Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu lead Shytoshi Kusama recently acknowledged a bold prediction about the digital currency's market value.
Kusama reposted a statement arguing that the second-largest meme coin could reach a $100 billion market cap this cycle.
The post was shared alongside a GIF showing Robert Picardo from "Family Business" with the words "YOUR WORDS, NOT MINE" displayed.
Shiba Inu's current market position
Shiba Inu has been on a rollercoaster ride over the past week, gaining more than 200% and vastly outperforming other major cryptocurrencies.
According to the latest data from IntoTheBlock, SHIB's current price stands at $0.000035, experiencing a 5.84% increase over the past 24 hours.
Impressively, 73% of SHIB holders are making money at the current price, with a large holder concentration also at 73%. SHIB has maintained a strong price correlation with Bitcoin at 0.79.
Holders' composition by time held shows a committed base, with 77% holding for over a year.
The path to $100 billion
Currently, only three cryptocurrencies boast a market capitalization exceeding $100 billion—Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
With SHIB currently valued at $15.3 billion, it sits as the 11th largest cryptocurrency, behind rivals such as Cardano (ADA) and Dogecoin (DOGE).
For SHIB to reach the illustrious $100 billion mark, it would have to record a monumental increase in value.
Specifically, it would need to appreciate by approximately 553%, a feat that would require substantial market demand and investor confidence to be achieved.
Arman Shirinyan
Yuri Molchan
Godfrey Benjamin
