u.today
Shiba Inu lead Shytoshi Kusama recently acknowledged a bold prediction about the digital currency's market value.
Kusama reposted a statement arguing that the second-largest meme coin could reach a $100 billion market cap this cycle.
The post was shared alongside a GIF showing Robert Picardo from "Family Business" with the words "YOUR WORDS, NOT MINE" displayed.
Shiba Inu's current market position
Shiba Inu has been on a rollercoaster ride over the past week, gaining more than 200% and vastly outperforming other major cryptocurrencies.
According to the latest data from IntoTheBlock, SHIB's current price stands at $0.000035, experiencing a 5.84% increase over the past 24 hours.
Impressively, 73% of SHIB holders are making money at the current price, with a large holder concentration also at 73%. SHIB has maintained a strong price correlation with Bitcoin at 0.79.
Holders' composition by time held shows a committed base, with 77% holding for over a year.
The path to $100 billion
Currently, only three cryptocurrencies boast a market capitalization exceeding $100 billion—Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
With SHIB currently valued at $15.3 billion, it sits as the 11th largest cryptocurrency, behind rivals such as Cardano (ADA) and Dogecoin (DOGE).
For SHIB to reach the illustrious $100 billion mark, it would have to record a monumental increase in value.
Specifically, it would need to appreciate by approximately 553%, a feat that would require substantial market demand and investor confidence to be achieved.