Home Blog Page 748

Pundit Says Buying XRP Under $5 is Like Buying Bitcoin at Its Lowest Earlier Point

Sam Wisdom Raphael
-
0
Pundit Says Buying XRP Under $5 is Like Buying Bitcoin at Its Lowest Earlier Point

An XRP community commentator has suggested that investors buying XRP at the current price is similar to procuring Bitcoin during its early days.

Notably, this commentary comes when XRP is witnessing range-bound movements amid a general market lull. Interestingly, Bitcoin (BTC) recently staged a recovery effort, surpassing $97,000 for the first time in nearly two months. However, XRP’s price action failed to reflect this rebound, triggering fresh concerns among investors.

Community commentators like the one who calls himself “Time Traveler” look to discourage such concerns, pointing to XRP’s potential for massive growth. In his latest commentary, “Time Traveler” compared XRP’s current position to Bitcoin’s early days despite the former already being over a decade old.

Buying XRP Now is Like Buying Bitcoin in Its Early Days

The analyst acknowledged that some XRP holders do not expect their modest balances to amount to much in the future. This is particularly natural, as modest holdings such as 1,000 to 10,000 XRP might not yield life-changing gains even if XRP claims two-figure targets like the $27 goal. 

However, “Time Traveler” believes XRP has the potential to reach price targets that could transform these modest balances into fortunes. The analyst cited Bitcoin’s historical performance in his commentary.

He pointed out that Bitcoin had a historic low of $0.05 in July 2010. At this price level, if an investor had committed a meager $0.01 (1 penny) to Bitcoin, he would have amassed 0.2 BTC. However, with Bitcoin trading for $94,042 at the time of the analysis, this 0.2 BTC would be worth $18,808, a massive ROI of 188,079,900%.

Moreover, if an early adopter had invested more into Bitcoin at the time, say just $50, he would have procured 1,000 BTC tokens. At the price of $94,042, these 1,000 tokens would appreciate to around $94 million, transforming a modest investment into a fortune.

Drawing on Bitcoin’s impressive ROI over the past decade and a half, “Time Traveler” suggested that XRP could follow a similar pattern. According to him, procuring XRP below the ambitious $100 mark or even $5 would be like buying Bitcoin when it traded at its historic lows.

Optimism Around XRP’s Future

This daring comparison comes on the heels of growing optimism that XRP could see substantial gains in the future. For instance, several market analysts have insisted that XRP has the potential to hit $100. Alpha Lions Academy’s Edoardo Farina even suggested in March that XRP ought to be trading above $100 under normal circumstances.

Most recently, community figure BarriC noted that he bought XRP at lower prices to cash out at lofty targets of $100 and $1,000, not to be shaken out at $2. Meanwhile, analysts at crypto platform Changelly see XRP reaching $100 between 2034 and 2040, and $1,000 by July 2040.

Hoskinson Says Integrating Cardano with XRP and Bitcoin Will Quadruple Its TVL Beyond Ethereum and Solana Combined

Lele Jima
-
0
Hoskinson Says Integrating Cardano with XRP and Bitcoin Will Quadruple Its TVL Beyond Ethereum and Solana Combined

Cardano founder Charles Hoskinson shares his vision to foster mutually beneficial synergies with the Bitcoin and XRP Ledger ecosystems. 

During a recent conversation with Sam North, a market analyst at eToro, the Cardano founder revealed how he intends to solve some ‘big problems’ in the XRP Ledger (XRPL) and Bitcoin (BTC) ecosystems. 

He noted that while Ripple has a large ecosystem with sufficient funds, the XRP Ledger, which powers most of the company’s technological solutions, still has some limitations revolving around smart contract functionality. 

The Cardano founder noted that these limitations have hindered developers from doing much on XRPL. However, he suggested that a computation layer could be grafted onto the XRP Ledger. This could allow real-world assets (RWAs) and banking relationships to enter the XRPL ecosystem. 

Once this is done, the Cardano founder expects XRPL to have a smart contract layer. 

XRP and Bitcoin to Quadruple Cardano TVL Beyond Solana and Ethereum Combined  

Hoskinson speculated that Cardano’s growth over the next five years would come from XRP and Bitcoin. He noted that this outlook is achievable when the team behind Cardano does things for Bitcoin and XRP, like integrating both assets into Cardano’s privacy blockchain, Midnight. 

