Shiba Inu (SHIB) could move closer to its previous all-time high (ATH) if it maintains its dominance with a total market cap of $10 trillion.
Prices of various crypto assets, including Shiba Inu (SHIB), fell sharply on October 25 following reports that the US government was investigating stablecoin issuer USDT Tether for potential violations of anti-money laundering rules. money.
The total crypto market was down 2.09% in 24 hours to $2.27 trillion at press time. Interestingly, Shiba Inu also experienced a similar decline during the same period. The leading dog-themed token boasts a market capitalization of $9.95 billion, reflecting a 2.23% decline over the past day.
Projections of the global market capitalization of cryptocurrencies
While the global crypto market capitalization currently stands at around $2.27 trillion, speculation indicates that it will reach unprecedented levels in the future.
Notably, Ripple CEO Brad Garlinghouse predicted that the global market valuation could reach $5 trillion by 2024. At the same time, several market observers expect the total market capitalization of crypto hits higher targets, like $10 trillion, before the end of the 2024/2025 market cycle.
Shiba Inu Price at $10 Trillion Global Market Cap
If this $10 trillion projection becomes reality, the prices of various crypto assets, like SHIB, could reach unprecedented levels due to their market dominance.
As a reminder, Shiba Inu’s valuation is currently $9.95 billion and the asset leads the market by around 0.44%.
If Shiba Inu maintains this 0.44% dominance when the global crypto market cap hits $10 trillion, SHIB’s valuation could reach $44 billion. This represents an increase of 342.21% from the current market cap of $9.95 billion.
With a valuation of $44 billion, 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 of $0.00008616, recorded on October 28, 2021.
Potential return on investment
Nonetheless, investors who acquire Shiba Inu tokens at the current price of $0.00001689 would realize a substantial profit of 342.21% on their investments if SHIB reaches a valuation of $44 billion.
For example, a $1,000 investment in Shiba Inu today would amount to $4,422 if SHIB managed to capture the $44 billion market cap.
Potential Shiba Inu Rise to $0.00007
Meanwhile, several analysts predict that the Shiba Inu will soon reach the $0.00007 price mark. Analyst Alan Santana speculated that it would reach the $0.00007 price level in early 2025.
Earlier this month, pseudonymous TradingView analyst Without_Worries leveraged key technical indicators to predict a potential 400% rally for Shiba Inu. According to the analyst, this rise could take the SHIB price to around $0.000074.
As enticing as these predictions may seem, it is important to exercise caution when investing in cryptocurrencies, including the Shiba Inu.
DisClamier: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
