension in the Middle East have dampened investors’ “Uptober” hopes. 

Shiba Inu’s Performance in October 

Like the rest of the crypto market, Shiba Inu has witnessed massive downturns since the beginning of this month. The top dog-themed token, which surged to a three-month high of $0.00002156 on September 27, has slumped 23.56% to $0.00001648 ever since. 

Moreover, Shiba Inu is down 11.1% since the beginning of this month and 13.3% in the weekly charts. Nonetheless, several Shiba Inu community members remain confident in SHIB amid the downtrend, with belief that the asset can still register a new all-time high in the 2024/2025 market cycle. 

Shiba Inu Tweets About New ATH 

As this speculation gains momentum, Shiba Inu’s ecosystem team posted an open-minded message on X, asking proponents to reveal what they intend to do when SHIB hits a new ATH. 

“When SHIB hits a new high, I’m going to _______,” Shiba Inu tweeted. 

The message plays on the community’s expectations of SHIB reaching a new price peak, encouraging members to fill in the blanks on how they plan to react. According to the comment section, users’ reactions range from vacaying, retiring, increasing their investment in SHIB, and buying a Lamborghini.  

Community figures like JD, the founder of PawZone, promise to remind everyone that they predicted SHIB’s new all-time high and also welcome new members into the community. 

For context, Shiba Inu registered its previous ATH on October 28, 2021, almost three years ago. At the time, Shiba Inu hit a peak price of $0.00008616 per token, according to CoinGecko data. However, the token’s price has dipped 80.7% from this peak value. 

Experts See Shiba Inu Hitting New ATH in 2024/2025 Bull Market 

Notably, several experts believe that Shiba Inu will hit a new ATH in the ongoing bull market, with many projecting that SHIB will eliminate leading zero and potentially hit a minimum price of $0.0001. 

Their confidence emanates from the positive developments happening within the Shiba Inu ecosystem, ranging from a surge in Shibarium’s TVL to enhanced burns, as observed last month. These developments could boost investors’ appetite for SHIB, potentially driving the price to a new ATH.  

In August, top market observer Alan Santana set a new ATH target of $0.00023179 for Shiba Inu in the upcoming bull run. The analyst specified that Shiba Inu could hit the target by 2025. Reaching this level requires a surge of 1,306% from the current price of $0.00001648.

Meanwhile, last month, prominent analyst Oscar Ramos speculated that Shiba Inu could set a new ATH of $0.00017 by next year. This represents a surge of 931.55% from the current price. 

Furthermore, top trader Dexter projected that Shiba Inu would hit a new all-time high in September, stating that SHIB could trade between $0.000089 and $0.00015 in the coming months. 

However, whether Shiba Inu will register a new all-time high before the end of the 2024/2025 market cycle remains to be seen. 

Expert Compares XRP to Nvidia, Says Do Not Be Early Sellers

Sam Wisdom Raphael
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Expert Compares XRP to Nvidia, Says Do Not Be Early Sellers

XRP community figure and market expert EGRAG compares XRP to Nvidia stock, charging investors not to sell too early.

He presented this commentary at a time when XRP is suffering one of the biggest declines in a generally unfavorable market. For the uninitiated, the U.S. SEC recently filed a notice of appeal in the Ripple case, potentially dragging the lawsuit for another two years.

Reports of the appeal triggered a steeper decline for XRP amid an already bearish market. As a result, XRP tumbled 9.77% on Oct. 2, and by another 3.15% yesterday, now trading at a 1-month low of $0.5256. At the current price, XRP has slumped 19.18% since Sept. 30.

Ark Invest’s Nvidia Blunder

However, EGRAG remains confident in the altcoin’s potential, with this optimism demonstrated in his latest commentary. The market analyst advised market participants not to follow the footsteps of Cathie Wood, American investor and founder of investment firm Ark Invest.

EGRAG’s charge was in respect to Wood’s investment decision regarding Ark Invest’s holdings of the Nvidia stock, one of the best performing assets in recent years. For context, market data suggests Ark Invest missed out on $1.3 billion gains by periodically selling off its Nvidia holdings too early.

Notably, over the past two years, Ark Invest has sold more than 1.3 million Nvidia (NVDA) shares. Interestingly, most of this sale, amounting to 859K shares, occurred in Q4 2022, when NVDA traded at around $14.5 ($145 before the 10-for-1 stock split). At press time, Nvidia currently changes hands at $122.85, a 747% increase since Q4 2022.

The investment firm sold off most of its NVDA holdings before the advent of ChatGPT, which triggered a surge in the performance of AI-focused assets. Particularly, the 2022 sales alone carried out by Ark Invest resulted in missed profits of over $854 million.