In his view, the assistance rendered to the Bitcoin and XRPL projects would also benefit Cardano. In particular, he asserted that this support could significantly boost the total value locked on Cardano, potentially quadrupling the combined TVL of Solana and Ethereum. 

For context, while Ethereum and Solana have a combined TVL of around $72 billion, Cardano’s TVL is currently at $393 million, according to data from DeFiLlama. 

In parallel, for Cardano’s TVL to be four times larger than Ethereum and Solana combined, its current TVL must increase by 73,182% to $288 billion. 

Despite the monumental surge required for Cardano to quadruple Ethereum and Solana’s combined TVL, Hoskinson remains confident that it is achievable through win-win synergies with the XRP and Bitcoin ecosystems. 

Hoskinson’s Support for XRP 

Since Hoskinson ended his multi-year dispute with the XRP community, he has hinted at new partnerships between the Cardano and Ripple teams. While he has had discussions with Ripple execs like David Schwartz and Brad Garlinghouse, there has been no official partnership announcement yet. 

Nonetheless, Hoskinson has continued to support XRP. This includes adding XRP support to Cardano’s native Lace wallet. Moreover, he disclosed that XRP holders will participate in the upcoming airdrop for Midnight tokens–NIGHT and DUST. 

In the meantime, Hoskinson has expressed interest in having Ripple expand the support of its RLUSD stablecoin to Cardano. 

Researcher Shares ‘Proof’ from Ripple Codebase ‘Linking’ XRP to ISO 20022

Abdulkarim Abdulwahab
-
0
Researcher Shares ‘Proof’ from Ripple Codebase ‘Linking’ XRP to ISO 20022

XRP community researcher “SMQKE” has uncovered what they describe as direct evidence from Ripple’s and R3 Corda’s codebases, confirming XRP’s compatibility with ISO 20022.

The post also emphasized XRP’s potential to integrate seamlessly with the SWIFT network.

Notably, in the screenshot from RippleNet’s JSON schema, the term “ISO20022 ExternalClearingSystemIdentificationCode List” is explicitly referenced under the “externalClearingSystem” definition.

SMQKE interpreted this as confirmation that Ripple’s architecture aligns with ISO 20022 standards, the global messaging format that governs financial data exchange across SWIFT and other major payment systems.

The prevailing view is that by structuring its schema around ISO 20022 identifiers, Ripple sets XRP up for regulatory and technical compatibility with banks and financial institutions already transitioning to this new messaging standard.

Significantly, Ripple is among the first crypto firms to claim alignment with ISO 20022. XRP proponents often use this connection to suggest that XRP itself is part of the standard. However, this view is widely debated. 

Despite counterstatements from Ripple’s CTO, David Schwartz, the debate has not subsided, and proponents like SMQKE continue to advance this narrative.

 

XRP and SWIFT Services Imported in R3 Corda Code

Meanwhile, SMQKE’s post also included a second image from R3 Corda’s codebase, revealing imports for both XRP and SWIFT services within the same module. Lines of code clearly show imports for:

  • XrpPayment
  • XrpSettlement
  • SWIFTService
  • SWIFTPaymentStatusType

According to SMQKE, this integration suggests that XRP and SWIFT-based operations can coexist within the same enterprise blockchain infrastructure. However, some in the XRP community disagree. They stress that XRP aims to replace legacy systems like SWIFT rather than coexist with them.

In the tweet, SMQKE emphasized that this supposed technical alignment enables Ripple and the XRP Ledger (XRPL) to host seamless settlement capabilities for SWIFT-enabled institutions, potentially leading to broader institutional adoption.

Clarifications about the XRP Appearance in the Codebases

While speculation around XRP’s ISO 20022 readiness and its use in R3 Corda for settlement has circulated for years, proponents frequently point to these direct code references as concrete proof.

However, critics note that these codes stem from an initial proof of concept involving XRP. The full integration never materialized and even led to legal complications between R3 Corda and Ripple.

The persistence of this debate, despite clarifications, shows the enthusiasm within parts of the XRP community to promote a promising future for the asset. Still, even some community members have grown indifferent, arguing that ISO 20022 compliance—assuming it even exists—is not particularly extraordinary or meaningful.

