Shiba Inu to $0.001 Without Surpassing Bitcoin? Here Are the Facts
Shiba Inu remains one of the top meme-inspired crypto assets that many continue to speculate on for future price action. The coin started from humble beginnings with numerous zeros, but it is now down to just four as it trades at $0.00001552. Meanwhile, enthusiasts anticipate more progress, eagerly looking forward to when its price could shed even more zeros and reach $0.001. However, some have wondered whether SHIB can hit $0.001 without surpassing Bitcoin in market dominance. This article analyzes the potential scenarios.Understanding the NumbersAt the time of writing, Shiba Inu is trading at $0.00001552, with a market capitalization of around $9.2 billion. In contrast, Bitcoin sits comfortably with a market cap of approximately $2.01 trillion, with a price hovering around $103,861.To explore whether SHIB could hit $0.001 without surpassing Bitcoin, we need to estimate what would happen to SHIBs market cap if it reached that price. Notably, Shiba Inu's supply remains at approximately 589 trillion tokens.With this circulating supply, if SHIB were to hit $0.001, its market cap would rise to $589 billion. This would demand an astonishing growth of 7,297% from the current price level.So, what does this mean? Even with such a dramatic price increase, SHIB's market cap would still be nowhere near Bitcoin's.Bitcoins market cap, sitting at around $1.86 trillion, is nearly three times higher than SHIBs projected $589 billion at $0.001. This makes it clear that SHIB could reach $0.001 without surpassing Bitcoins market dominance.However, Shiba Inu cannot realistically surge by 7,297% while Bitcoin's price remains stable at its current position. In other words, if SHIB were to experience such an incredible 73X price movement, Bitcoin's price would also likely see some notable improvements, though on a smaller scale. Essentially, the gap between SHIB and Bitcoin could even widen further as Shiba Inu's price approaches $0.001, making it unlikely that SHIB would surpass Bitcoin in market dominance.What About Higher Price Targets for Shiba Inu?If SHIB were to continue its ascent beyond $0.001, the scenario would change. Lets consider two higher price points for SHIB: $0.005 and $0.01. At $0.005, the market cap of SHIB would soar to roughly $3 trillion, and at $0.01, it would surpass $6 trillion. At these levels, Shiba Inu would surpass Bitcoins current market cap. However, this would only happen if SHIB experienced a 36,882% or 73,864% surge while BTC remained at its current position, which is highly unrealistic. For example, if Bitcoin saw a modest 300% price increase from its current level, its market cap would exceed $7 trillion.ConclusionEssentially, Shiba Inu can comfortably hit $0.001 without overtaking Bitcoin, as its projected market cap at that price would still be far behind Bitcoins. However, if SHIB reached $0.005 or $0.01, its market cap would enter the trillion-dollar range and potentially rival Bitcoin, especially if BTC does not see comparable price growth.
Text source: The Crypto Basic
