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Shiba Inu investors could see their holdings skyrocket by as much as 11,783% in the long term if SHIB’s market cap rises to clinch the $1 trillion threshold.
The crypto market is currently showing signs of a rebound, and Shiba Inu has leveraged this trend to recover some lost values. For context, SHIB previously witnessed a three-day loss of 5.69% from Sept. 14 to 16, culminating in a drop to the psychological support at $0.00001300.
SHIB Sees Renewal of Optimism
However, as the market recovered, Shiba Inu has since recorded four consecutive days of gains. Within this period, the dog-themed token has appreciated by nearly 9%, eventually reclaiming the $0.000014 territory. Amid the rebound, bullish sentiments and analyses have resurfaced.
Despite the ongoing upward momentum, Shiba Inu’s current price at $0.00001428 means the token is down 83% from its all-time high price of $0.00008845, attained during the previous bull run in October 2021.
Nonetheless, this current position has not dampened optimism in Shiba Inu. Some analysts expect SHIB to eventually breach the $0.00008845 peak, with protections pointing to a possible $0.00015 price. Interestingly, others expect more substantial surges towards $0.00045.
Shiba Inu at a $1T Market Cap
Notably, Shiba Inu lead developer Shytoshi Kusama believes even the $0.00012 is an underestimate for SHIB. In July, Kusama confirmed that the ecosystem team’s goal is to push Shiba Inu into becoming the first-ever trillion-dollar decentralized entity.
Attaining a market cap of $1 trillion would skyrocket Shiba Inu’s price to substantial heights. For context, Bitcoin is the only cryptocurrency with a market cap exceeding $1 trillion. The premier crypto asset first attained the $1 trillion feat in February 2021, when its price surges past $56K, hitting the then all-time high.
For Shiba Inu to reach this level, its price would need to surge by a more significant margin due to its current price position and its circulating supply. SHIB currently has a supply of 589 trillion tokens. To attain a $1 trillion market cap with this supply, Shiba Inu must surge to $0.001697, erasing two leading zeros.
Returns on $1,000 if Shiba Inu Hits $1T Valuation
This value would mark a massive 11,783% increase from Shiba Inu’s current price. Interestingly, while most investors believe this spike is unfeasible, Shiba Inu accumulation remains on the high side.
For instance, IntoTheBlock data shows that addresses holding between $100 and $1,000 worth of SHIB had grown to 352,660 at press time. This represents an increase of 10,890 new wallets, compared to the 341,770 figure from the start of the year.
Notably, investors with $1,000 worth of Shiba Inu are currently holding 70,028,011 tokens at the prevailing price. If Shiba Inu attains a $1 trillion market cap by its price surging to $0.001697, the worth of these 70,028,011 tokens would increase to $118,837.