Bitcoin Shorts Underwater as Price Hovers Above $104K

Mark Brennan
-
0
Bitcoin Shorts Underwater as Price Hovers Above $104K

As Bitcoin trades above $104,000, several large traders have initiated high-risk short positions, exposing themselves to steep liquidation threats. 

Leveraged bets against Bitcoin’s current bullish momentum are mounting, with at least three whale traders deploying massive capital using up to 40x leverage. These positions are already incurring heavy unrealized losses, while ongoing funding payments offer limited compensation against market pressure.

Whale Wallet Faces Liquidation Risk at $105,700

According to a disclosure from blockchain resource Lookonchain, wallet address 0x51d9 has opened a $93 million short position on Bitcoin, deploying 40x leverage. 

With BTC hovering around $104,000, a price increase of just 1.5% would trigger liquidation. The calculated liquidation price is $105,700, leaving the position only 1.55% away from being forcibly closed. As of now, this trade is in a deep unrealized loss exceeding $500,000, suggesting the position entered before BTC pushed higher.

To offset losses, the short is earning roughly $34,000 in positive funding. However, the funding amount remains small compared to the current drawdown.

In addition, the same wallet placed a $1.1 million short bet on Lido DAO (LDO) using 10x leverage. Entry occurred at $1.08162, and the current unrealized loss is $22,379. The LDO position has more breathing space, with liquidation only occurring if the price surges 79% to $1.9761.

Separate $44M Short Sees $515K in Unrealized Loss

Another wallet, identified as 0x5D2F…8Ab39Bb7, entered a $44 million short position on Bitcoin at $103,494.40, also using 40x cross leverage. 

This position, already underwater, is showing an unrealized loss of $515,348.53 with BTC now trading at $104,720. The position places the liquidation price significantly higher, at $112,660, allowing roughly a $9,000 buffer before closure.

Despite the unrealized loss, the position has earned $51,711.71 in positive funding. This reflects continued dominance of long interest in the broader market. However, if upward momentum persists, short positions such as this one may be forced to buy back, increasing volatility.

Third Whale Enters at $95,969 with 40x Exposure

Elsewhere, a third trader initiated a $69.7 million Bitcoin short using 40x leverage, with an entry price of $95,969. The liquidation threshold was notably close at $103,470. With Bitcoin price at $104,088, this trader would already be liquidated.

Massive Shorts Already Liquidated

Over the past 12 and 24 hours, Bitcoin (BTC) derivatives markets have seen significant short-side liquidations, signaling strong upward price pressure. In the 12-hour window, $66.66 million was liquidated, with $51.25 million from shorts.

Screenshot 2025 05 12T112123819
Bitcoin Liquidation Data

Similarly, in the 24-hour period, $82.58 million in positions were wiped out, with $60.97 million from shorts, compared to just $21 million in longs.

SBI Says XRP in Escrow Won’t Count Toward Valuation Until Ripple IPO, Eyes ¥1 Trillion for Its Crypto Asset Business

Sam Wisdom Raphael
-
0
SBI Says XRP in Escrow Won’t Count Toward Valuation Until Ripple IPO, Eyes ¥1 Trillion for Its Crypto Asset Business

SBI Holdings, one of Japan’s largest financial services groups, has indicated that it will only recognize the valuation of its Ripple shares once the firm goes public or receives an equivalent formal valuation. 

As revealed by XRP community figure Eri, the disclosure came as part of SBI’s annual financial report for the year ended March 31, 2025, where the company detailed its crypto asset business ambitions and hinted at explosive growth potential tied to its longstanding investment in Ripple.

SBI Reports Stellar Financial Year

The report confirmed that SBI had a stellar year, with revenue surging 19.3% year-on-year to ¥1.44 trillion and profit before tax nearly doubling to ¥282.3 billion. Profit attributable to shareholders climbed 85.8% to ¥162.1 billion, driven by strong performance across multiple sectors, particularly in crypto and venture investments. 

The crypto asset division alone recorded ¥80.8 billion in revenue, marking a 41.4% annual increase, while pre-tax profit in this segment jumped 151.8% to ¥21.2 billion due to rising cryptocurrency prices.

In this context, SBI emphasized that it holds unlisted Ripple shares, and the value of XRP held in Ripple’s escrow account, referred to internally as X-Grow, is not currently reflected in the company’s balance sheet. 

