Traders predict a 44,000% rise in SHIB! Is it achievable?

Like the rest of the market, the Shiba Inu suffered just like the rest of the market. It fell by 10.5%. However, it remains popular in the cryptocurrency community due to the potential for huge profits. Interestingly, one well-known trader predicts that SHIB price could reach a massive 44,000% increase if certain conditions are met.

Meme coins lead the market

Former member of the IBM blockchain team and crypto analyst. predicted This means that Shiba Inu may be about to make a 44,000% bullish run. The trader also pointed out that the initial SHIB price increase was also up 44,000% at the start.

This historic performance sets a precedent for what will happen if SHIB price breaks out of its current long consolidation zone. The trader predicts that memecoin could lead the crypto market to the final stage of this bullish cycle.

Remarkably, an increase of 44,000% from current price would take SHIB to $0.00726.

High-volatility meme coins have a unique appeal, usually have strong community support, and have a viral nature. The combination of technical patterns and community enthusiasm is what makes Shiba Inu a coin to watch closely.

Is it possible for the Shiba Inu to soar 44,000%?

Currently, Shiba Inu’s market capitalization is $9.7 billion. If the price rose 44,000%, the market capitalization would increase 440 times, giving it a valuation of $4.268 trillion. SHIB’s market capitalization is only 0.42% of the entire cryptocurrency market.

In order to expand to over $4 trillion, the total value of the virtual currency industry will need to grow to a gigantic scale of $1,000 trillion. Bitcoin’s market capitalization would have been $542 trillion, and the price would have soared to about $27 million. However, these numbers are impossible because the entire world money supply is only 89 trillion.

Nevertheless, while a $4 trillion market cap is not possible, a 44,000% increase is possible if SHIB’s burn rate increases. Shiba Inu has over 589 trillion tokens in circulation, so its market capitalization is too large. If this number decreases significantly, SHIB could easily soar 440x without disrupting global financial market supply, according to Shiba Inu’s price forecast. According to the ShibBurn platform, burn rates have decreased by 92% in the past 24 hours.

Is an epic rally just around the corner?

The Shiba Inu has gained attention following its rapid rise in 2021. As October begins, traditionally a bullish month for cryptocurrencies; expert We expect a similar price increase for SHIB.

The Shiba Inu has experienced a dramatic price increase, rising 43% in the past nine days. This rise was driven by a notable increase in on-chain activity compared to other altcoins and meme coins. SHIB’s trading volume also surged, reaching 1.19 billion. Although the current bullish outlook looks good, the growing hype raises the possibility of a ceiling in domestic prices.