SHIB Rally in the Following Weeks?

The popular meme coin made the headlines at the end of last September, with its price reaching a three-month high and its market capitalization briefly exceeding $12.5 billion.

After reaching a three-month high and briefly boasting a market capitalization of over $12.5 billion in late September, the popular meme coin made headlines. The community anticipated further gains in October, given the cryptocurrency industry’s historically strong performance during the month.

However, the sector experienced a sharp correction instead. Among the assets that were hit the hardest was Shiba Inu (SHIB), which fell to a local low of around $0.00001570 on October 3. It has since recovered some of the losses and is currently trading at approximately $0.00001738 (data from CoinGecko).

Some analysts remain optimistic that SHIB will enter a bull run phase in the coming weeks, despite the recent lackluster performance. The X user CRYPTO SHERIFF is a proponent of this theory. The enthusiast observed the asset’s rise following the pullback, predicting that “the rise will accelerate” soon.

Another well-known analyst who predicted good times ahead for SHIB is the X user Yoddha. Earlier this week, they stated that the price pattern had formed a specific triangular shape, which could lead to a 130% rally if broken to the upside.

What About a SHIB Price Explosion to $0.1?

Some die-hard supporters of the meme coin frequently mention the 1 cent target, believing that SHIB has plenty of room to grow over the next few years.

It's important to note that such a significant rally would increase its market capitalization to an astronomical $58 trillion. Currently, the total capitalization of the entire cryptocurrency sector is less than $2.3 trillion, rendering the assumption highly improbable.

The X user Altcoin Daily commented on the subject, explaining how unlikely such a scenario really is:

“I heard someone talking about how they bought SHIB because if it only goes to 1c next year then they will be a millionaire. This is literally not possible with SHIB’s current market cap. Learn how to value coins in market cap vs price.”

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