Coinworld reported:
Prominent market commentator Oscar Ramos firmly believes that Shiba Inu will reach a market value of $100 billion, which could disrupt Dogecoin.
Shiba Inu has played a significant role in the broader bullish market seen over the past seven days. As background, the second-largest meme coin by market capitalization has surged 16% in the past 24 hours and 53% in the past week, outperforming almost all assets in the top ten rankings of cryptocurrencies.
Shiba Inu’s exponential growth has pushed its valuation to $15.3 billion, moving up two places in the cryptocurrency rankings by market capitalization. Tron and Toncoin have also entered the top ten amid the growing bullish momentum.
Following the weekend’s price surge, renowned market commentators have expressed their views on the next price trend for Shiba Inu. This includes famous market expert Oscar Ramos, who predicts that the valuation of this leading meme coin will reach $3 billion.
Experts claim that Shiba Inu’s valuation of $100 billion is certain.
November 10th
Update
Ramos asserts that Shiba Inu’s market capitalization will reach $100 billion. According to him, Shiba Inu’s explosive upward trajectory over the weekend confirms his statement.
It is worth noting that the expected market capitalization is about 165% of Shiba Inu’s peak value.
Market Capitalization
In October 2021, the meme coin reached $37.81 billion in market capitalization. Furthermore, the token’s market capitalization will increase by a staggering 554% from the current $15.3 billion to reach Ramos’ upper limit of $100 billion.
At the same time, a market capitalization of $100 billion will propel Shiba Inu ahead of high-quality assets such as XRP, Dogecoin, Binance Coin (BNB), and Solana, making it the fourth most valuable cryptocurrency. It is important to note that this will only happen when it reaches Ramos’ predicted upper limit while other companies maintain their current market valuations.
Price at Shiba Inu’s $100 billion market capitalization
It is worth noting that a market capitalization of $100 billion will significantly boost the price of Shiba Inu. With the current circulating supply of 589 trillion SHIB, the leading meme coin would be worth $0.0001697.
Meanwhile, as of the time of writing, the trading price of SHIB is $0.00002593, about 70% below its all-time high of $0.00008845. A peak price exceeding $0.0001697 would mean a 555% surge in the token’s value compared to the current market price.
Interestingly, such price surges of this nature are not uncommon for the second-largest meme coin by market capitalization. For example, SHIB surged 379% earlier this year, reaching an annual high of $0.00003568.
Furthermore, earlier analysts have also predicted that Shiba Inu’s valuation will reach $100 billion. Market expert Jake Gargain specified the valuation and promised to delete his X account if it fails to achieve this.
Another analysis also highlights that SHIB will impact the prestigious $100 billion market. Citing data from Coin Perspective, the report states that the meme coin will enter the $100 billion club in the short term.