SBI To Price in XRP Exposure After Ripple IPO

Notably, SBI clarified that only once Ripple undergoes an IPO or obtains a recognized valuation will this asset be priced in, potentially resulting in a dramatic increase in profit. 

SBI projects that, if unlocked, this unrealized value could exceed ¥1 trillion, pushing the company’s crypto asset business toward its stated goal of managing over ¥1 trillion in assets, up from the current ¥900 billion.

SBI’s involvement with Ripple began over a decade ago, having invested in the company as early as 2012. The financial giant holds just under 10% equity in Ripple, making it the firm’s largest external shareholder. 

Over the years, the partnership has deepened through strategic initiatives such as SBI Ripple Asia, a joint venture launched in 2016 to promote RippleNet solutions across Asia, and MoneyTap, a mobile payments app powered by Ripple’s technology. Additionally, SBI Remit has been actively using XRP for international money transfers since 2021, particularly in Southeast Asia.

Despite growing market interest, Ripple’s IPO remains a prospect rather than an immediate plan. CEO Brad Garlinghouse previously stated that taking Ripple public is not an urgent priority, citing the company’s solid balance sheet. 

However, he did suggest that an IPO could become feasible by late 2025 or 2026 if the regulatory landscape improves, particularly after the partial resolution of Ripple’s legal battle with the U.S. Securities and Exchange Commission. Market speculation suggests that a Ripple IPO could command valuations upwards of $100 billion, particularly if global XRP adoption continues.

Whale Longs XRP with $12M After Netting $10M Profit from Ethereum Price Surge

Albert Brown
-
0
Whale Longs XRP with $12M After Netting $10M Profit from Ethereum Price Surge

A prominent crypto whale has drawn attention by opening a long position on XRP with $12 million. 

According to data from blockchain analytics firm Lookonchain, the whale first capitalized on Ethereum’s early May 2025 rally, securing over $10 million in unrealized gains. However, the focus shifted to XRP, as the same entity recently initiated a long, $12 million leveraged position in the asset. 

This XRP bet, placed just hours before Lookonchain’s update on May 12, 2025, accumulated over $260,000 in paper profits.

Gains on Ethereum Set Stage for XRP Long

The whale’s Ethereum strategy unfolded early in the rally, as ETH climbed from around $1,800 to above $2,500 within less than a week. By May 11, Lookonchain confirmed that the trader’s long ETH position had yielded a substantial unrealized profit of more than $10 million. 

This successful execution appears to have laid the groundwork for the next strategic step. Now, the same whale shifted focus to XRP, opening a 2x leveraged position valued at nearly $12 million.

This XRP position has quickly become profitable. Within eight hours, the trade was already up by $261,000. Over the past seven days, XRP posted an over 10% increase, moving from $2.1 to $2.4.

Anticipating XRP’s explosive Rally

Essentially, this positioning suggests this entity is anticipating XRP’s explosive growth, as the coin has yet to capitalize on the ongoing bull momentum in the market.

Despite a modest price increase of over 11% in the past week, XRP has remained relatively subdued compared to earlier market surges. Recall, XRP saw a strong rally that peaked in January 2025, briefly pushing its price above the $3 mark. Following that high, the asset entered a corrective phase, even slipping below the $2 threshold around April.

Massive XRP Accumulation

In parallel to the leveraged position, on-chain analyst Ali Martinez reported that whales have accumulated over 880 million XRP in the past month. This data point aligns with growing speculation about coordinated activity by large holders. Martinez’s findings suggest these entities may be positioning for further market movement.

Furthermore, blockchain monitor Whale Alert flagged two significant XRP transactions. The first involved a transfer of 70 million XRP, equivalent to roughly $148.3 million, between unknown wallets. 

Meanwhile, another 300 million XRP, worth approximately $633.7 million, moved from Ripple to an unidentified address. The timing and size of these transactions have raised questions in the XRP community. 

NBA Legend Says He’s Bullish on Shiba Inu, Claims Altcoin Season Is Here

Lele Jima
-
0
NBA Legend Says He’s Bullish on Shiba Inu, Claims Altcoin Season Is Here

Renowned NBA player Scottie Pippen declares that the highly anticipated altcoin season has commenced while expressing his interest in Shiba Inu (SHIB). 

