Top Trader Predicts 44,000% Rally For Shiba Inu Price If This Happens

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.

Frequently Asked Questions (FAQs)

The primary condition for this massive price surge is an increased burn rate for Shiba Inu tokens, which would significantly reduce the circulating supply. If the burn rate increases, it could create the conditions necessary for SHIB to surge in value.

Yes, Shiba Inu’s first major price run was also a 44,000% increase, which serves as a historical precedent for the possibility of another similar surge.

According to the analyst, meme coins, including Shiba Inu, could drive the market in the final phase of the current bull cycle due to their strong community support and viral appeal.

Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/markets/top-trader-predicts-44000-rally-for-shiba-inu-price-if-this-happens/