Shiba Inu (SHIB) has the potential to reach its previous all-time high (ATH) if it maintains its dominance in the $10 trillion total cryptocurrency market capitalization.
On October 25, the prices of various cryptocurrencies, including Shiba Inu (SHIB), experienced a significant drop following reports of the U.S. government investigating Tether, the issuer of the USDT stablecoin, for potential violations of anti-money laundering regulations. As a result, the total cryptocurrency market decreased by 2.09% in a 24-hour period, reaching $2.27 trillion. Interestingly, Shiba Inu also suffered a similar decline during the same timeframe. This leading dog-themed token currently has a market capitalization of $9.95 billion, reflecting a 2.23% decrease in the past day.
Projections for the Global Crypto Market Cap
Although the current global cryptocurrency market cap stands at approximately $2.27 trillion, there are speculations that it will reach unprecedented levels in the future. Ripple CEO Brad Garlinghouse predicts that the global market valuation could reach $5 trillion by the end of 2024. Furthermore, several market observers expect the total cryptocurrency market cap to surpass even higher targets, such as $10 trillion, before the end of the 2024/2025 market cycle.
Shiba Inu’s Price at a $10 Trillion Global Market Cap
If the projected $10 trillion market cap becomes a reality, the prices of various cryptocurrencies, including SHIB, could experience a surge due to their market dominance. Currently, Shiba Inu has a valuation of $9.95 billion and a market dominance of approximately 0.44%.
If Shiba Inu maintains this 0.44% dominance when the global cryptocurrency market cap reaches $10 trillion, SHIB’s valuation could spike to $44 billion. This represents a 342.21% increase from its current market cap of $9.95 billion.
At a $44 billion valuation, Shiba Inu would trade at $0.00007466 per token, assuming the circulating supply of 589.26 trillion tokens remains relatively stable. However, this is still below Shiba Inu’s previous ATH of $0.00008616, which was recorded on October 28, 2021.
Potential Return on Investment (ROI)
Investors who acquire Shiba Inu tokens at the current price of $0.00001689 could potentially make a substantial profit of 342.21% if SHIB reaches a valuation of $44 billion. For example, a $1,000 investment in Shiba Inu today could rise to $4,422 if SHIB captures the $44 billion market cap.
Shiba Inu’s Potential Surge to $0.00007
Several analysts have projected that Shiba Inu will soon surge to the $0.00007 price mark. Analyst Alan Santana speculates that it will reach this level in early 2025. Additionally, a pseudonymous TradingView analyst, Without_Worries, has forecasted a potential rally of 400% for Shiba Inu using key technical indicators. According to this analyst, the surge could drive SHIB’s price to around $0.000074.
Although these predictions may be enticing, it is important to exercise caution when investing in cryptocurrencies, including Shiba Inu.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.