The popular meme coin Shiba Inu (SHIB) is back in the news after a crypto expert made a bold prediction that its market cap will grow 10 times.
Zach Humphries outlined several promising variables that could drive SHIB's market cap to $100 billion, bringing its price to $0.000171 — an increase of 890% from current levels.
Humphries is known for his observations in the meme coin market, and he believes the surge of SHIB is a real possibility, despite its current low price.
In his recent research, Humphries focused on the factors he considers to be the fundamental assets of SHIB. These include its brand strength, loyal community, and the potential returns for retail investors who may be willing to take risks in the meme coin space again.
If the price level of $SHIB is 10 times the current price level, we would see the asset's market cap exceed $100 billion.
Here are some reasons why it might happen 🧵
Brand strength and community support
Humphries believes that SHIB's excellent brand recognition greatly contributes to its appeal. Shiba Inu has gained fame in the meme coin space, largely thanks to its enthusiastic community.
Even after the rebound weakened in 2021, SHIB supporters remained engaged, helping the organization maintain relevance in a competitive industry. Humphries claims that this brand strength, combined with SHIB's established position in the meme token market, gives it an advantage that fresher tokens lack.
Humphries also pointed out that for many first-time investors, well-known tokens like Shiba Inu seem like a safer choice in the tumultuous cryptocurrency world. As demand increases, especially if the broader cryptocurrency market turns positive, SHIB's price and reputation could soar. According to Humphries, this influx of new investment could be the reason SHIB achieves its $100 billion goal.
Another analyst predicts a 200% growth
Analysts 'World Of Charts' provided technical predictions together with Humphries. They observed that SHIB was showing new breakouts, indicating a 200% growth, which could bring it closer to annual highs. SHIB rebounded to $0.00001784, filling traders with hope for future gains.
$Shib #Shib has so far run up 50% profit, and is now approaching another descending expanding wedge, hoping to double again in the event of a successful breakout.
World Of Charts now believes that SHIB breaking through a key resistance trend line is another catalyst for further growth. If the breakout is sustained, this technical setup with a descending expanding wedge pattern could cause SHIB to jump again.
Can the Shiba Inu hit the target?
Humphries and World Of Charts paint a bright picture, but it also presents future challenges. A market cap of $100 billion is overly ambitious, especially for a meme coin, which requires sustained and continuous growth to achieve this goal.
