Shiba Inu (SHIB) price is trading higher today, March 24, with a modest 1.6% gain.

Trading volumes tend to have a major impact on the price. Whenever there is an uptick in buying activity, the ADX rises higher, indicating a strong bullish trend.

Shiba Inu price is trading higher today, March 24, with a modest 1.6% gain. The meme coin has flipped resistance at $0.0000128, and speculation is now rife among traders about whether it will maintain the bullish trajectory and attract high buy volumes. If traders start buying Shiba Inu with volumes of $50 billion to $100 billion, then SHIB could rise to as high as $0.01.

However, it is important to note that such a scenario is not likely to play out in the near term. Nonetheless, let's take a look at what could happen if this were to occur.

For instance, at press time, SHIB’s daily trading volumes stand at around $138M, which is 1.78% of the current Shiba Inu market cap of $7.76 billion.

Assuming a direct relationship between volume and market cap, a 362% rise in trading volumes to $50B would push SHIB’s new market cap to $2.78 trillion. With this market cap and a supply of 589 trillion, 1 SHIB token will be worth $0.0047.

On the other hand, to attain $100B in daily buy activity, this top meme coin would have to record a 724% rise in volumes, This would push its market cap to $5.55 trillion, where the price of 1 SHIB token will be worth $0.0094. This is close to the coveted $0.01 price target.

However, SHIB would need to gain interest from a large number of institutions and users for its daily trading volumes to surge to $50 billion or $100 billion.

For perspective, Bitcoin’s current daily volumes stand at $21 billion. This means that SHIB would have to achieve high utility and intense adoption for it to attract more interest than Bitcoin and record an over 362% rise in volumes.

Moreover, SHIB would have to surpass Bitcoin to attain a market cap of $2.7 trillion to $5.5 trillion. However, this cannot happen in the near term because, unlike Bitcoin, Ethereum, and other top altcoins, Shiba Inu has yet to see a surge in institutional interest.

However, if there is a reduction in the total Shiba Inu supply through SHIB token burns, then this price target can be achieved.

The filing of Shiba Inu ETF and the subsequent approval could also aid in increasing volume, making the $0.004 and $0.01 price targets achievable.