Pundit Asserts Shiba Inu to Claim $100 Billion Valuation with Potential 367% Rally

While Shiba Inu has recently emerged as a notable performer in this crypto bull market, prominent community figures like Jake Gagain believe the asset is only just starting, projecting a more staggering multi-billion dollar valuation. In a recent post on X, Gagain proclaimed that Shiba Inu would attain a $100 billion market cap this bull season.

It went from 5 to 25b MC pretty quick, so 100b is probable, IMO.

— Giovanni Marsolis 🥅🏒🇺🇸🇮🇹🍕 (@Just_Gio_NYTX) March 6, 2024

Gagain’s bold outlook implies an approximately five-fold increase from Shiba Inu’s current cap of around $21 billion. His proclamation comes amid Shiba Inu’s recent astonishing price surge, breaking multi-year highs.

According to historical data from CoinMarketCap, on February 26, Shiba Inu traded at a low of $0.000009483. However, just ten days later, SHIB had already exploded by over 378%, reaching a high of $0.00004534.

Through its race to this height, Shiba Inu knocked out eight leading rivals, moving from a position of 18 to enter the ranking of the top ten most valuable cryptocurrencies. In parallel, SHIB’s market cap increased more than three-fold, from a mere $5.69 billion to over $21 billion.

The short timeframe with which Shiba Inu engineered this trajectory has heightened speculations about the asset’s further potential. Reacting to Gagain’s $100 billion projection, X user Giovanni Marsolis remarked that it is conceivable, given this recent performance.

Assuming SHIB’s circulating supply remains stable at $589 trillion through this bull season, a $100 billion market cap would put its price at $0.0001697. This price target translates to a potential 367.7% growth from SHIB’s current value of $0.00003628.

Interestingly, Shiba Inu recording a more significant percentage gain within the last ten days suggests the asset could surpass the $100 billion valuation much quicker than Gagain anticipates.

Meanwhile, in the last 24 hours, SHIB has crashed by over 10%, mirroring Bitcoin’s bearish volatility.

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