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Bitcoin Author Projects Incoming 193,774% Rally for Shiba Inu to $0.05

source-logo  thecryptobasic.com 05 June 2024 10:11, UTC

A prominent Bitcoin pundit has argued for an extraordinary rally that drives the price of Shiba Inu by 193,774% to $0.05.

In the last 24 hours, Shiba Inu has emerged among the top-performing assets, posting gains exceeding 8%. Previously, SHIB saw an intraday low of $0.00002365, but the emergence of the bulls has driven it to a new daily high of $0.00002592 at press time.

Shiba Inu’s gradual comeback has attracted optimistic market watchers who are revising their outlook in the burgeoning bull market. Bitcoin author Jason Williams is one such market watcher.

Shiba Inu to Surge 193,774% this Season

In a recent post on X, Williams boldly set a target of $0.05 for Shiba Inu in this ongoing bull cycle. This ambitious Shiba Inu projection aligns with his anticipated entry of Bitcoin to $336K between now and 2025.

My targets for this cycle:$BTC 336,000 $ETH $12,000 $SOL $6,200 $DOGE $40 $XRP $0.27$ADA $0.50$SHIB $0.05$AVAX $1,000$LINK $480$LTC $800$PEPE $0.40$HBAR $0.05$ICP $3$WIF $7.00

— Jason A. Williams (@GoingParabolic) June 4, 2024

At last check, Shiba Inu trades at $0.00002579. In the hypothetical scenario where Shiba Inu eliminates three zeros to trade at $0.05, it will have soared by an astonishing 193,774%.

What SHIB Trading at $0.05 Means

Essentially, Williams anticipates a 1,937-fold price growth for Shiba Inu by 2025. Notably, his projection for Bitcoin reaching $336K this cycle implies only a four-fold gain, putting BTC’s market cap at about $6.6 trillion. Other industry commentators have issued comparable targets for Bitcoin in this cycle.

Meanwhile, if Shiba Inu reached $0.05, its market cap would rise to $29.46 trillion, surpassing Bitcoin’s market cap by more than four times. This implies that Williams expects Shiba Inu to outrank Bitcoin in prominence this cycle, possibly without realizing it. This is highly speculative and unlikely.

Analytic Suggestion for When Shiba Inu May Reach $0.05

On the other hand, prediction platforms like Telegaon have speculated about when Shiba Inu might reach $0.05. In a report, Telegaon suggested that SHIB could have a minimum price of $0.054 by 2040, sixteen years from now. In parallel, they proposed a minimum price of $704,543 for Bitcoin by that time.

Assuming Bitcoin has a circulating supply of 20 million by 2040, its market cap would be $14 trillion. While this would still be below Shiba Inu’s hypothetical $29 trillion cap, SHIB’s enormous supply is expected to have diminished drastically over sixteen years.

Essentially, Shiba Inu’s market cap might not be $29 trillion by 2040 at a price of $0.05 due to its continuously diminishing supply, unlike Bitcoin’s fixed supply.

thecryptobasic.com