Pippen made the declaration about the altcoin season as the prices of alternative cryptocurrencies spike. In the tweet, he stated that the ‘Altcoin Season is here,’ suggesting that the crypto market has entered a phase where alternative cryptocurrencies outperform Bitcoin. 

Pippen Bullish on Shiba Inu 

Pippen called on his followers to reveal the alternative cryptocurrencies they are most bullish on. Interestingly, he highlighted Shiba Inu as one of the altcoins he is personally watching. 

His mention of Shiba Inu suggests that he is anticipating a massive price spike for SHIB in the current altcoin season. Meanwhile, Pippen also mentioned other tokens he is interested in, such as Ethereum, Solana, XRP, Dogecoin, Cardano, and Mog Coin. 

It bears mentioning that the prices of top altcoins have spiked tremendously over the past few days. This spike indicates that investors are committing more funds to these altcoins, leading to a rally. 

Shiba Inu’s Latest Performance 

Shiba Inu has witnessed a significant price surge in the past week. While Shiba Inu has soared 29.04% in the past seven days, Bitcoin has experienced a more modest growth of 10.09% within this period. 

This came after Shiba Inu hit a multi-month high of $0.00001720 over the weekend and overtook Stellar (XLM) to become the 14th biggest cryptocurrency by market cap. 

Although SHIB’s price has retraced to the $0.000016 mark, the canine-themed token is still maintaining the 14th position in the global crypto ranking. 

Has Alt Season Commenced? 

Following the surge in altcoin prices, including that of Shiba Inu, some enthusiasts like Pippen believe that the highly anticipated altcoin season has commenced. However, data from CoinMarketCap indicates that the market is far from the alt season. 

According to CoinMarketCap, the market would be in ‘Alt Season’ when 75% of the top 100 altcoins, excluding stablecoins, outperform Bitcoin in the past 90 days. 

At the moment, only 35% of the top 100 altcoins have achieved this feat, with Shiba Inu not included. While Bitcoin has seen gains of 6.11% in the past three months, Shiba Inu’s price has soared by only 3.31%. 

CoinMarketCap Altcoin Season Metric
CoinMarketCap Altcoin Season Index

Despite this, Shiba Inu enthusiasts have remained bullish on SHIB. Some analysts, like Oscar Ramos and Eunice Wong, believe SHIB will hit the $0.0001 price target this season, marking a new all-time high for the token. 

In the meantime, Shiba Inu is currently trading at $0.00001652, representing a 24-hour increase of 1.25%. To hit the $0.0001 mark, Shiba Inu must soar by 505% from its current price. 

Here’s What $10,000 in XRP Could Turn Into by 2030

Sam Wisdom Raphael
-
0
Here’s What $10,000 in XRP Could Turn Into by 2030

Investors with $10,000 in XRP could witness an impressive increase in their investments over the next five years depending on XRP’s growth rate.

Community commentators like Edoardo Farina believe investors should leverage this phase to amass more XRP tokens. In particular, Farina has championed the narrative that an investor ought to hold at least 10,000 XRP to secure a successful future. These suggestions come from confidence in XRP’s potential.

Amid the bullish sentiments, The Crypto Basic sought to determine how much an investment of $10,000 in XRP today could yield by 2030, essentially five years later. To assess this, we sourced XRP price predictions from multiple platforms, including Changelly, and AI chatbots Google Gemini and xAI’s Grok.

Gemini Predicts How Much $10,000 in XRP Will be Worth by 2030

Notably, Gemini suggested that XRP’s bear case for 2030 could see the asset trade at a low of $0.13, representing a 94% decline from the current price of $2.18. According to the chatbot, this could materialize if XRP sees limited adoption, heightened competition, and regulatory setbacks.

XRP Price Predictions for 2030 Gemini
XRP Price Predictions for 2030 | Gemini

Meanwhile, Gemini sees XRP rising to between $5.10 and $6.28 by 2030 in its base case, a 134% to 188% rise. It cited the gradual adoption of XRP for cross-border payments. However, the bull case projects an XRP price surge to a range of $12.68 to $29.32, based on institutional adoption, XRP ETF approval, and XRP’s role in tokenization and payments.

Notably, $10,000 in XRP currently amounts to 4,587 XRP tokens. If XRP trades at Gemini’s bear case of $0.13, these tokens would be worth $596 by 2030. However, the base case would push their worth to a range of $23,394 to $28,807. In the bull case, they would be valued at $58,165 to $134,495.

