thecryptobasic.com
Shiba Inu ($SHIB) could move closer to its previous all-time high (ATH) if it maintains its dominance at a $10 trillion total crypto market capitalization.
The prices of various crypto assets, including Shiba Inu ($SHIB), plunged heavily on October 25 following reports that the U.S. government is investigating USDT stablecoin issuer Tether over potential violation of anti-money laundering rules.
The total crypto market was down 2.09% in 24 hours to $2.27 trillion at press time. Interestingly, Shiba Inu also witnessed a similar decline in the same timeframe. The leading canine-themed token boasts a market cap of $9.95 billion, reflecting a dip of 2.23% over the past day.
Global Crypto Market Cap Projections
While the global crypto market cap is currently around $2.27 trillion, there are speculations that it will hit unprecedented levels in the future.
In particular, Ripple CEO Brad Garlinghouse forecasted that the global market valuation could hit $5 trillion by 2024 ending. Meanwhile, several market observers expect the total crypto market cap to reach loftier targets like $10 trillion before the 2024/2025 market cycle ends.
Shiba Inu’s Price At $10 Trillion Global Market Cap
If this $10 trillion projection becomes a reality, the prices of various crypto assets, like $SHIB, could surge to unprecedented levels based on their market dominance.
For context, Shiba Inu’s valuation is currently at $9.95 billion, and the asset has a market dominance of approximately 0.44%.
Should Shiba Inu maintain this 0.44% dominance when the global crypto market cap reaches $10 trillion, $SHIB’s valuation could spike to $44 billion. This represents an increase of 342.21% from the current market cap of $9.95 billion.
At a $44 billion valuation, Shiba Inu would trade at $0.00007466 per token, assuming $SHIB’s circulating supply of 589.26 trillion tokens remains fairly stable. This is still below Shiba Inu’s previous all-time high record of $0.00008616, registered on October 28, 2021.
Potential ROI
Nonetheless, investors who acquire Shiba Inu tokens at the current price of $0.00001689 would make a substantial profit of 342.21% on their investments if $SHIB reaches a valuation of $44 billion.
For instance, an investment of $1,000 in Shiba Inu today would rise to $4,422 if $SHIB eventually captures the $44 billion market cap.
Shiba Inu’s Potential Surge to $0.00007
Meanwhile, several analysts have projected that Shiba Inu will soon surge to the $0.00007 price mark. Analyst Alan Santana speculated that it would rise to the $0.00007 price level in early 2025.
Earlier this month, pseudonymous TradingView analyst Without_Worries leveraged key technical indicators to forecast a potential rally of 400% for Shiba Inu. According to the analyst, this surge could take $SHIB’s price to around $0.000074.
Regardless of how enticing these predictions may seem, it is important to exercise caution when investing in cryptocurrencies, including Shiba Inu.