If Shiba Inu reaches the market cap of Bitcoin, how high can SHIB go?
Shiba Inu (SHIB) is experiencing a small rebound after Bitcoin (BTC) recaptured the $60,000 price level. SHIB is up 1.1% on the daily chart and 0.8% from the previous week.
Shiba Inu (SHIB) is experiencing a small rebound after Bitcoin (BTC) recaptured the $60,000 price level. SHIB is up 1.1% on the daily chart and 0.8% from the previous week.
The latest market rebound came after the release of US inflation data. The cooling of US inflation seems to be more than analysts expected.
The cooling of inflation data may have rekindled investors' hopes for a rate cut this year. Many expect the Federal Reserve to cut interest rates in September, but the central bank has not yet made an official statement.
Bitcoin (BTC) currently has a market cap of $1.2 trillion. On the other hand, there are currently 589 trillion Shiba Inu (SHIB) tokens in circulation. If SHIB’s market cap equals Bitcoin’s, the price per SHIB token would be $0.0020 (market cap divided by the number of tokens in circulation).
If SHIB reaches $0.0020, it would be a new high for the token. This uptick would also translate into a growth of over 14,400%.
According to Changelly, the price of Shiba Inu (SHIB) could reach the $0.002 mark in nine years’ time, sometime between 2033 and 2040.
