Various analysts view Shiba Inu as a promising investment during the current market downturn, with some predicting a $100 billion market cap. Recently, Blockchainedbb, a pseudonymous crypto analyst, described it as an easy-to-hold asset and recommended it for portfolio expansion. This perspective came in response to questions about SHIB’s potential amid the market correction.
SHIB is good for people who size up . Someone with small portfolio should look into ultra low caps with good reputation . Safer than memes , better returns than mid caps . SHIB is a large cap . I recommend SHIB cuz it’s less volatile due to market cap . Easy to hodl https://t.co/wuVkKNujGu
— Blockchainedbb (@blockchainedbb) June 24, 2024
Blockchainedbb recommended that small portfolio holders opt for reputable ultra-low-cap assets, which offer safer investments than meme coins and better returns than mid-caps. Despite acknowledging SHIB as a large-cap cryptocurrency, the analyst still recommended it as a buy. Blockchainedbb noted that SHIB’s larger market cap reduces volatility, making it more stable than ultra-low-cap meme assets that could plummet by over 50% during market corrections.
Related article: Shiba Inu Team Cautions Investors, Kusama Hits Milestone on X
Current Market Performance Of Shiba Inu
Notably, Shiba Inu hovers around $0.00001696 at press time, down by over 15% in the last seven days. On a 30-day scale, it shoulders a more substantial 30% loss, putting its valuation at $9.98 billion.
Related article: Shiba Inu’s Imminent Rally: Analysts Project $0.0001 Milestone
Despite briefly dipping below the $10 billion market cap threshold, some ambitious market watchers are confident it could reach a $100 billion valuation despite current market sentiment. Analyst Zach Humphries separately affirmed Shiba Inu’s trajectory towards a $100 billion market cap this cycle.
$SHIB to $100B $PEPE to $50B$BRETT to $30B
— Zach Humphries (@Z_Humphries) June 24, 2024
Do you agree or disagree with these memecoin market cap targets this cycle?
Humphries also suggested that Shiba Inu contenders like PEPE could boast a $50 billion cap by next year. A $100 billion cap would elevate Shiba Inu’s market price to $0.0001697, reflecting a potential 904.14% increase from its current value of $0.000017.
Other Analysts Share Optimistic Views
Humphries is not the only community pundit projecting this ambitious threshold for Shiba Inu. During March’s frenzy, analyst JAKE Gagain suggested SHIB might reach a $100 billion valuation before Dogecoin. Amid ongoing discussions, some question if exchanges like Coinbase can handle the increased market activity from SHIB’s $100 billion cap.
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While Shiba Inu has faced recent declines, analysts remain optimistic about its long-term potential, recommending it as a strategic addition for portfolio growth.
