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Shiba Inu (SHIB) has been on a rollercoaster ride lately, hitting $0.00002625 in the last 24 hours before settling at $0.00002578. Despite the dip, SHIB has surged 5.47% over the past day, drawing the attention of market analysts, including Bitcoin author Jason A. Williams (@GoingParabolic).
A Bold Prediction
Williams recently shared his optimistic outlook for several cryptocurrencies. Notably, he predicted that Shiba Inu could soar to $0.05 by the end of the current bull market cycle, potentially by the end of 2025. He also forecasted Bitcoin (BTC) reaching $336,000 in the same period, a projection that surpasses many current targets. Is $0.05 Realistic for Shiba Inu?
Achieving $0.05 would mark a staggering 193,848.7% increase for SHIB. Given its current circulating supply of 583.15 trillion tokens, this would push its market capitalization to an astronomical $29.15 trillion, eclipsing Bitcoin’s projected market cap by four times at Williams' anticipated price.
However, SHIB’s large supply compared to Bitcoin’s fixed 21 million coins adds complexity to this prediction. The Shiba Inu community is actively burning tokens to reduce supply, potentially aiding price increases.
While $0.05 is an ambitious target, the ongoing supply reduction could make it more attainable.