Shiba Inu's Potential: What if SHIB Captures 5% of Crypto Market Cap?

Jonathan Stoker Jan 30, 2024, 19:55pm 51 views

Shiba Inu's Potential: What if SHIB Captures 5% of Crypto Market Cap?

Shiba Inu's Market Performance and Future Prospects

Despite having a tumultuous year, Shiba InuShiba Inu$0.000010 -2.05% has been unable to eliminate a single zero from its value this year. To reach the ambitious price points predicted by its supporters, the meme-based cryptocurrency would need to rise by a staggering 1,000%. Achieving this massive leap would most likely rely on capturing a larger share of the global market. At present, Shiba Inu is not among the top 15 digital assets, holding a market capitalization of a relatively meagre $5.2 billion. This represents approximately 0.3% of the total $1.69 trillion market valuation for all digital assets.

Shiba Inu's Potential with a 5% Market Capture

If market enthusiasm enabled Shiba Inu to command just 5% of the overall cryptocurrency market cap, its capitalization would shoot up to $80 billion. Given the current number of SHIB tokens in circulation, this would theoretically drive the price per token to $0.000137. Such a price would indicate a breathtaking 1,416% leap from the current price of $0.000009. Suddenly, the record high of $0.000088 from October 2021 appears within reach for believers in the coin's potential.

Impacts of a 1-2% Market Share and Future Challenges

Securing even 1-2% of the broader cryptocurrency market could have a comparable dramatic effect on Shiba Inu's exchange rates. This would place it alongside other leading coins. However, many obstacles and uncertainties remain that could hinder the journey from its current value to future success. The number of tokens in circulation would need to significantly decrease through burns, without triggering a corresponding selling pressure. As the fundamentals of Shiba Inu have remained largely unchanged since last year's peak and subsequent decline, anticipating another rapid increase calls for a great deal of faith and patience.

Edited by Jonathan Stoker

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