The Shiba Inu (SHIB) market has been eagerly waiting for the meme coin to hit the 1-cent mark. But at the rate at which the asset is currently moving, it might take longer than expected. Amidst the array of predictions, An analyst predicted that SHIB could reach $0.003 if Bitcoin (BTC) rises to a high of $150,000.
Also Read: Telsa (TSLA) Q3 Earnings to Arrive This Week: What to Expect
Predicting Shiba Inu’s Future: Will It Reach $0.003?
It should be noted that BTC is currently trading at $67,575.09. The king coin will have to rise by a staggering 121% in order to reach $150,000. Despite this, several institutions have been sharing bold predictions. Standard Chartered believes that Bitcoin can surge to this high by this year. Bernstein affirmed that the world’s largest currency will rise to $150,000 in 2025.
If BTC hits this milestone by next year, SHIB could follow suit and achieve the $0.003 mark. This will be a major uptick for the meme coin as it currently trades at a low of $0.00001855 following a daily drop of 3%. The latest prediction outshines SHIB’s all-time high of $0.00008845 as well.
Also Read: Donald Trump’s Tax Plan To Exempt 93M Americans From Income Taxes
Analyzing Shiba Inu’s Potential Growth
Shiba Inu or any other cryptocurrency in the market has delivered gains to those who hold for a longer duration. There would be a larger return if the $0.003 milestone was reached. This is because of the meme coin’s current price level.
A $1,000 would bring in a significant amount of Shiba Inu, 53.89 million tokens to be precise. If the meme coin reaches a high of $0.003, the $1,000 investment would turn into $161,400. This translates to a notable $160,402 in profits. But the cryptocurrency market is volatile. As a result, the future of SHIB remains quite uncertain.
Also Read: Spirit Airlines Jumps 50% in 24 Hours: Why is SAVE up Today?
Credit: Source link
