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Popular market commentator Oscar Ramos has insisted that Shiba Inu will attain a $100 billion market cap, potentially flipping Dogecoin.
Shiba Inu has featured extensively in the broader market bullish uptick seen in the past seven days. For context, the second-largest meme coin by market cap has surged 16% in the past 24 hours and a staggering 53% in the past week, outperforming nearly all the assets in the top ten crypto ranking.
Shiba Inu’s exponential uptick has seen it attain a valuation of $15.3 billion, moving two places in the crypto ranking by market cap. It flipped Tron and Toncoin to enter the top ten ranking amid growing bullish momentum.
Following the price explosion over the weekend, notable market commentators have thrown in their thoughts on Shiba Inu’s next price action. Among them is famous market pundit Oscar Ramos, who predicts a three-figure billion-dollar valuation for the leading meme coin.
Pundit Says $100B Shiba Inu Valuation Is Certain
In a November 10 X update, Ramos asserts that Shiba Inu will attain a market cap of $100 billion. According to him, Shiba Inu’s explosive upward trajectory over the weekend confirms his assertion.
Notably, the market cap expectation is about 165% of Shiba Inu’s peak market cap of $37.81 billion, which the meme coin attained in October 2021. Also, the token’s market cap would grow a staggering 554% from its current $15.3 billion valuation to attain Ramos’s $100 billion cap assertion.
Meanwhile, a $100 billion market cap would take Shiba Inu up past high-caliber assets like XRP, Dogecoin, Binance Coin (BNB), and Solana to become the fourth most valuable crypto asset. Notably, this would only happen if it attains Ramos’s predicted cap while others remain at their current market cap.
Shiba Inu’s Price When It Surges to $100B Market Cap
Notably, a Shiba Inu $100 billion market cap would tremendously boost its price. At the current circulating supply of 589T SHIB, the leading meme coin would be worth $0.0001697 if it attains the said market cap.
Meanwhile, SHIB trades at $0.00002593 at press time, about 70% away from its all-time high of $0.00008845. A surge past its peak price of $0.0001697 would mean the token would surge by an impressive 555% from its current market price.
Interestingly, price appreciation of this nature is not uncommon for the second-largest meme coin by market cap. For instance, SHIB surged 379% ten days earlier in the year to reach its yearly high of $0.00003568.
Furthermore, other analysts have earlier argued that Shiba Inu would reach a $100 billion valuation. Market expert Jake Gargain stated that the token would hit the valuation, promising to delete his X account if it fails to do so.
Another analysis also highlighted that SHIB would hit the glorified $100 billion market. The Crypto Basic report, citing the Coin Perspective, shows that the meme coin will enter the $100 billion club in the near term.