Shiba Inu has failed to shed a zero this year. The second-largest meme coin would need to soar well over 1,000% to reach the ambitious future price targets theorized by proponents. Doing so potentially hinges on consolidating more global market share.
Currently, SHIB sits outside the top 15 crypto assets with a comparatively paltry $5.2 billion market capitalization. That equals about 0.3% of the $1.69 trillion aggregate valuation for all digital assets.
Also read: Shiba Inu (SHIB) Forecasted To Reach $0.001: Here’s When
What will happen if Shiba Inu captures 5% of the market cap?
If frenzied retail interest allowed the meme coin to seize just 5% of the total crypto market cap, its capitalization would reach $80 billion. At the current SHIB circulating supply, that would hypothetically drive per-token values to $0.000137.
Such prices would represent a dizzying 1,416% leap from today’s $0.000009 level. October 2021’s record high of $0.000088 seems suddenly within reach again for diehard proponents.
Clinching even 1-2% of the broader crypto market could have similarly seismic impacts on exchange rates. It would place Shiba Inu on par with other top coins.
Also read: Shiba Inu: If You Invested $1000 In 2020, How Much Could You Make?
Of course, many variables and unknowns stand in the way between present values and future prosperity. The circulating token supply would need to drop substantially through burns without offsetting selling pressure.
With little change in Shiba Inu fundamentals since last year’s surge and collapse, betting on another parabolic ascent requires lots of faith and patience.
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