Shiba Inu Lead Dev Co-Signs Prediction That Would Send SHIB To $100 Billion
March 06 2024 - 6:05PM
NEWSBTC
Shiba Inu saw a massive rally over the past month, going from below
$0.00001 to above $0.00004, just 50% below its all-time high price.
This has strengthened bullish resolve among investors in SHIB as
crypto analysts continue to call for higher prices, one of which
has been co-signed by Shiba Inu lead developer Shytoshi Kusama.
Shiba Inu Market Cap Headed For $100 Billion In a post on X
(formerly Twitter), crypto analyst Jake Gagain made a very bullish
prediction for the Shiba Inu price. According to him, the meme coin
could see its market cap rise as high as $100 billion in the bull
market. “$SHIB Will Reach 100 Billion This Cycle,” the post read.
Related Reading: Institutions Can’t Get Enough Of Crypto As Trading
Volumes Hit New $30 Billion Record This prediction caught the
attention of Shiba Inu’s lead developer, Shytoshi Kusama, who took
to the social media platform to lend his support. The quote
response featured a GIF which said, “Your words, not mine,”
something that is often used to support a statement by another
person. https://t.co/aUePEauoUo pic.twitter.com/vp0gk4FDtv —
Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024 Gagain’s
prediction is interesting because it would mean that the market cap
of SHIB would be three times higher than what it was during its
last all-time high. If it does come to fruition, then the SHIB
price at this high market cap would see it climb above $0.0002.
Reaching this price point would mean that the price of SHIB would
have to climb another 500% from its current value of $0.000037.
SHIB At $0.0001 Is Possible Gagain is not the only crypto analyst
who sees the price of Shiba Inu eventually crossing the $0.0001
level. Another analyst, Oscar Ramos, recently shared their own
bullish prediction for the SHIB price, which he believes would
cross $0.0001. Related Reading: Analyst Predicts Massive Rally For
Dogecoin Price With A $1 Target, Here’s How As Ramos explains, some
of the facts that will drive this rally will be retail investors as
they flock back into the market. This influx of funds, the analyst
explains, could send the SHIB price above $0.0001. Additionally,
Ramos points to the previous performance of SHIB as evidence of how
much the price can grow in a short time. For Ramos, SHIB at $0.0001
is a certainty this cycle. However, despite being bullish on the
Shiba Inu price, the crypto analyst also reeled in unrealistic
expectations for the price. He explains that the meme coin rising
to $0.1 or even $1 is not possible in this bull market. For now,
the cryptocurrency has to focus on reaching a $60 billion market
cap, which would help it cross $0.0001. As for when to sell, the
analyst cautions that investors should be looking to exit their
position at around the $0.0002 mark, as this could mark the peak.
SHIB price drops alongside BTC | Source: SHIBUSD on Tradingview.com
Featured image from MEXC Blog, chart from Tradingview.com
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