If Bitcoin Hits $10T Market Cap, Here’s Where Shiba Inu Price Could Land

Shiba Inu’s price could more than triple if it follows Bitcoin’s trajectory and the leading cryptocurrency attains a $10 trillion market cap.

Shiba Inu has continued to suffer from the effects of the market downturn that started two weeks ago. Notably, SHIB slipped from the 22nd to the 23rd spot in the global cryptocurrency rankings.

Shiba Inu lost the 22nd position to Toncoin, which currently sits on a market cap of $7.93 billion. On the other hand, Shiba Inu is valued at $7.30 billion, trailing Toncoin’s market valuation by over $600 million

Bitcoin’s influence in the crypto market cannot be overstated. Its rally usually translates into a broader market surge, and vice versa.

Examining the performance of Shiba Inu and Bitcoin reveals that both assets are closely correlated. This suggests that any potential spike in Bitcoin’s price could positively influence SHIB’s trajectory

Shiba Inu Price if Bitcoin Reaches $10T Market Cap

Given the close relationship between the assets, some may wonder how high Shiba Inu would soar if Bitcoin reaches a market capitalization of $10 trillion. As reported previously, Cardano founder Charles Hoskinson boldly predicted that Bitcoin would reach a $10 trillion market cap by the end of the decade, specifically by 2030

The Cardano founder highlighted that Bitcoin’s path to a $10 trillion market cap will be fueled by increasing adoption in the U.S. and its expanding accumulation by corporate treasuries

Currently, Bitcoin has a market cap of $2.15 trillion. For Bitcoin to reach a $10 trillion valuation, it must rally 365.11% from its current market cap, which would automatically push its price to $502,169. This estimate assumes that Bitcoin’s supply remains at the current level of approximately 19.91 million coins

Since Shiba Inu closely follows Bitcoin’s price movement, the meme-based token could experience similar growth. If this happens and Shiba Inu rallies by 365.11%, its market cap — currently standing at $7.3 billion — will rise to $33.95 billion

With a circulating supply of about 589.25 trillion tokens, Shiba Inu would be valued at $0.00005761 if its market cap reached $33.95 billion

Although the growth rate may seem lofty, Shiba Inu has previously achieved this target. The last time SHIB traded around the $0.000057 mark was in November 2021, shortly after setting an ATH of $0.00008845. SHIB has continued to trade below the level ever since

SHIB to $0.0005 Predictions

Despite retracing below the level, some market commentators still think SHIB will reclaim the $0.00005 target in the future. Last year, Alex Clay teased that SHIB would reach the price milestone after the U.S. election. However, the prediction did not materialize

Notably, popular market watcher Dallas Maker set a conservative target of $0.00005816 for SHIB, indicating that the forecast would likely materialize in the short term

Meanwhile, most experts expect Shiba Inu to surpass the $0.000057 level and head towards loftier targets, such as $0.0001, before the end of this year. Himanshu Maradiya, the co-founder of CIFDAQ Blockchain Ecosystem, is among the proponents of this prediction