Crypto expert predicts SHIB to hit $1 trillion market cap

With the Shiba Inu (SHIB) community implementing several initiatives to increase the meme coin’s utility, a cryptocurrency trading expert has made a bold prediction regarding the token’s market capitalization.

Particularly, crypto expert Casey Stubbs projected in an X post on June 16 that Shiba Inu will likely experience an inflow of capital, potentially elevating the token’s market cap to $1 trillion. This projection is anchored on the anticipated impact of Shiba Inu’s layer-2 scaling solution, Shibarium.

“I am envisioning a day where there are thousands of SHIB and BONEpairs trading on shibarium with billions of dollars worth of transactions daily and trillion dollar market cap,” he said.

The market expert was reacting to a post by another Shiba Inu insider with the pseudonym SpecialK, who highlighted the potential impact of Shibarium. SpecialK highlighted the platform’s foundational strengths, describing it as the backbone of the SHIB project.

He noted that Shibarium will redefine the crypto space and urged investors to prepare for a transformative journey.

Throughout the week, SHIB has displayed significant volatility, with the price hovering around the $0.000020 mark, which appears to be a support level. This level could be a critical psychological threshold for traders, with an initial weekly high of around $0.00002319 as a resistance level.

If the $0.000020 support level holds, SHIB may stabilize or attempt a rebound. However, a breach of this support level could lead to further declines.

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