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Shiba Inu’s (SHIB) previous all-time record could be reached if the crypto market cap in the world reaches $10 trillion.
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If SHIB’s market dominance continues, its current market capitalization of $10.02billion could reach $44billion.
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Analysts predict that SHIB could reach $0.00007 in early 2025.
Shiba Inu could reach its all-time high, if it maintains its current position in the $10 trillion global cryptocurrency markets.
Shiba Inu and the broader market experienced a significant decline on Friday and Saturday. The news of an investigation into Tether, the largest stablecoin, for alleged anti-money laundering violation led to a crash in prices.
At the time we reported, the total crypto market capitalization was approximately $2.287 trillion. This is down 1.87% over the past 24 hours. Shiba Inu followed suit, experiencing a drop of 1.23% with a $10.02 billion market cap.
Crypto Market to Reach New Heights
The global cryptocurrency market cap, currently estimated at $2.287 trillion is expected to reach new heights over the next few years. Ripple CEO Brad Garlinghouse, for example, has predicted that it could reach $5 trillion before the end of 2024.
Some analysts predict that the total market capital could reach $10 trillion before the end of the cycle in 2024/2025. This is especially true if Bitcoin reaches $250K as many pundits have predicted.
Shiba Inu’s Potential in a Market Worth $10 Trillion
Shiba Inu will see its price increase if the global market cap reaches 10 trillion dollars, depending on market dominance. Shiba Inu has a market cap of roughly $10.02billion, which represents about 0.44% on the $2.287 trillion global market.
SHIB could see its valuation jump to $44 billion if this dominance continues at a market cap of $10 trillion. This is a 339.4% increase from its current market capitalization. SHIB, at this valuation, could trade for approximately $0.00007509 a token, assuming that the circulating supply is 589 trillion tokens.
Several analysts are confident that Shiba inu could reach the $0.00007 level. Analyst Alan Santana believes that SHIB will reach this level in early 2025. A TradingView anonymous analyst has also predicted a 400% rally that could raise SHIB’s value to $0.000074.
These projections are optimistic but still below SHIB’s all-time highest of $0.00008616 reached on October 28, 2020.
Shiba Inu, currently priced at $0.00001709, would generate a return of 4.4X if it reaches a market cap of $44 billion.
