Shiba Inu (SHIB), Dogecoin’s main competitor, has been earmarked as one of the tokens with incredible potential to appreciate in this year’s bull season, having shown similar potential in previous market cycles.
At the time of press, Shiba Inu (SHIB) is trading at approximately $0.000025, having recorded a 0.6% upswing in the past 24 hours, according to CoinGecko’s statistics. The canine-themed token is currently the twelfth most valuable cryptocurrency by market capitalization, worth about $14.62 billion and a 24-hour trading volume valued at approximately $337.5 million.
Read Also: A Closer Look At Potential Return of $100 Shiba Inu Investment If SHIB Hit $0.001
While several factors seem to contribute to SHIB’s anticipated price ascent, Bitcoin’s (BTC) influence remains a dominant player whose influence could potentially dominate other catalysts. Consequently, this insight will estimate how SHIB will spike if BTC eventually hits $500,000 or $1,000,000.
Potential SHIB Price If Bitcoin Hits $500,000 Or $1,000,000
According to Bitcoin’s market readings on CoinMarketCap, the world’s number one cryptocurrency is changing hands at about $68,580 after recording a slight 0.6% decline in the last 24 hours.
Attaining a $500,000 and $1,000,000 price mark from Bitcoin’s current price standings would require spikes of about 629.1% and 1,358.15%, respectively.
Should SHIB replicate a similar price appreciation, it could rise to $0.00018 when BTC hits $500,000. On the other hand, SHIB will hit $0.00036 once BTC touches $1,000,000.
Possibilities Of Bitcoin Hitting $500,000 Or $1,000,000
Bitcoin at $500,000 or $1,000,000 does not seem impossible, considering how far the token has continuously expanded over the years after gracing the crypto market as the flagship cryptocurrency.
In one of our previous reports, former X Chief Executive Officer (CEO) Jack Dorsey predicted that BTC could attain a $1 million price mark in 2030, citing BTC’s collaborative community as a significant driving factor. Jack’s assertion invariably implies that BTC would eventually hit $500,000 before 2030.
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Read Also: How Much To Invest Now to Attain Millionaire Status at $0.00001 Shiba Inu (SHIB) Price
Possibilities Of SHIB Hitting Either $0.00018 Or $0.00036
While $0.00018 or $0.00036 might seem relatively higher than Shiba Inu’s $0.00008616 all-time high (ATH), the possibilities of either price target playing out do not appear far-fetched as it only involves deleting another zero in its market value, after eliminating one zero earlier this year.
Moreover, Oscar Ramos, a renowned Shiba Inu enthusiast, has speculated in an old publication that SHIB would break above $0.00017 by 2025.
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