Cryptocurrency

Analyst Says Shiba Inu (SHIB) Will Hit $100 Billion Market Cap. Here’s why

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.

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.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

5 Profitable Cryptos to Watch for Big Rewards This Year

The blockchain landscape has evolved tremendously over the past few years, with many projects seeking…

2 hours ago

Beyond the Basics: Plus Wallet’s Revolutionary Approach to Storing Bitcoin, Ethereum, Binance And More Crypto Storage

In the expanding universe of cryptocurrency, the tools that enhance ease of use and security…

4 hours ago

Why Wait? Access New Tokens in 15 Minutes with Plus Wallet—Here’s How!

As we navigate through 2024, the array of crypto wallets expands, but Plus Wallet has…

5 hours ago

Top Exchange Sparks Discussion On “XRP Unleashed” Documentary

In a recent tweet, Bitrue, one of the leading cryptocurrency exchanges, sparked a discussion regarding…

6 hours ago

Qubetics in the Spotlight: The Documentary That Could Redefine the Future of Blockchain

On October 21, a documentary featuring some of the most influential names in the crypto…

9 hours ago

Bitcoin Holder Awakens After 11 Years of Inactivity, Makes Whale-Sized Investment in Rexas Finance (RXS) Following CoinMarketCap Listing Announcement

In a tale where things were unexpected, excitement-filled news was about a wallet that kept…

13 hours ago