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A market commentator predicts that the value of Shiba Inu could soar by 950% if the global crypto market cap hits $10 trillion.
The crypto bull market is gaining momentum as Bitcoin continues to set new all-time highs. For the past five days, fresh records have been made every day, fueling the rise of altcoins like Shiba Inu.
In the last 24 hours, the global crypto market cap reached $2.62 trillion, up 4.6%, meaning $120.8 billion in fresh capital entered the market. This surge coincided with Bitcoin’s new peak at $77,200 last night.
While Bitcoin has largely dominated the spotlight in this bull market, altcoins like Shiba Inu are gradually catching up. Shiba Inu hit an intraday high of $0.00001931, marking an 8% gain over the past week.
Crypto Market Projected to Hit $10 Trillion
With the global crypto market cap now above $2.61 trillion, notable analysts are issuing bold predictions about the future of the market and the potential for top altcoins like Shiba Inu.
Market commentator HorBull, in a post on X, emphasized that the crypto market has a long way to go before reaching his projected $10 trillion market cap. According to him, a $10 trillion global crypto cap is attainable during this bull cycle.
Notably, a market cap of $10 trillion would likely see Bitcoin’s valuation at around $5 trillion, as it typically commands over 50% of the total market. In this scenario, Bitcoin’s price would likely approach $250,000.
Meanwhile, this optimistic scenario will give the altcoin market a $5 trillion valuation. For context, the altcoin market is currently worth around $1.2 trillion. This suggests HorBull expects about $3.8 trillion to flow into the altcoin market over the next year as the bull cycle progresses. With this ambitious outlook, he highlighted the potential for Shiba Inu’s price.
Shiba Inu Price with a Global Crypto Cap of $10 Trillion
According to HorBull, Shiba Inu could reach a price of $0.0002 in the event of a $10 trillion global market cap, which would mean Shiba Inu would “remove a leading zero” from its current price. At its current price of $0.00001903, Shiba Inu has a market cap of $11.21 billion.
A price of $0.0002 would elevate Shiba Inu’s market cap to approximately $118 billion. Many market experts, including Jake Gagain, have argued that Shiba Inu could surpass the $100 billion market cap during this cycle.
Notably, for Shiba Inu to reach a price of $0.0002 from its current price, the asset would need to increase by 950%, or nearly 10x its current value.
Other market watchers agree that Shiba Inu could hit $0.0002 by next year, given its explosive potential. Some have even suggested it could surpass that level during this bull cycle.
Shiba Inu demonstrated this potential earlier this year when it soared by 370% in under two weeks during the first quarter.