This article estimates how high Shiba Inu's market cap must soar to potentially push SHIB to rank among the top three biggest cryptocurrencies globally.
Shiba Inu (SHIB) has set its sights on the top three cryptocurrencies globally, aiming to dethrone XRP (XRP) from the third position. Currently ranked 16th by market cap, SHIB faces an uphill battle that will require a massive 1,542% surge in valuation to achieve this goal.
Despite the challenges, several predictions suggest that SHIB could reach the $0.000275 price mark in the coming years. Analysts at Changelly project an average target of $0.000272 for SHIB by January 2032, with a minimum and maximum price target of $0.000263 and $0.000306, respectively. Telegaon, on the other hand, speculates that SHIB will hit $0.000275 sooner, aiming for 2028.
To put this growth into perspective, a portfolio of 100 million Shiba Inu tokens, currently valued at $1,675, will be worth $27,500 if SHIB reaches the $0.0002750 target.
However, it's crucial to note that this analysis assumes XRP's valuation remains stagnant at $162.01 billion, which is unlikely given the dynamic nature of the crypto market.
Moreover, several factors must align for SHIB to clinch the third position in the global crypto market cap. These include mainstream adoption of SHIB and other ecosystem projects, increased burns, and a strong bull market.
Despite the optimism, caution is advised as always, and nothing is guaranteed in crypto trading.
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