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.
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.
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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.
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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.
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.
While Shiba Inu has faced recent declines, analysts remain optimistic about its long-term potential, recommending it as a strategic addition for portfolio growth.
