Shiba Inu price could reach substantial heights if it ever clinches a market cap in the trillion-dollar range.
The crypto market presents ample opportunity for investors to secure considerable gains on their investments. While Bitcoin (BTC) pioneered the experience, altcoins like Shiba Inu have made massive contributions.
Shiba Inu Boasts Historic Run
For instance, a
previous report
from CoinGecko confirmed that SHIB turned a $13 investment to $1 million within 453 days during the 2020/2021 bull market, making it one of the most successful crypto assets and the most successful among the top 100 during that period.
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This historic run has influenced several bullish projections for Shiba Inu, with analysts expecting the crypto asset to witness a similar price explosion during the ongoing bull run. Notably, SHIB has already demonstrated its potential in the first phase of the ongoing bull market, having surged nearly 400% from late February to early March.
Some individuals are optimistic that the second-largest meme coin would not miss out on this bull run. However, the extent of its rally remains uncertain. While
the $0.00008 target
has featured prominently among analysts, others believe SHIB could clinch a
new high above $0.0001
.
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Meanwhile, the $0.001 and $0.01 targets have also made their way into these discussions. For instance, last month, analyst Crypto Sheriff
predicted
a long-term Shiba Inu target of $0.001 following a breakout. Market analytics resource CoinCodex also recently
discussed
how SHIB could reach $0.01.
Can SHIB Hit $0.001 and $0.01 at $10T Market Cap
However, despite the prevalence of these audacious targets, most investors remain skeptical. Altcoin Daily’s Aaron Arnold
argued last month
that it is impossible for Shiba Inu to reach $0.01. This skepticism is due to SHIB’s extensive circulating supply, which would lead to unimaginable market caps at such high prices.
Nonetheless, some argue that Shiba Inu has the capability of hitting greater market caps in the future as more capital flows into the market, eventually surpassing the previous peak of $40 billion attained in late 2021.
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Amid these projections, we recently assessed if SHIB could reach the $0.01 and $0.001 targets should its market cap hit an audacious $10 trillion. Notably, at a $10 trillion market valuation, Shiba Inu would boast a price of $0.0169, given its current circulating supply of 589 trillion tokens.
This price essentially puts
Shiba Inu
above the $0.01 price and the $0.001 level. However, while this presents a hypothetical scenario in which SHIB might claim these targets, the $10 trillion market valuation is highly improbable for SHIB, especially in the current market landscape.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.