Shiba Inu Price Drops Amid Market Downturn, But a 44,000% Surge Could Be on the Horizon

Shiba Inu Price Drops Amid Market Downturn, But a 44,000% Surge Could Be on the Horizon

Shiba Inu (SHIB), like much of the cryptocurrency market, has seen a significant decline, losing as much as 10.5% and now trading around $0.00001652. Despite this, SHIB remains a favorite among the crypto community, especially for its potential to deliver massive returns. A prominent trader has forecasted that SHIB could see a staggering 44,000% rally, provided key conditions are met.

Shiba Inu Price Projection with a 44,000% Rally

A former IBM blockchain expert and well-known cryptocurrency analyst has suggested that SHIB may be on the brink of another extraordinary bull run. The analyst pointed out that SHIB’s first major price surge also saw a 44,000% increase, establishing a precedent for what might happen if the coin breaks out from its current consolidation phase.

This historic rally could be a signal for the future, as SHIB’s technical setup hints at a similar breakout. The analyst believes that meme coins like SHIB could be instrumental in leading the final phase of the current bull cycle. Should this prediction come true, SHIB price would rise to an impressive $0.00726.

Meme Coins as Catalysts for the Next Bull Cycle

Meme coins have consistently captured the market’s attention, thanks to their passionate communities and viral appeal. Recent examples include Degen (DEGEN) on the Base network, which surged over 100% within 24 hours, while IO.net (IO), despite its potential listing on Coinbase, saw its price drop by 14.9%. This stark contrast highlights the critical role community support plays in driving price action.

With its dedicated community and growing interest, Shiba Inu remains a coin to keep an eye on. Technical patterns, combined with community enthusiasm, could fuel SHIB’s next explosive move.

Can SHIB Reach $0.00726?

Currently, Shiba Inu has a market cap of $9.7 billion. A 44,000% price increase would drive its market cap up 440 times, resulting in a staggering $4.268 trillion valuation.

However, this presents a significant challenge. Shiba Inu’s market cap currently accounts for just 0.42% of the entire cryptocurrency market. For SHIB to hit a $4 trillion valuation, the total crypto market would need to expand to an astronomical $1 quadrillion. Under these conditions, Bitcoin’s market cap would soar to $542 trillion, with its price reaching an unimaginable $27 million per coin. Given that the entire global money supply stands at only $89 trillion, such figures are simply not feasible.

That said, a 44,000% rally is not entirely out of the question if Shiba Inu’s burn rate increases dramatically. The current market cap is inflated by SHIB’s vast circulating supply of over 589 trillion tokens. A significant reduction in this supply through token burns could pave the way for SHIB to surge 440x without disrupting the broader financial system. However, as reported by the ShibBurn platform, the token burn rate has dropped by 92% in the last 24 hours, indicating that this crucial factor may need to accelerate for such a dramatic price increase to occur.