Here is Shiba Inu Price if SHIB Captures 10% of Bitcoin Valuation

Shiba Inu price will hit unprecedented levels if SHIB captures just 10% of the current market cap of Bitcoin, the leading crypto.

With the broader crypto market witnessing a period of volatility and stifled growth, Shiba Inu price has failed to recover its yearly high above $0.000045. SHIB currently changes hands at $0.00002434, down 1.77% over the last 24 hours and 4.31% in the past month. At its current price, Shiba Inu has collapsed nearly 46% from the yearly peak.

Shiba Inu Price Targets

Despite the current turbulence, market watchers remain optimistic of an imminent price rally, suggesting that the second round of upswings in the ongoing bull market could take SHIB to unprecedented levels. However, some targets, including the $0.05 goal, have been dismissed as unfeasible.

One of the major obstacles to some of these ambitious targets is Shiba Inu’s extensive circulating supply. With 589 trillion tokens in circulation, Shiba Inu either needs to welcome a massive amount of demand or burn a large portion of its supply to clinch some of these targets.

Notably, if either or both of these actions do not occur, these audacious targets would translate to unrealistic market caps for SHIB. For instance, a $0.05 price would lead to a market valuation of $29.4 trillion for Shiba Inu, making it the world’s largest asset and surpassing the combined market cap of Gold, Microsoft, Apple, Nvidia, and Alphabet (Google).

SHIB Price if It Captures 10% of Bitcoin Market Cap

There is not enough money to sustain this sort of market cap for SHIB. Amid the speculation and uncertainty among market participants, The Crypto Basic assessed what Shiba Inu’s price would be at a more feasible market cap, specifically 10% of what Bitcoin currently boasts.

Market data confirms that Bitcoin, the largest crypto by market capitalization, currently has a valuation of $1.353 trillion, making it the ninth-largest asset in the world. Notably, 10% of this valuation translates to $135.4 billion, still significantly lower than Ethereum’s market cap, which currently stands at $461.1 billion.

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However, if Shiba Inu should claim such a market cap, its price per coin would record a substantial increase. Notably, if SHIB’s circulating supply remains fairly stable at 589 trillion tokens, a valuation of $135.4 billion will lead to a price of $0.0002298 for Shiba Inu. This represents an 844% increase from its current price.

It bears mentioning that such a target for Shiba Inu is completely feasible even in the current bull run, given its ability to stage massive runs. The Crypto Basic evaluated that SHIB could realistically hit $0.0002 if it follows a similar trajectory to the previous bull run. However, despite the feasibility, it remains uncertain if Shiba Inu can hit this price.