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Individuals who invest $1,000 in Shiba Inu dip at around $0.000017 could reap a 40X return should SHIB attain the market cap of Ethereum.
Shiba Inu remains under bearish pressure, hitting new lows for consecutive weeks. Amid the persistent market-wide decline, SHIB has reached a bottom of $0.0000173. This reflects a more than 34% collapse from the high of $0.00002627 it sold for earlier this month.
Presently, Shiba Inu has yet to recover from this drop, lingering around $0.00001766 with a market cap of approximately $10.36 billion.
While proponents anticipate a significant rebound soon, this assessment explores the return individuals buying Shiba Inu dip today stand to gain if SHIB attains the market cap of the altcoin market leader Ethereum.
Notably, Ethereum has not been spared in the ongoing market crash. Currently trading at $3,432, ETH has erased all gains from the past month. As a result, investors who entered the market this month are holding ETH at a loss of over 8%.
Despite this, ETH maintains a market cap of over $420 billion, which is comparable to the valuation of tech giant Mastercard.
Profit on $1,000 Shiba Inu Investment with ETH’s Cap
With Shiba Inu exchanging hands at $0.00001766 at press time, a $1,000 investment would amass a portfolio of 56,625,141 (56.6 million) SHIB tokens. In a scenario where Shiba Inu attains Ethereum’s $420 billion market cap, this investment would be worth nearly 40 times its current value.
Specifically, where SHIB retains most of its current circulating supply, a $420 billion market cap implies the asset has attained a phenomenal value of $0.0007127. To attain this price point, Shiba Inu must soar by approximately 3,936%.
Accordingly, $1,000 invested in Shiba Inu as of June 23 stands to be worth as much as $40,356 in the hypothetical scenario where SHIB reclaims Ethereum’s current market cap. While this is an enticing prospect worthy of targeting, it is not a guarantee.
How Long Before SHIB Hits $0.0007127
Notably, market analysts are optimistic about Shiba Inu’s potential to cancel another leading zero this cycle. Meanwhile, analysts at prediction portal Telegaon believe Shiba Inu may take up to six years to attain the $0.00071 price point.
This timeline aligns with an assessment by The Crypto Basic last month, which suggested that if SHIB maintains a consistent annual gain of 100%, it could reach $0.00071 in five years.