Shiba Inu’s potential price movements could see significant gains to $0.003, $0.0001015, $0.0001, and $0.0003117 if Bitcoin reaches $150,000, $325,000, $500,000, and $1 million, as projected by leading experts in the field.
Bitcoin remains the primary influencer in the broader cryptocurrency market. A recent downturn in Bitcoin’s value has triggered substantial declines across the market, impacting tokens like SHIB.
Despite this setback, experts remain optimistic about Bitcoin’s forthcoming bullish phase. Forecasts suggest Bitcoin could surge to levels of $150,000, $325,000, $500,000, and even $1 million.
Interestingly, there’s a consensus that Shiba Inu’s price could mirror Bitcoin’s gains if these projections materialize.
Correlation between Shiba Inu and Bitcoin
It’s widely acknowledged that Bitcoin’s price movements heavily influence other cryptocurrencies, including SHIB. Recent data from IntoTheBlock reveals a strong 85% correlation between Shiba Inu and Bitcoin over the past month, indicating a high level of price synchronization. Currently, Shiba Inu has seen a 4.97% decrease over the past week, closely tracking Bitcoin’s 5.27% dip during the same period.
Given this close correlation, analysts anticipate substantial price increases for Shiba Inu if Bitcoin reaches the anticipated price points of $150,000, $325,000, $500,000, and $1 million.
Projected SHIB Prices at Various Bitcoin Targets
For instance, renowned trader Wizard Crypto suggests that if Bitcoin hits $150,000 during the peak of the bull market, SHIB could potentially reach $0.003. This represents a remarkable 34,905% increase from its current price of $0.00001714.
If Bitcoin were to achieve $325,000, as predicted by asset manager VanEck, projections suggest Shiba Inu could surge to $0.0001015, marking a substantial 481% increase from its earlier valuation.
In a scenario where Bitcoin climbs to $500,000, experts speculate SHIB could achieve prices ranging between $0.0001 and $0.001. This would necessitate increases of up to 58,243% from its current trading price.
Looking further ahead, if Bitcoin were to escalate to $1 million by 2033, as forecasted by Bernstein, Shiba Inu could potentially rise to $0.0003117, reflecting a substantial 1,409% surge from its current valuation.
It’s important to note that this information serves as educational content and does not constitute financial advice. Readers should conduct thorough research and seek professional guidance before making any investment decisions.