Popular meme coin, Shiba Inu is the center of analyst discussions amidst the ongoing cryptocurrency market correction. While some analysts view SHIB as a potential long-term investment, others remain cautious about its future direction.
SHIB Seen as Portfolio Diversification Option
Pseudonymous analyst Blockchainedbb recently weighed in on the merits of investing in SHIB during a market downturn. Blockchainedbb suggested that SHIB’s large-cap status makes it a potentially less volatile option compared to ultra-low-cap meme coins.
While acknowledging SHIB’s current price decline, the analyst argued that its larger market capitalization offers a degree of stability compared to riskier assets that could experience steeper drops during corrections.
This perspective suggests that SHIB might be suitable for investors seeking to diversify their portfolios with a holding that carries some risk but potentially offers higher returns than established mid-cap cryptocurrencies.
Blockchainedbb specifically recommended SHIB for individuals with smaller portfolios who might be worried about venturing into the highly volatile world of ultra-low-cap meme coins.
Shiba Inu (SHIB) Will Hit $100 Billion Market Cap
Not all analysts share Blockchainedbb’s measured optimism. Analyst Zach Humphries has expressed a more bullish outlook, asserting that SHIB remains on track to achieve a $100 billion market capitalization within the current market cycle. This prediction implies a significant price increase for SHIB, potentially reaching $0.0001697, translating to a roughly 916% increase from its current price.
Humphries’ forecast is not an isolated one. Analyst JAKE Gagain previously projected an even more ambitious target of $100 billion for SHIB, surpassing its rival Dogecoin in market valuation.
However, it’s worth noting that the cryptocurrency market is inherently unpredictable, and achieving such a high market cap would require a significant shift in investor sentiment and widespread adoption of SHIB.
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Concerns Regarding Exchange Capacity
The prospect of SHIB reaching a $100 billion market capitalization has also raised questions about the ability of cryptocurrency exchanges to handle the increased trading activity. While this is a valid concern, it’s worth noting that major exchanges have continuously upgraded their infrastructure to accommodate larger trading volumes.
Additionally, the possibility of SHIB reaching such a valuation is likely still far off, allowing exchanges ample time to prepare for a potential growth in trading activity.
While some analysts see potential in the meme coin, particularly for portfolio diversification, others remain skeptical of its long-term prospects. Ultimately, the decision of whether or not to invest in SHIB rests with the individual investor, who should weigh the potential risks and rewards before allocating any capital.
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. Times Tabloid is not responsible for any financial losses.
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