If Shiba Inu follows Bitcoin’s trajectory and reaches the projected thresholds of $250,000 and $777,000, it could see unprecedented floor prices. The crypto market recently faced bearish forces as Bitcoin dropped back into the $70,000 range. Bitcoin experienced a 7.76% dip, while Shiba Inu saw a more significant drop of 12%.
However, Bitcoin has since resumed its uptrend and reached a high of $69,220 in the past 24 hours. Altcoins like Shiba Inu have also followed suit, with SHIB rallying 6.25% from its previous low of $0.00002352 to trade at $0.00002499.
As expectations grow for Bitcoin to reach all-time highs of $250,000 or even $777,000, there is speculation about Shiba Inu’s potential price. If Bitcoin reaches $250,000, analyst Jason Williams suggests that Shiba Inu could reach $0.05.
While a 264% surge in Bitcoin to $250,000 would only put Shiba Inu at $0.00008947, Williams believes that altcoins like Shiba Inu have historically outperformed Bitcoin. For example, after the 2020 halving, Bitcoin saw a 721% gain, while Shiba Inu soared by 884,400%, eliminating three zeros within a year.
If Bitcoin reaches $777,000, on-chain analyst Yazan suggests that Shiba Inu could reach $0.0002780. This would require a 1,031% surge in Bitcoin, similar to the percentage growth proposed by Yazan.
With Shiba Inu currently trading at $0.00002458, reaching the projected $0.05 target would imply a rally of 203,317% by next year.
It’s important to note that these projections would result in significant market caps for both Bitcoin and Shiba Inu. A $777,000 price per BTC would give Bitcoin a market cap of over $15.31 trillion, while a $0.05 price per Shiba Inu would result in a market cap exceeding $29.46 trillion, nearly double that of Bitcoin.
However, it’s worth noting that these scenarios have been dismissed as wishful thinking by many experts. While there is excitement about the potential of Shiba Inu, it is important to conduct thorough research before making any investment decisions.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely those of the author and do not reflect the opinions of The Crypto Basic. Readers should conduct their own research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.