A Comparison Between NVDA and XRP

EGRAG compared Nvidia’s performance to XRP, suggesting that the XRPL native token could record a similar price surge. It bears mentioning that before its impressive run, NVDA also underperformed between Q4 2007 and Q3 2015, a period of eight years.

Similarly, XRP has been performing below expectations since it collapsed from the January 2018 peak of $3.31. At its current price, XRP is down more than 84% from the $3.31 high. The altcoin has failed to even reclaim the $1 mark since it dropped below it in December 2021.

Despite the gloomy performance, EGRAG and other market analysts believe XRP could witness a major breakout. Market veteran and XRP critic Peter Brandt also identified this potential in a recent analysis.

Notably, most of the XRP analyses from other market commentators have produced varying price targets for XRP, each of whom would skyrocket modest investments to unimaginable heights.

For instance, just last month, EGRAG leveraged the Elliott Wave theory to argue that XRP could rally to a price between $27 and $33. Moreover, in August, another market analyst, Mickle, predicted a possible XRP rally to $44, a more ambitious target. 

If any of these targets materialize, investors who sold XRP below the $1 mark would see themselves making similar mistakes as Wood’s Ark Invest did with Nvidia. However, there is no guarantee that XRP would replicate NVDA’s run. As a result, investors should not see EGRAG’s commentary as an investment charge.

Shiba Inu to $0.0007 and $0.004: Here’s What 50M, 150M, and 250M SHIB Would Be Worth at $0.0007 and $0.004

Sam Wisdom Raphael
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Shiba Inu to $0.0007 and $0.004: Here’s What 50M, 150M, and 250M SHIB Would Be Worth at $0.0007 and $0.004

Shiba Inu investors holding between 50 million and 250 million tokens will see their investments skyrocket at varying price targets.

The broader crypto market has hit a roadblock in recent times amid growing tensions in the Middle East. Bitcoin (BTC) collapsed from a high of $66K and is now struggling to retain the $60K psychological support. This downturn has impacted other crypto assets, including SHIB.

Shiba Inu Holders Resilient Amid Downturn

During the uptrend recorded in late September, Shiba Inu rebounded to a three-month peak of $0.00002169. However, with the recent correction, the dog-themed token has now slumped 24% to trade at $0.00001643 at the reporting time.

Despite the retracement, Shiba Inu investors remain optimistic, evident in its holders metrics. IntoTheBlock data indicates that addresses holding SHIB for over a year have increased from 1.06 million at the start of September to 1.07 million as of press time. This translates to an addition of 10,000 addresses.

Shiba Inu Holders by Time Held IntoTheBlock
Shiba Inu Addresses by Time Held | IntoTheBlock

Also, total Shiba Inu holders have grown from 1.29 million last October to the current figure of 1.35 million. Of this figure, addresses holding between 10 million and 1 billion SHIB have spiked to 379,380. These investors have retained their tokens in anticipation of a price surge to any of the circulating targets.

SHIB Holders Distribution Matrix IntoTheBlock
SHIB Holdings Distribution Matrix | IntoTheBlock

Amid the prevailing price targets, The Crypto Basic confirmed in May that Shiba Inu would surpass the $0.0007 milestone in 2029 if it gains by only 100% yearly. Meanwhile, in January, AI chatbots Google Bard and ChatGPT evaluated the possibility of SHIB making more millionaires if it hit $0.004.

Worth of 50M, 150M and 250M SHIB at Prices of $0.0007 and $0.004

Should any of these targets materialize, Shiba Inu holders could see substantial gains on their investments. For instance, investors holding 50 million SHIB are currently sitting on $821.5 at the current price. These tokens will be worth $35,000 if SHIB reaches $0.0007, and $200,000 if the $0.004 target plays out.

Meanwhile, those with 150 million tokens have investments worth $2,464 at the prevailing rates. The 150 million SHIB would skyrocket to $105,000 if Shiba Inu ever hits the $0.0007 price level. Moreover, these tokens’ worth will reach a whopping $750,000 if SHIB clinches $0.004.

Further, investors with 250 million SHIB currently hold bags worth $4,107 as Shiba Inu trades for $0.00001643. These tokens have the potential to reach a worth of $175,000 at a Shiba Inu price of $0.0007. However, if SHIB appreciates further to reach the $0.004 mark, the 250 million tokens will be worth $1 million.

While these figures can be rather enticing to market participants, it is important to note that there is no guarantee that Shiba Inu will reach the $0.0007 or $0.004 level. As a result, investors should not see this evaluation as a charge to invest in the dog-themed asset.

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