Shiba Inu investors could see significant returns on their holdings, with projections suggesting an increase of up to 11,783% if the token’s market capitalization reaches the $1 trillion mark in the long term.
The cryptocurrency market has recently shown signs of recovery, with Shiba Inu benefiting from this trend. The token experienced a three-day drop of 5.69% between September 14 and 16, bringing its price down to the psychological level of $0.00001300. However, as the market bounced back, the token began to recoup these losses.
Shiba Inu (SHIB) Gaining Momentum
Following the recent recovery in the market, Shiba Inu has experienced four consecutive days of gains. The token’s price has risen nearly 3% in the past 24 hours, pushing it above the $0.000014 threshold. This uptick in price has led to renewed optimism among analysts and investors alike.
Despite the recent gains, Shiba Inu is still trading significantly lower than its all-time high of $0.00008845, which it reached during the crypto bull market in October 2021.
At its current price of $0.00001467, the digital asset is down approximately 83% from that peak. However, this has not discouraged investors, with some analysts forecasting that SHIB could surpass its previous highs in the next bullish cycle.
Projections vary among analysts, with some expecting Shiba Inu to reach $0.00015 in the coming months. Others are even more optimistic, predicting a price of $0.00045 if favorable market conditions persist.
Shiba Inu and the Possibility of a $1 Trillion Market Cap
The idea of Shiba Inu reaching a $1 trillion market capitalization has been floated by the project’s lead developer, Shytoshi Kusama. Kusama expressed confidence in the project’s long-term potential, suggesting that even a $0.00012 price target might be too conservative.
Achieving a $1 trillion market cap would require a significant surge in Shiba Inu’s price due to its current circulating supply of 589 trillion tokens. To reach this milestone, the price of SHIB would need to rise to $0.001697, effectively removing two zeros from its current price.
For context, Bitcoin is currently the only cryptocurrency to have crossed the $1 trillion market cap, a feat it first achieved in February 2021 when its price exceeded $56,000.
While some may view this goal as ambitious, Shiba Inu’s growing ecosystem and its committed community have continued to fuel speculation about its potential for long-term growth.
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Potential Returns on a $1,000 Investment
If Shiba Inu were to reach a $1 trillion market cap, the price increase would be substantial. Specifically, this would result in a price gain of approximately 11,467.8% from its current level. While this level of growth may seem difficult to achieve, Shiba Inu has maintained a strong level of accumulation among investors.
According to data from IntoTheBlock, the number of wallet addresses holding between $100 and $1,000 worth of Shiba Inu has steadily grown throughout the year. At the time of writing, 352,660 wallets hold between $100 and $1,000 worth of SHIB, marking an increase from 341,770 addresses at the beginning of the year.
For investors holding $1,000 worth of Shiba Inu at its current price of $0.00001467, this equates to roughly 68,166,325 tokens. If the price of SHIB rises to $0.001697 as projected under the $1 trillion market cap scenario, its value could rise to $115,678.
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.
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