Coin World Report:
The Shiba Inu (SHIB) market has been eagerly awaiting the meme coin to reach the 1 cent mark. However, given the current pace of the asset, it may take longer than expected. In a series of predictions, an analyst forecasts that if Bitcoin (BTC) reaches a peak of $150,000, SHIB could reach $0.003.
Also Read:
Tesla (TSLA) Q3 Earnings to be Announced This Week: What to Expect
Forecasting the Future of Shiba Inu: Will it Reach $0.003?
Image Source: Watcher Guru
It is worth noting that BTC’s current trading price is $67,575.09. King Coin would have to rise an astonishing 121% to reach $150,000. Despite this, some institutions have been sharing bold predictions. Standard Chartered Bank believes that Bitcoin could surge to such high levels by the end of this year. Bernstein confirms that the world’s largest cryptocurrency will reach $150,000 by 2025.
Source
If BTC reaches this milestone next year, SHIB may follow suit and reach the significant mark of $0.003. This would be a significant increase for the meme coin as its current trading price stands at $0.00001855 after a daily decline of 3%. The latest prediction also surpasses SHIB’s all-time high of $0.00008845.
Also Read:
Donald Trump’s Tax Plan Exempts 93 Million Americans from Income Tax
Analyzing the Potential Growth of Shiba Inu
Shiba Inu or any other cryptocurrency in the market has brought profits to those who hold for a longer period. The returns would be even greater if the milestone of $0.003 is reached. This is because of the current price level of the meme coin.
$1,000 would bring a significant amount of Shiba Inu, specifically 53,890,000 tokens. If the meme coin reaches the peak of $0.003, a $1,000 investment would turn into $161,400. This represents a profit of $160,402. However, the cryptocurrency market is highly volatile. Therefore, the future of SHIB remains quite uncertain.
Also Read:
Spirit Airlines Rises 50% in 24 Hours: Why Should You Save Money Today?