Grok’s and Changelly’s Predictions 

Grok AI believes XRP’s bear case would only see the asset trade at $1.5 by 2030, citing regulatory challenges and competition. It sees XRP hitting $5 by 2030 in the base case if it observes steady adoption in cross-border payments. However, a bull case could push XRP to $12 based on widespread institutional adoption.

XRP Price Predictions for 2030 Grok
XRP Price Predictions for 2030 | Grok

Essentially, the 4,587 XRP (currently worth $10,000) would drop to $6,880 in 2030 if Grok’s bear case materializes. For the base case, the tokens would rise to $22,935. Nonetheless, the bull case would push the worth of these tokens to $55,045 by 2030. 

Meanwhile, analysts at crypto platform Changelly believe XRP would close 2030 with a minimum price of $18.48 in December and an average price of $19.12. They believe the asset’s maximum price sits at $21.25 for December 2030.

XRP Price Predictions for 2030 Changelly
XRP Price Predictions for 2030 | Changelly

If follows this forecast, the 4,587 tokens would be worth $84,770 in the minimum case and $87,706 for the average case. Further, the investment would grow to $97,477 when considering the maximum price prediction for December 2030.

Here Are XRP Price Predictions if Its Market Cap Hits $700B, $1.5T, and $3T

Abdulkarim Abdulwahab
-
0
Here Are XRP Price Predictions if Its Market Cap Hits $700B, $1.5T, and $3T

XRP boasts a market cap of around $140 billion, making it the fourth-largest crypto asset, behind only Bitcoin, Ethereum, and Tether’s USDT.

At this valuation, XRP has a unit price of $2.40, following a 9% surge over the past week. Although XRP has hovered around the $2 mark for over three months, analysts have projected much higher valuations for the asset in this cycle and the coming years.

Given the widespread optimism surrounding XRP’s future performance, The Crypto Basic analyzes the potential prices of XRP at ambitious market caps of $750 billion, $1.5 trillion, and $3 trillion.

XRP Price at $750B Cap

XRP currently has a circulating supply of 58.55 billion tokens. Based on this supply:

At a $750 billion market cap, XRP’s price would be approximately $12.81 per token. This would mark a new history for XRP, moving into double-digit territory. This valuation requires a 433.73% increase from its current price of $2.40.

Remarkably, a $750 billion valuation would place XRP ahead of JPMorgan Chase, currently valued at $703 billion. Instead, XRP would be in direct competition with Walmart, which has a valuation of $773 billion.

XRP Price at $1.5 Trillion — Ahead of Meta (Facebook)

Even loftier price targets await XRP if it continues its rally and crosses the trillion-dollar threshold. Specifically, a $1.5 trillion market cap would result in a unit price of $25.62, based on the current circulating supply. 

Many crypto analysts like Davinci Jeremie argue that $25 is a reasonable target for XRP in this cycle. Some suggest this level could be achieved during a potential XRP supercycle. XRP would need to rise 967.5% from its current value to reach this price. 

Interestingly, a $1.5 trillion valuation would put XRP ahead of Meta Platforms (Facebook), which is currently valued at approximately $1.489 trillion.

At that level, XRP would be challenging Saudi Aramco, which has a valuation of $1.601 trillion. Moreover, reaching a $1.5 trillion market cap would position XRP among the top ten most valuable assets globally.

XRP Price at $3 Trillion — Ahead of Apple and Google

Should XRP’s bull run extend even further and its market cap double to $3 trillion, its unit price would be $51.24. This scenario would require an extraordinary growth of 2,035% from today’s value.

A $3 trillion valuation would place XRP ahead of tech giants like Apple, NVIDIA, Amazon, and Google. It could even potentially surpass Bitcoin, currently at a $2.06 trillion market cap, especially if BTC doesn’t grow at a comparable rate.

Global market valutions
Global market valuations

Bitcoin would only remain ahead of XRP if it traded above $152,000 when XRP is priced at $52. Otherwise, XRP could potentially become the most valuable cryptocurrency.

If XRP reaches any of these widely speculated valuations in this cycle, it would break multiple records on the global financial stage. However, many market commentators believe that a $52 target for XRP is overly optimistic and likely inflated.

