Shiba Inu price has suffered with the rest of the market, losing as much as 10.5% and trading around $0.00001652. The meme coin is still popular in the crypto community for its potential for massive gains. A top trader has predicted that SHIB price has the potential to go on a 44,000% rally, but only if certain conditions are met.
Shiba Inu Price If It Skyrockets 44,000%
A former member of the IBM blockchain team and crypto analyst has predicted that Shiba Inu may be about to go on a 44,000% bull run. The trader pointed out that the first SHIB price run was also a 44,000% upswing when launched.
#SHIB looks like a bazooka, that first big move was 44,000% move to upside, if/when price breaks out of this long term rectangle, the 2.618 fib level is exactly 44,000% move from current price…thinking meme coins will lead us into the next cycle…#cryptolovesfibs pic.twitter.com/bgaVq18IqH
— Our New World 2.0 (@EasychartsTrade) September 30, 2024
This historical performance sets a precedent for what could happen if the price of SHIB breaks out of its current prolonged consolidation zone.
According to the trader, meme coins could lead the crypto market into the last phase of this bull cycle. A 44,000% increase from the current price means SHIB would increase to $0.00726.
Meme Coins Could Lead the Next Cycle
Meme coins have a unique appeal due to their strong community support and viral nature. For instance, Degen (Base) (DEGEN) secured a potential listing on Coinbase together with their io.net (IO). However, the response from the price of these two crypto projects is telling.
Assets added to the roadmap today: https://t.co/ZB01nl8WD5 (IO) and Degen (DEGEN)https://t.co/rRB9d3hSr2
— Coinbase Assets (@CoinbaseAssets) October 1, 2024
While DEGEN skyrocketed over 100% in less than 24 hours, IO price dropped 14.9%. The difference is community. The combination of technical patterns and community enthusiasm makes Shiba Inu a coin to watch closely.
Can SHIB Price Reach $0.00726?
Shiba Inu has a current market cap of 9.7 billion. A 44,000% increase in price means the market cap would swell by 440 times. This would bring it to a $4.268 trillion valuation.
SHIB’s market cap is only 0.42% of the entire crypto market. For it to swell to over $4 trillion, the total crypto industry value would have to grow to a mammoth $1 quadrillion. Bitcoin’s market cap would be $542 trillion, and its price would have soared to roughly $27 million.
These figures are impossible because, as it stands, the entire global money supply is only 89 trillion.
While a $4 trillion market cap is impossible, a 44,000% increase is possible if the SHIB burn rate increases. The market cap becomes too large because Shiba Inu circulates over 589 trillion tokens. If this number were to reduce significantly, Shiba Inu price price prediction suggests SHIB could easily surge 440X without upsetting the global money market supply. According to the ShibBurn platform, the burn rate has dropped 92% in the last 24 hours.
The post Top Trader Predicts 44,000% Rally For Shiba Inu Price If This Happens appeared first on CoinGape.
