Markets
Here is the price of Shiba Inu if it gets the market cap of Bitcoin
Shiba Inu price could see substantial growth if it reaches the market capitalization of Bitcoin (BTC), the largest crypto asset.
The market hasn’t been entirely fair to the Shiba Inu, with prices seeing a nosedive following the latest gains. At its current price, SHIB is down 7.57% from its May 16 high of $0.00002588. Notably, this downward pressure has kept it below the yearly high of $0.000045 as selling continues to accumulate.
SHIB faces fire sales
The Accumulation/Distribution indicator confirms this persistent sales campaign. This metric reached a daily high of 35.293 trillion SHIB on May 3, right before Shiba Inu hit a high of $0.00002632 the next day. The spike in the Accumulation/Distribution metric suggests that more investors were buying more SHIBs than selling.
However, after reaching 35.293 trillion Shiba Inu high, the parameter continued to decline, currently standing at SHIB 16,707 trillion. This was the result of a surge in selling, as market participants rushed to dump their break-even tokens following the latest rally. The resulting downward trend also impacted Shiba Inu’s market capitalization.
Shiba Inu price if it reaches Bitcoin’s market cap
SHIB now has a market capitalization of $14.08 billion, making it the 11th largest cryptocurrency on the market. The drop in valuation has led to the price of Shiba Inu giving up its place among the top 10 assets. Meanwhile, Bitcoin, the largest crypto asset by market cap, currently boasts $1.31 trillion, or 92.7 times SHIB’s valuation.
Shiba Inu’s current market capitalization is due to its struggling price at $0.00002390. Market analysts have predicted that SHIB will reach stronger levels in the near future. Some of these analysts to expect Shiba Inu will reach a price of $0.00051. Meanwhile, last month, Lucie, a content specialist, expressed trust in the SHIB which touched the $0.01 level.
Most people who have expressed doubts about some of these price projections have cited SHIB’s circulating supply, which could cause its market capitalization to skyrocket to unsustainable levels at these prices. As a result, The Crypto Basic recently assessed what the price of Shiba Inu could realistically be if it captured Bitcoin’s market capitalization.
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If Shiba Inu had a market valuation of $1.31 trillion, its price would rise to $0.002217, marking a massive gain of 9.287%. At this price, $1,000 invested in Shiba Inu would turn into $92,761. This further demonstrates the scale of such a rally. There is little evidence that SHIB can capture even 10% of this valuation.
Disclaimer: 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 opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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