Shiba Inu has the potential to reach new price levels if it follows the trajectory of Ethereum, particularly if ETH reaches $85,000. The cryptocurrency market experienced a significant boost recently, with Ethereum outperforming and Shiba Inu gradually following suit. ETH reached $3,714 today, a 21% increase from its intraday low of $3,073. Similarly, Shiba Inu advanced by approximately 10%, reaching a multi-week high of $0.00002613. These gains coincided with Bitcoin regaining the $71,000 threshold it lost two months ago.
This outcome suggests the beginning of the second phase of the current bull run, where meme coins like Shiba Inu and other altcoins are expected to outperform Bitcoin. The Crypto Basic explored the potential market value of Shiba Inu in a scenario where Ethereum breaks price levels of $10,000 and $85,000.
To reach $10,000, ETH would need to increase by 172.26% from its current value of $3,673. This would mark a new historical milestone for Ethereum, valuing it at over $1.2 trillion. Similarly, if Shiba Inu mirrors Ethereum’s trajectory and increases by 172%, its market value would be $0.00006947, falling short of its all-time high but elevating its market share to $40.94 billion. However, analyst Jason Williams believes Shiba Inu could reach $0.05 in this market cycle.
If Ethereum reaches $85,000, it would have grown by 2,214% from its current value. According to on-chain analyst Yazan, this growth is possible by 2025. In a similar scenario, Shiba Inu’s value would reach a new all-time high of $0.000591, with a market cap of approximately $348 billion. Both Yazan and Williams believe Shiba Inu could reach $0.05, but their projections go against the widely held views of other industry commentators who argue that this target may not be achievable in the near future.
It is important to note that these projections should not be considered investment advice, and readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic does not take responsibility for any financial losses incurred.