Shiba Inu Price Forecast: Here’s What SHIB Could Be Worth If Bitcoin Hits a $200 Trillion Market Cap

Lele Jima
-
0
Shiba Inu Price Forecast: Here’s What SHIB Could Be Worth If Bitcoin Hits a $200 Trillion Market Cap

Shiba Inu might eliminate two zeros from its price and surpass the $0.001 mark if it closely mirrors Bitcoin’s growth to a market cap of $200 trillion. 

Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is still struggling to revisit the $100,000 mark several months after dropping from that level. Recall that the last time Bitcoin traded above the $100,000 mark was on February 7, when its price reached a daily high of $100,154. 

Since then, despite multiple attempts, Bitcoin has failed to revisit the $100,000 mark. Currently, Bitcoin is trading at $95,563, with its market cap standing at $1.89 trillion.

Blockstream CEO Predicts Bitcoin Surge to $200T Market Cap 

Nonetheless, most Bitcoin proponents are focusing on the asset’s future prospects instead of its short-term performance. One Bitcoin enthusiast with this mindset is Adam Back, the CEO of Blockstream, who recently issued a bullish prediction for BTC. The Crypto Basic reported last week that Back envisioned Bitcoin reaching an audacious market cap of $200 trillion. 

Back suggests that companies like MicroStrategy could propel Bitcoin to the $200 trillion target by swapping their cash reserves for BTC. He noted that these companies are early bettors of hyperbitcoinization, a hypothetical scenario in which Bitcoin replaces fiat in exchange for goods and services.

If Bitcoin hits a market cap of $200 trillion, BTC’s price would be worth $1 million, assuming there are 20 million BTC in circulation. 

Shiba Inu Correlation with Bitcoin 

Such a remarkable surge could have a ripple effect across the broader crypto market, benefiting assets like Shiba Inu (SHIB). 

This speculation is driven by Shiba Inu’s close correlation with Bitcoin, which stands at 92% over the past 30 days and 85% in the past two months. Based on this correlation, it is evident that Shiba Inu has closely followed Bitcoin’s price action in recent times. 

Shiba Inu correlation with Bitcoin
Shiba Inu correlation with Bitcoin

Therefore, should Bitcoin experience an increase, this would result in a spike in Shiba Inu’s value. Notably, Shiba Inu’s correlation with Bitcoin might have a negative impact on SHIB’s price action, especially if BTC underperforms. 

Shiba Inu Price If Bitcoin Hits a $200T Valuation 

However, in a scenario where Bitcoin’s market cap hits $200 trillion, as predicted by Blockstream’s CEO, Shiba Inu could hit a new ATH if it stays correlated with BTC. 

Hitting the $200 trillion market cap from Bitcoin’s current valuation of $1.89 trillion demands a surge of 10,482%. If Shiba Inu’s valuation also grows at this rate, SHIB’s market cap would increase from the current value of $7.6 billion to $804.23 billion. 

At this market cap, 1 SHIB token would be worth $0.001364, assuming Shiba Inu’s supply of 589.24 trillion tokens remains constant. The projected target of $0.001364 represents an increase of 10,482% from the current value of $0.00001588. 

Is $0.0013 Feasible for Shiba Inu 

While the $0.001364 target demands a monumental increase from the current price, some analysts still think Shiba Inu can achieve the milestone within a few years from now. 

For instance, established experts at crypto trading firm Changelly predict that Shiba Inu might clinch the $0.0013 target between 2035 and 2039, 10 – 14 years from this year. 

In their previous analysis, these experts forecasted that SHIB would not hit the $0.00136 target until 2040. However, their latest prediction indicates that they expect SHIB to clinch the price target sooner, potentially driven by increased adoption of SHIB and Shibarium. 

According to leading prediction platform Telegaon, Shiba Inu will surpass the $0.001364 target by 2035, precisely 10 years from today. 

Despite this analysis’s lucrative potential, it should not be referenced as investment advice. The speculative nature of cryptos makes it challenging to predict the future performance of assets like Shiba Inu accurately. 

Also, this analysis underestimates Shiba Inu’s performance, particularly in an event when Bitcoin rises to a market cap of $200 trillion. Shiba Inu has a track record of outperforming Bitcoin during a bull market, as observed in the 2020/2021 cycle. Therefore, SHIB could surpass the $0.001364 target if Bitcoin hits the $200 trillion market cap. 

1...747748749...2,643Page 748 of 2,643