Industry expert envisions Shiba Inu reaching $1 billion market cap

Casey Stubbs, founder of Trading Strategy Guides, presents an optimistic view of the Shiba Inu’s potential, projecting a $1 trillion market cap for SHIB and BONE.

In an X article yesterday, Stubbs said he envisions a day when Shiba Inu’s Layer 2 Shibarium blockchain sees widespread adoption. He envisions a future where thousands of Shiba Inu (SHIB) and Bone ShibaSwap (BONE) pairs will be actively traded on “Shibarium,” with 24-hour volume worth billions of dollars.

Through this hypothetical scenario, Stubbs predicts that SHIB and BONE could reach a market cap of $1 trillion. He made the projection while reacting to an X post from Shibarium’s Discord and Telegram moderator SpecialK.

According to the post, SpecialK characterized Shibarium as the backbone of Shiba Inu, predicting that the L2 network could redefine standards within the crypto space. Additionally, he urged investors to prepare for a transformative journey that will elevate Shiba Inu to unprecedented levels of innovation and impact.

Shibarium adoption rate

Although Stubbs and SpecialK see an optimistic future for Shibarium, the network’s adoption rate has declined significantly in recent times. Since this month, the network has been average daily transactions less than 10,000.

This contrasts sharply with the figures recorded in December 2023, when statistics had jumped between 5 million and 7.5 million.

Therefore, Shibarium has treaty just 17.72 million transactions since March 7, 2024. Despite its low adoption rate, Stubbs and SpecialK are optimistic that the network will see a significant turnaround.

SHIB and BONE price if they reach $1 trillion market cap

This could have a positive impact on the prices of tokens in the Shiba Inu ecosystem, including SHIB and BONE. At the moment, both tokens are far from reaching the $1 trillion market cap envisioned by Stubb.

While SHIB has a market capitalization of $11.94 billion, BONE has a valuation of $123.34 million. Their price is $0.0000 and $0.53 respectively.

A trillion-dollar market for SHIB could bring its price to $0.016 per token if the circulating supply of 589.27 trillion remains constant. Similarly, BONE could be worth $4,349 per token if its market cap reaches $1 trillion.

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.

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