Bitcoin
Here’s the price of Shiba Inu if SHIB captures 10% of Bitcoin’s valuation
The price of Shiba Inu will reach unprecedented levels if SHIB captures just 10% of the current market value of Bitcoin, the leading cryptocurrency.
With the broader crypto market witnessing a period of volatility and suppressed growth, Shiba Inu price has failed to recover its annual value well above $0.000045. SHIB currently changes hands at $0.00002434, down 1.77% in the last 24 hours and 4.31% in the last month. At the current price, the Shiba Inu is down nearly 46% from its annual peak.
Shiba Inu Price Targets
Despite the current turbulence, market watchers remain optimistic about an imminent price recovery, suggesting that the second round of rallies in the ongoing bull market could take SHIB to unprecedented highs. However, some targets, including the $0.05 targetwere discarded as unfeasible.
One of the main obstacles to some of these ambitious goals is the extensive circulating supply of Shiba Inu. With 589 trillion tokens in circulation, Shiba Inu needs to accommodate a huge amount of demand or burn through a large portion of your supply to conquer some of these targets.
Namely, if one or both of these actions do not occur, these audacious goals would translate into unrealistic market capitalizations for SHIB. For example, a price of $0.05 would lead to a market valuation of $29.4 trillion for Shiba Inu, making it the largest asset in the world and surpassing the combined market capitalization of Gold, Microsoft, Apple, Nvidia and Alphabet (Google).
SHIB price if it captures 10% of Bitcoin’s market cap
There is not enough money to support this type of market capitalization for SHIB. Amid speculation and uncertainty among market participants, The Crypto Basic assessed what the price of Shiba Inu would be at a more viable market value, specifically 10% of what Bitcoin currently has.
Market data confirms that Bitcoin, the largest cryptocurrency by market capitalization, currently has a valuation of $1.353 trillion, making it the ninth largest asset in the world. Notably, 10% of this valuation translates to $135.4 billion, still significantly lower than Ethereum’s market cap, which currently stands at $461.1 billion.
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However, if Shiba Inu were to claim such a market capitalization, its price per coin would see a substantial increase. Notably, if SHIB is circulating to supply remains fairly stable at 589 trillion tokens, a valuation of $135.4 billion will lead to a price of $0.0002298 for Shiba Inu. This represents an increase of 844% from the current price.
It is worth mentioning that such a target for Shiba Inu is completely viable even in the current bull run, given their ability to perform massive runs. Basic encryption evaluated that SHIB could realistically reach $0.0002 if it follows a similar trajectory to the previous bull run. However, despite the viability, it remains uncertain whether Shiba Inu will be able to reach that price.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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