Shiba Inu (SHIB) Might Eliminate Two Zeros from Its Price and Surpass the $0.001 Mark

Bitcoin (BTC), the world's largest cryptocurrency by market cap, is still struggling to revisit the $100,000 mark

Shiba Inu (SHIB) might eliminate two zeros from its price and surpass the $0.001 mark if it closely mirrors Bitcoin’s growth to a market cap of $200 trillion.

Shiba Inu’s strong correlation with Bitcoin could have a significant impact on the altcoin’s price action, especially if BTC increases. Over the past 30 days, Shiba Inu’s correlation with Bitcoin stands at 92%, while over the past two months, it is at 85%.

A correlation of over 80% implies a strong linkage, suggesting that if one asset moves, the other will follow closely. In essence, both assets are performing in tandem.

Shiba Inu Price If Bitcoin Hits A $200T Valuation

If Shiba Inu stays correlated with Bitcoin, then it could hit a new ATH in a scenario where Bitcoin’s market cap hits $200 trillion, as predicted by Blockstream’s CEO.

Hitting the $200 trillion market cap from Bitcoin’s current valuation of $1.89 trillion demands a surge of 10,482%. If Shiba Inu’s valuation also grows at this rate, then SHIB’s market cap would increase from the current value of $7.6 billion to $804.23 billion.

at this market cap, 1 SHIB token would be worth $0.001364, assuming Shiba Inu’s supply of 589.24 trillion tokens remains constant. The projected target of $0.001364 represents an increase of 10,482% from the current value of $0.00001588.

Shiba Inu Price Prediction: 10 Years From Now, SHIB Could 0.0013 Hit As BTC Hits $200T Market Cap

While the $0.001364 target demands a monumental increase from the current price, some analysts still think that Shiba Inu can achieve the milestone within a few years from now.

For instance, crypto trading firm Changelly’s established experts predict that Shiba Inu might clinch the $0.0013 target between 2035 and 2039, 10 – 14 years from this year.

In their previous analysis, these experts forecasted that SHIB would not hit the $0.00136 target until 2040. However, their latest prediction indicates that they expect SHIB to clinch the price target sooner, potentially driven by increased adoption of SHIB and Shibarium.

According to leading prediction platform Telegaon, Shiba Inu will surpass the $0.001364 target by 2035, precisely 10 years from today.

Despite this analysis’s lucrative potential, it should not be referenced as investment advice. The speculative nature of cryptos makes it challenging to predict the future performance of assets like Shiba Inu accurately.

Also, this analysis underestimates Shiba Inu’s performance, particularly in an event when Bitcoin hits a market cap of $200 trillion. Shiba Inu has a track record of outperforming Bitcoin during a bull market, as observed in the 2020/2021 cycle. Therefore, SHIB could surpass the $0.001364 target if Bitcoin hits the $200 trillion market cap.