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Shiba Inu could witness a massive 796% spike in its price if its market cap grew from the current figure to claim the $100 billion mark.
The broader crypto market is on a recovery charge that saw Bitcoin (BTC), the industry’s firstborn, claim a new all-time peak above $76,000. While altcoins such as Shiba Inu have joined in this rebound campaign, they remain below their highs from the previous cycle.
SHIB Remains Below ATH
For instance, SHIB reached an all-time high of $0.00008845 during the last bull market in 2021. However, it has not decisively come close to reclaiming this level in the ongoing bull cycle, much less surpassing it.
Shiba Inu’s peak for this bull run is $0.00004567, a level it attained in early March. Since dropping from this price point, the meme coin sensation has failed to recover it. Most analysts believe a reclamation of this local top could prepare the groundwork for a greater push toward the ATH at $0.00008845.
However, despite its current price of 366%, which is away from the $0.00008845 peak, analysts and investors remain confident in Shiba Inu’s potential. As a result, multiple bullish predictions have engulfed the Shiba Inu community.
Price of 1 Shiba Inu at a $100B Market Cap
While some expect rallies to $0.000081 during this cycle, others have made more ambitious projections. Notably, some analysts like Jake Gagain expect Shiba Inu to eventually reach a $100 billion market cap, positioning it as the first meme coin to achieve this feat.
For context, Shiba Inu’s all-time high market cap is $39 billion, a valuation it claimed during the 2021 bull run. At press time, Shiba Inu has a market cap of $11.2 billion, making it the 12th-largest cryptocurrency and the second-largest meme coin.
Despite projections of a potential rise in valuation to $100 billion, many remain oblivious to the price implications of this market cap. Consequently, we employed the services of a market resource, The Coin Perspective, to highlight what price SHIB would trade at the $100 billion valuation mark.
Data from the platform confirms that at a $100 billion market cap, Shiba Inu’s price will have reached $0.00017. This potential price level would mark a massive 796% increase from the current price.
Interestingly, during the initial run this year, SHIB secured an impressive 379% rally from Feb. 24 to March 5, spiking from $0.00000952 to $0.00004568. The meme coin’s ability to secure such an upward push in less than ten days confirmed its potential.
As a result, some believe Shiba Inu can engineer a more substantial rally, especially when the altcoin season comes. Currently trading for $0.00001897, if Shiba Inu secures an 800% rise from this level, its price would rise to $0.00001707, taking it to the $100 billion market cap.