The Shiba Inu ($SHIB ) community has been looking forward to reaching the one-cent milestone. However, certain investors and analysts seem to have bigger dreams for the meme coin.
Bitcoin analysts Yazan XBT and Jason Williams believe that SHIB can reach the 5-cent mark. At press time, SHIB was trading at $0.00001336, having risen 2.21% over the past 24 hours. This means the asset will need to rise by nearly 374,151.5% to hit the 5-cent mark.
Predictions And Possibilities For Shiba Inuâs Price Surge
Even though this seems far-fetched, history suggests otherwise. In less than a year following the 2020 Bitcoin halving, the price of Shiba Inu surged by 884,400%.
Hereâs When Shiba Inu Will Hit 5 Cents
Williams claims that if Bitcoin surged to $250,000, Shiba Inu might reach $0.05. Yazan, however, contended that if Bitcoin rises to the startling price of $777,000 this season, SHIB can get the $0.05 price point. Both experts confidently asserted that they believe SHIB will hit $0.05 during this market cycle of 2024â2025.
Market Capitalization And Realistic Expectations
But the real question is if this is possible. Williamsâ $250,000 price target for Bitcoin would translate into a $5.25 trillion market capitalization.
Yazanâs recommended price of $777,000 would still put Bitcoinâs market capitalization at about $16 trillion. For SHIB to reach the 5 cents mark with its current supply, the market value would surge to $29 trillionâmore than that of Bitcoin, which seems unrealistic.
According to data from Telegaon, Shiba Inu will reach this level only by 2040. Stay tuned for more info!
