Markets
Here is the price of the Shiba Inu if it achieves the market cap of Bitcoin
The Shiba Inu price could see substantial growth if it captures the market capitalization of Bitcoin (BTC), the largest crypto asset.
The market hasn’t been entirely fair for Shiba Inu, with prices dropping after the latest gains. At its current price, SHIB is down 7.57% from the May 16 high of $0.00002588. Notably, this downward pressure has kept it below the yearly high of $0.000045 as sales continue to pile up.
SHIB faces massive sell-off
The Accumulation/Distribution indicator confirms this persistent liquidation campaign. This metric reached a daily high of 35.293 trillion SHIB on May 3, just before Shiba Inu hit a high of $0.00002632 the following day. The spike in the Accumulation/Distribution metric suggests that more investors are buying more SHIB than they are selling.
However, after reaching 35.293 billion Shiba Inu high, the measure continued to decline, currently standing at 16.707 trillion SHIB. This is the result of a strong wave of sell-offs, as market participants rush to dump their break-even tokens during the latest rally. The subsequent downward trend also impacted Shiba Inu’s market capitalization.
Shiba Inu price if it reaches Bitcoin market cap
SHIB now has a market capitalization of $14.08 billion, making it the 11th largest cryptocurrency on the market. The decline in valuation has led the Shiba Inu price to abandon its place among the top 10 assets. Meanwhile, Bitcoin, the largest crypto asset by market capitalization, currently boasts $1.31 trillion, or 92.7 times SHIB’s valuation.
Shiba Inu’s current market cap is due to its struggling price at $0.00002390. Market analysts predict that SHIB will reach more substantial highs in the foreseeable future. Some of these analysts to wait for Shiba Inu will reach a price of $0.00051. Meanwhile, last month, Lucie, content specialist, expressed his confidence in SHIB reaching the level of $0.01.
Most people who have expressed doubt about some of these price projections have cited SHIB’s circulating supply, which could skyrocket its market cap to unachievable heights at these prices. As a result, The Crypto Basic recently assessed what the price of Shiba Inu would realistically be if it captured the market cap of Bitcoin.
– Advertisement –
If Shiba Inu reaches a market valuation of $1.31 trillion, its price will rise to $0.002217, a massive gain of 9.287%. At this price, $1,000 invested in Shiba Inu would turn into $92,761. This demonstrates once again the scale of such a rally. There is little evidence that SHIB could capture even 10% of this valuation.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
-Advertisement-