Here’s How High Shiba Inu Price Could Rise If It B

If Shiba Inu grows to half the size of Ethereum, its price could soar to a new all-time high, offering significant returns for early investors.

Since its launch in August 2020, Shiba Inu has had close ties to the Ethereum blockchain. Specifically, SHIB is an ERC-20 token built on Ethereum, meaning it could benefit directly from any increase in ETH’s value.

This relationship is evident in the recent price movements of both assets. IntoTheBlock’s data shows that Shiba Inu has maintained a 78% correlation with Ethereum over the past 30 days. This is significantly higher than its 41% correlation with Bitcoin during the same period.

In the last 24 hours, both Ethereum and Shiba Inu have experienced price declines. ETH has dropped by 1.59%, while SHIB has fallen by 2.01%.

Shiba Inu’s Price If It Becomes Half the Size of Ethereum

Given Shiba Inu’s connection to Ethereum, The Crypto Basic estimated SHIB’s price if it were to grow to half the size of ETH. This scenario assumes that Shiba Inu’s market capitalization reaches 50% of Ethereum’s current value.

As of now, Ethereum is trading at $2,561 with a market cap of $309.27 billion. Half of this valuation equates to approximately $154.64 billion.

Meanwhile, Shiba Inu has a market capitalization of $6.9 billion and ranks as the 19th-largest cryptocurrency. SHIB is currently trading at $0.00001172, posting negative returns over the past day.

Meanwhile, if Shiba Inu’s market cap were to rise to $154.64 billion, it would represent a 2,141% increase from its current valuation. This would also surpass Jake Gagain’s $100 billion projection for Shiba Inu by 54.64%.

At a $154.64 billion market cap, SHIB’s price would reach $0.0002624, setting a new all-time high. At that price, 100 million SHIB tokens bought today for $1,172 would be worth $26,240, representing an ROI of approximately $25,000