Two Bitcoin Analysts Call SHIB to Reach $0.05 If BTC Hits This Price #shiba⚡
In the 2024/2025 bull market, prominent Bitcoin analysts Yazan XBT and Jason Williams have predicted a substantial price surge for Shiba Inu (SHIB), setting an ambitious target of $0.05 per token.
Both analysts have shared their assessments on X (formerly Twitter), laying out the specific conditions under which Shiba Inu could achieve this price milestone.
Jason Williams asserts that Shiba Inu could reach the $0.05 mark if Bitcoin rises to $250,000 in the current market cycle. In contrast, Yazan XBT presents a more extreme scenario, suggesting that Shiba Inu could hit $0.05 only if Bitcoin’s price were to soar to an extraordinary $777,000.
Currently, Shiba Inu is trading at approximately $0.00001377, for the token to cancel out three of these zeros and reach $0.05, the token’s price would need to increase by a staggering 363,008%.
The significant scale of this projected price rally naturally raises questions regarding its feasibility. For a cryptocurrency like Shiba Inu, with an existing market capitalization exceeding $8 billion, such a dramatic increase in price and valuation would be nothing short of extraordinary.
Historical Performance Offers Some Precedent
While the projected increase may seem implausible at first glance, historical data offers some context that could make such a surge conceivable. Following the 2020 Bitcoin halving, Shiba Inu’s price experienced a meteoric rise, surging by 884,400% in less than a year.
Despite this precedent, many market analysts maintain a more cautious outlook for Shiba Inu’s price trajectory. The consensus among market watchers suggests that Shiba Inu might eliminate one zero from its current price, potentially trading around $0.0001 or slightly above, rather than reaching the ambitious $0.05 target.#DOGSONBINANCE #TON #CryptoMarketMoves #BinanceBlockchainWeek $SHIB
