One market commentator predicts that the value of the Shiba Inu could soar by 950% if the global crypto market cap hits $10 trillion.
Crypto bull market gains momentum as Bitcoin continues to set new all-time highs. Over the past five days, new record highs have been recorded every day, fueling the rise of altcoins like Shiba Inu.
Over the past 24 hours, the global crypto market cap reached $2.62 trillion, up 4.6%, meaning $120.8 billion in new capital entered the market. This surge coincided with Bitcoin’s new high 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 Expected to Reach $10 Trillion
With the global crypto market cap now above $2.61 trillion, leading analysts are making bold predictions about the future of the market and the potential of top altcoins like Shiba Inu.
Market commentator HorBull, in a job on According to him, a global crypto cap of $10 trillion is achievable during this bull cycle.
Notably, a market cap of $10 trillion would likely result in Bitcoin valuing around $5 trillion, as it typically represents more than 50% of the total market. In this scenario, The price of Bitcoin would likely approach $250,000.
Meanwhile, this optimistic scenario will give the altcoin market a valuation of $5 trillion. As a reminder, the altcoin market is currently worth around $1.2 trillion. This suggests that HorBull expects around $3.8 trillion to flow into the altcoin market over the next year as the bull cycle progresses. With these ambitious prospects, he highlighted the price potential of the Shiba Inu.
Shiba Inu Price With Global Crypto Cap Of $10 Trillion
According to HorBull, Shiba Inu could reach a price of $0.0002 in the case of a global market cap of $10 trillion, which would mean that Shiba Inu would “remove a leading zero” from its current price. At its current price of $0.00001903, Shiba Inu has a market capitalization of $11.21 billion.
A price of $0.0002 would raise Shiba Inu’s market cap to approximately $118 billion. Many market experts, including Jake Gagain, have argued that Shiba Inu could surpass $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 almost 10 times its current value.
Other market observers agree that Shiba Inu could reach $0.0002 by next year, given its explosive potential. Some have even suggested that it could exceed this level during this bull cycle.
Shiba Inu demonstrated this potential earlier this year when it soared 370% in less than two weeks during the first quarter.
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