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.