Oscar Ramos, a respected market commentator, has confidently predicted that Shiba Inu will reach a $100 billion market cap, a milestone that could see it surpass Dogecoin in market value. His forecast comes during the asset’s recent strong performance, beating many top digital assets in the meteoric price rally.
Shiba Inu (SHIB) Strong Market Performance
The asset has experienced impressive growth, climbing 63% over the last seven days and 3.43% within the past 24 hours. As a result, its market cap has reached $16.2 billion, propelling the meme coin into the top ten cryptocurrencies by market capitalization. This growth has allowed it to surpass Tron and Toncoin, two major assets in the crypto space.
Ramos believes that Shiba Inu’s bullish momentum is just the beginning. He is positive that it will eventually reach a market cap of $100 billion. This would mark a dramatic increase from its current valuation and be a significant leap toward competing with the larger players in the crypto market.
Ramos Predicts $100 Billion Market Cap
Recently, Ramos reiterated his belief that the asset is on track to reach a $100 billion market cap. To put this prediction in perspective, Shiba Inu’s market cap would need to increase by over 517% from its current value of $16.2 billion to hit this $100 billion target.
If this happens, the token could surpass well-established cryptocurrencies like XRP, Dogecoin, Binance Coin (BNB), and Solana. This would place it among the top four largest digital assets by market cap. However, this assumes that other major assets maintain their current market values while Shiba Inu rises.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Achieving a $100 billion market cap would translate to a higher SHIB price. With a circulating supply of 589 trillion tokens, the price would rise to approximately $0.0001697. This is a substantial increase from its current price of $0.00002758, representing a 515% growth and approaching its all-time high of $0.00008845.
Such large price surges are not unheard of for the asset. Earlier this year, the token experienced a remarkable 379% increase, peaking at $0.00003568, showing that the meme coin is capable of strong price movements when market conditions align.
Analysts Agree on $100 Billion Potential
Ramos is not the only one predicting that Shiba Inu (SHIB) could reach a $100 billion market cap. Other analysts, such as Jake Gargain, have also supported this projection. Jake even said he would delete his X account if SHIB fails to hit this valuation.
The digital asset’s recent market rally has led many to believe it could soon achieve a $100 billion market cap. With strong backing from market analysts like Oscar Ramos, investors closely watch the meme coin’s potential for further growth.
If Shiba Inu (SHIB) reaches this target, its price could rise significantly, cementing its position as one of the top cryptocurrencies in the market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
