Here’s the expected price for Shiba Inu if BTC hits $13 million
Shiba Inu stock could rise to new heights if Bitcoin soars to the $13 million price target set by MicroStrategy Chairman Michael Saylor.
Given Bitcoin’s position as the largest cryptocurrency and its 56.8% market dominance, Bitcoin’s market conditions have been affecting the broader market.
Data from CoinMarketCap confirms that Shiba Inu has been following Bitcoin’s movements over the past month. While this trend can be worrisome during Bitcoin crashes, it also pushes SHIB to higher levels whenever the first cryptocurrency records a price surge.
At the time of reporting, Bitcoin is trading at $63,624, up 10% over the past week. For the leading crypto asset to reach its ambitious $13 million price target, it would need to appreciate by 21,611% from current levels.
If Shiba Inu continues to follow in Bitcoin’s footsteps, it could replicate a similar uptick. Notably, SHIB is currently trading at $0.00001521, having gained 12.4% over the past seven days. If Shiba Inu were to rise by a similar 21,611%, its price would soar to $0.002954, essentially removing two leading zeros.
If the price rises, investors holding Shiba Inu would see significant gains. For example, investing $1,000 in Shiba Inu tokens would net 73,475,385 tokens at current value. Nonetheless, if SHIB were to rise 21,611% alongside Bitcoin, these $1,000 SHIB holdings would soar to $217,046.
Despite the potential gains from this rally, caution is warranted when considering this prediction. It is worth noting that it remains to be seen whether Bitcoin can reach its $13 million target. Furthermore, it is uncertain how SHIB would respond to a BTC price surge if that were to happen.
