Shiba Inu’s (SHIB), is experiencing a minor rebound, following Bitcoin’s (BTC), reclaiming of the $60,000 level. SHIB’s daily chart has seen a 1.1% rise and a 0.8% increase over the last week.
SHIB is still trading in red despite the recent upswing. The 14-day chart shows a drop of 15.6%, and the month prior a decline of 23.9%.
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SHIB Price, Market Cap and Other Factors that Influence SHIB
Why is there a rise in the Crypto Market?
Following the release of US inflation figures, the latest market rally has followed. The US inflation rate is cooling faster than analysts expected.
Investors may be hoping for a rate reduction this year because of the cooling inflation numbers. Federal Reserve officials have not made a formal announcement, but many expect the Federal Reserve to reduce interest rates by September.
How high can SHIB go if its market capitalization reaches Bitcoin’s level?
Bitcoin (BTC), as of today, is valued at $1.2 trillion. Shiba Inu Coins (SHIB), on the other hand are currently in circulation. SHIB market capitalization equals Bitcoin’s, so the cost of each SHIB coin will be $0.0020. (Market cap divided by number of coins in circulation).
SHIB’s all-time highest price will be $0.0020. It will be a gain of more than 14,400%.
Also Read: Shiba Inu: Can SHIB Rally 700% And Hit $0.00008 In 2024?
SHIB To Hit $0.002 in the Future?
Shiba Inu’s (SHIB), according to Changelly, could be worth $0.002 between 2033 and 2020, or nine years.
Telegaon has a similar view of SHIB. It predicts that in about 11 years, the asset is expected to surpass $0.002 by 2035.
SHIB’s prospects are promising but not certain. SHIB has yet to reach its goals.
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Source: watcher.guru