Shiba Inu (SHIB) Could Hit Unprecedented Levels if It Grows to Become a Top 3 Cryptocurrency

Shiba Inu slipped into the top 10 list in October 2021 amid its meteoric price run at the time.

Shiba Inu (SHIB) has been making headlines for its impressive price rallies and its battle to remain in the top 10 cryptocurrencies by market capitalization. From slipping into the top 10 in October 2021 to pushing toward reclaiming its spot this year, SHIB's journey has been marked by significant milestones.

As of May, Shiba Inu was ranked 13th among crypto assets by valuation, having fallen from the top 10 list earlier this year. However, some market observers remain optimistic about SHIB's potential to become a top 3 crypto asset.

To achieve this feat, Shiba Inu would need to experience a massive price rally. Currently, among the top 3 crypto assets, Bitcoin (BTC) has a market cap of $1.33 trillion, Ethereum (ETH) boasts a valuation of $387.9 billion, and Tether (USDT) has a market cap of $114.3 billion.

Shiba Inu Price as a Top 3 Asset

If SHIB were to attain USDT's market cap of $114.3 billion and become the third-largest crypto asset, it would need to reach a price of $0.0001944. This price, essentially a new all-time high (ATH), would mark a 1,031% increase from SHIB's current price of $0.00001718.

Meanwhile, for SHIB to become the second-largest cryptocurrency, it would need to reach Ethereum's valuation of $384 billion. Such a market cap would require a price of $0.0006583, representing a massive 3,731% increase for Shiba Inu.

Earlier this year, market platform Telegaon predicted SHIB to reach the $0.0006 zone in 2030, while Changelly set a target year of 2032 for SHIB to hit the $0.0006 price point.

To become the largest cryptocurrency by market cap, Shiba Inu would need to claim a valuation of $1.33 trillion. Considering its supply remains stable, a $1.33 trillion valuation for SHIB would lead to a price of $0.00226.

Changelly projected in April that SHIB is capable of hitting the $0.002 level between 2033 and 2040.

The above is the detailed content of Shiba Inu (SHIB) Could Hit Unprecedented Levels if It Grows to Become a Top 3 Cryptocurrency. For more information, please follow other related articles on the PHP Chinese website!