Is Shiba Inu’s Market Cap Set to Reach $100 Billion as Shib Price Surges?

Shytoshi Kusama, the driving force behind the Shiba Inu cryptocurrency, has made a bold prediction that has caused a stir in the crypto world. Kusama shared a statement suggesting that Shiba Inu could reach a market cap of $100 billion in this cycle, adding a touch of humor with a GIF from “Family Business” featuring Robert Picardo mouthing, “YOUR WORDS, NOT MINE.”

The recent surge of Shiba Inu has left many wondering if it will stabilize around $0.00002 after spending months below $0.00001. As the second-largest meme coin, Shiba Inu has had an incredible week, surpassing many major cryptocurrencies with a surge of over 200%.

Currently, Shiba Inu is priced at $0.000035, experiencing a 5.84% increase in the past 24 hours. A remarkable 73% of SHIB holders are in profit, with a majority of them being large holders. The coin maintains a strong correlation of 0.79 with Bitcoin, and 77% of its holders have remained invested for over a year, showcasing a dedicated investor base.

However, reaching a $100 billion market cap for Shiba Inu is no small feat. Currently, only three cryptocurrencies—Bitcoin, Ethereum, and Tether—have market caps exceeding $100 billion. With Shiba Inu’s current valuation at $15.3 billion, it currently ranks as the 11th largest cryptocurrency, trailing behind competitors like Cardano and Dogecoin.

To achieve a $100 billion market cap, Shiba Inu would need a staggering 553% increase in value, requiring significant demand and investor confidence.

In the latest update, Shiba Inu is priced at $0.000038, bouncing back from $0.000027. Bulls have defended the $0.000027 support level and pushed the price above the $0.000035 resistance level. There is a potential for the price to reach $0.000040, but a rejection could bring it back below $0.000035.

The Relative Strength Index (RSI) is currently at 62.20, indicating a return of buying momentum. The bullish outlook depends on sustained buying pressure, with a risk of bearish momentum if sellers resist. The rollercoaster ride of Shiba Inu continues, and crypto enthusiasts eagerly await to see if Kusama’s predictions will come true.

Tags: Altcoins.