Shiba Inu Could Explode 5,000%
The crypto space is full of exciting events and unexpected surprises. Currently, one of the most intriguing theories involves the meme-coin Shiba Inu (SHIB).
If SHIB maintains its strong correlation with Bitcoin, it could experience a 5,000% increase in value. But how much of this scenario is feasible, considering VanEckâs recent Bitcoin predictions?
VanEck, known for its Bitcoin ETFs and $108 billion in assets under management, recently released a very optimistic forecast.
The firm projects that Bitcoin could reach a market cap of $61 trillion by 2050.
This estimate assumes that Bitcoin will process 10% of international payment transactions and that central banks will hold 2.5% of their assets in BTC. In this context, the price of one Bitcoin could reach a staggering $2.9 million.
One of the most notable characteristics of Shiba Inu is its high price correlation with Bitcoin. According to data from IntoTheBlock, Shiba Inu has shown an 85% correlation with Bitcoin over the past 30 days. If Bitcoin does indeed achieve the 5,600% increase predicted by VanEck, SHIB could rise by the same amount.
Source: IntoTheBlock