Analyzing Shiba Inu’s Potential to Match Bitcoin’s $1.31 Trillion Cap

Bitcoin's Impact on Shiba Inu (SHIB): Why It's Down 15%

The cryptocurrency market has been abuzz with speculation around Shiba Inu (SHIB) and its potential to reach new heights. Analysts have now revealed that if SHIB were to capture the market cap of Bitcoin (BTC), the leading cryptocurrency, it could see a staggering price surge.

Persistent Selloffs Weigh on SHIB

Despite its recent gains, the Shiba Inu price has faced significant downward pressure, declining by 7.57% from its May 16 high of $0.00002588. This downturn can be attributed to a surge in selloffs, as indicated by the Accumulation/Distribution indicator. The metric, which tracks the flow of SHIB tokens, peaked at 35.293 trillion on May 3 before declining to its current level of 19.244 trillion, suggesting that more investors are now selling than buying.

Shiba Inu Accumulation Distribution Metric

SHIB Loses Top 10 Position

The persistent selloffs have taken a toll on Shiba Inu’s market capitalization, causing it to relinquish its spot among the top 10 cryptocurrencies. SHIB’s current market cap stands at $14.08 billion, making it the 11th largest cryptocurrency. In contrast, Bitcoin, the industry’s leading asset, boasts a market cap of $1.31 trillion, which is 92.7 times larger than SHIB’s valuation.

Capturing Bitcoin’s Market Cap: A Colossal Opportunity

Analysts have projected that Shiba Inu could soar to more substantial heights in the future, with some even suggesting a price target of $0.00051. Additionally, there have been predictions of SHIB reaching the $0.01 level. However, these projections have faced skepticism due to the coin’s significant circulating supply, which could make such prices unrealistic.

To address this concern, The Crypto Basic has assessed what Shiba Inu’s price could realistically be if it were to capture Bitcoin’s market cap. The analysis reveals that if SHIB were to command a market valuation of $1.31 trillion, its price would surge to an astounding $0.002217, representing a massive 9,287% gain. This would mean that a $1,000 investment in SHIB at this price would transform into a staggering $92,761.

Nonetheless, experts caution that there is little evidence to suggest that SHIB could even capture 10% of Bitcoin’s market cap, underscoring the magnitude of the potential rally.

Read Also: Shiba Inu’s BONE Listed as New Payment Option on Precipitate.AI

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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