How High Can Shiba Inu Surge If It Mirrors Solana?

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Shiba Inu [SHIB] investors have been eagerly waiting for the meme coin to witness a pump. The cryptocurrency currently trades 81% below its all-time high of $0.00008845. At press time, SHIB was priced at $0.00008845 with a 3.49% drop over the past 24 hours. The coin’s market cap, however, is settled down at $9.39 billion. gain in market value could drive up the asset’s price, as the SHIB Army is expecting a rise. For instance, if Shiba Inu’s market value reaches over the $85 billion valuation that Solana [SOL] now has, the meme coin may surge by more than 700%. Shiba Inu has been having difficulty lately due to several days of price declines.

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Also Read: Shiba Inu: 5.9 Trillion SHIB Up For Sale, Another Dip Coming?

Looking Ahead

SHIB fights with an enormous token supply of more than 589 trillion, claims ChatGPT. With no significant token burning planned by the community and an unchanged supply, a $85 billion market capitalization would translate to a price of about $0.00014415 per SHIB token. This estimated price is a significant increase of 762% over the current market value of $0.00001675 for Shiba Inus. Additionally, it significantly exceeds the coin’s $0.00008845 all-time high from 2021.

Achieving a high of $85 billion in market cap could boost the entire SHIB ecosystem. Several analysts believe that the meme coin has the potential to reach a high of $100 billion in market cap during this bull cycle. This could propel SHIB to a high of $0.00016.

While SHIB celebrates its fourth birthday, most of its holders were at a loss. At the asset’s current price range, 47.81% of SHIB holders were seen pocketing profits. Investors drowning in losses were at a majority. About 48% of the meme coin holders were in the red, according to data from IntoTheBlock.

Also Read: Shiba Inu (SHIB) Turns 4: August Price Predictions

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