If Shiba Inu's market capitalization reaches 150 billion dollars, its price will rise significantly to unprecedented levels.
Shiba Inu Coin joined the bullish trend in the market yesterday, continuing its recovery phase. Notably, this meme coin, the second largest by market capitalization, has risen 3% since the start of this week and is expected to achieve its first increase in five weeks.
Will Shiba Inu's market capitalization reach 150 billion dollars?
Meanwhile, data from IntoTheBlock shows a moderate correlation between Shiba Inu and the overall cryptocurrency market. In comparison, the correlation coefficient between Bitcoin and SHIB over the past 60 days is 0.61, Ethereum is 0.57, and Dogecoin is even higher at 0.86.
This indicates that the trend of Shiba Inu will reflect the broader bullish market trend. Therefore, as institutional investors enter the cryptocurrency market, analysts predict that major cryptocurrencies will rise significantly, potentially driving the market capitalization of Shiba Inu to 150 billion dollars.
Additionally, the development of the Shiba Inu ecosystem further enhances this optimism. Recent technical deployments and the strategic partnership with the UAE Ministry of Energy and Infrastructure (MOEI) have boosted market confidence, leading the market to believe that Shiba Inu will be able to withstand the current bearish trend and is expected to reach a market capitalization of 150 billion dollars.
The market capitalization of Shiba Inu has reached 150 billion dollars.
According to current rankings, it is the 19th largest cryptocurrency by market capitalization, valued at 7.65 billion dollars. Notably, if this figure rebounds to 150 billion dollars, it would exceed the peak valuation of 45 billion dollars in October 2021.
Currently, the total supply of Shiba Inu Coin (SHIB) is 589.5 trillion. Therefore, a market cap of 150 billion dollars would push the price to 0.000254 dollars, soaring 1856% from the current price. This would also push the price of this meme coin above its current all-time high of 0.00008845 dollars.
Is it possible to rebound to 0.000254 dollars?
Considering Shiba Inu's current trend, a surge of 1,856% to 0.000254 dollars seems somewhat ambitious. Achieving this price target would ensure its price adds another zero, propelling it towards new heights, such as 0.01 dollars.
Nevertheless, analysis indicates that this is possible. Market observers More Crypto Online emphasized in previous comments that Shiba Inu could rise between 0.0001 dollars and 0.0002 dollars, citing a bullish Elliott Wave pattern.
Furthermore, Changelly has also predicted the price of Shiba Inu, specifically indicating that it will be realized in May 2032.
However, the prediction website Telegaon forecasts a faster timeline, claiming a timeframe of 2028.
