Prominent crypto exchange CoinW has sparked conversation in the crypto community with a daring projection for Shiba Inu. In a recent post, CoinW asked community members to weigh in on which of several bold predictions for top cryptocurrencies could happen first.
The poll included predictions for Bitcoin reaching $100,000, Ethereum reaching $10,000, and Shiba Inu reaching $1. Other prominent cryptocurrencies, such as BNB, Solana, XRP, Cardano, Dogecoin, and Avalanche, were also included. CoinW asked the community to consider which of the following events would occur first:
– Shiba Inu reaching $1, – BNB reaching $1,000, – Cardano reaching $5, – XRP reaching $1, – Solana reaching $250, – Avalanche reaching $100, – Dogecoin reaching $1
The Ambitious Target for Shiba Inu (SHIB)
The figure suggested for Shiba Inu is the most ambitious, requiring a 7,639,320% increase from its current price of $0.00001309. This would mean clearing all decimal places and trading in unit value. In comparison, Bitcoin would need to rally by 70% to reach $100,000, while Ethereum would need to surge by 286% to reach $10,000.
Feasibility and Historical Context
The feasibility of Shiba Inu reaching $1 is questionable, given the current market cap implications. However, Shiba Inu has seen significant growth in the past, with a 150,000,000% increase from its all-time low to its peak value. Early adopters who held on until its peak became immensely wealthy, with one investor making over $5 billion from an $8,000 investment.
Prediction portals like Telegaon believe that $1 is possible for Shiba Inu, but only in about three decades. This highlights the long-term nature of such a prediction and the uncertainty surrounding it.
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Community Reaction
The crypto community has been reacting to the prediction, with some expressing skepticism and others optimism. If Shiba Inu were to reach $1, its market cap would be over $580 trillion, making it one of the largest assets in the world. This raises questions about the feasibility of such a scenario, given the current market conditions and the competition among cryptocurrencies.
CoinW’s prediction of Shiba Inu reaching $1 is a bold one, requiring a significant increase. While some see it as a possibility, others believe it is highly unlikely. The community’s reaction and the market implications highlight the uncertainty surrounding such a prediction.
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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