Coin Edition -
- Shiba Inu could rally 304% by capturing 1% of the crypto market’s $1.59 trillion cap.
- The rally would put SHIB’s market value at a pricey $0.0000365.
- Shiba Inu last hit $0.0000365 during the peak of the 2021 crypto bull season.
Shiba Inu is currently valued at a modest $0.000009029 per unit. This reflects a 15% decline from its highest point in the past 30 days, which stood at $0.00001074. Notably, the asset is the 18th most valuable crypto, with a market capitalization of $5.32 billion at the time of reporting.
Considering the global crypto market totaling $1.59 trillion, SHIB’s valuation indicates it holds only a 0.3345% share of the entire crypto market. Meanwhile, a compelling consideration emerges regarding SHIB’s value if it were to obtain 1% of the $1.59 trillion crypto market.
Acquiring a 1% share of $1.59 trillion equates to securing a more expensive $15.9 billion. Consequently, with Shiba Inu’s current valuation at $5.32 billion, a 1% increase would raise SHIB’s market share to a substantial $21.22 billion. This value closely mirrors XRP’s valuation, an asset trading at $0.5212.
However, due to SHIB’s significantly larger circulating supply, it is unlikely for the asset to trade at a comparable value per unit. In this scenario, Shiba Inu’s value would be approximately $0.0000365, considering a circulating supply of 581.25 trillion.
Significantly, a surge from the current market value of $0.000009029 to $0.0000365 would reward SHIB holders with a notable 304% return on investment. While the $0.0000365 price point appears formidable, the asset has previously claimed such lofty territory.
In particular, Shiba Inu last reached the $0.0000365 threshold in December 2021, during the peak of the last crypto bull season.
Shiba Inu market chart | CoinMarketCap
This value surge coincided with the overall frenzy in the crypto market at that time. The 2021 Shiba Inu frenzy made many millionaires and even billionaires, particularly SHIB’s early adopters. However, the asset has not come close to the price point ever since.
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