A crypto analyst has unveiled a new price target for Shiba Inu (SHIB) price, the second-largest meme coin by market cap. While highlighting Shiba Inu’s immense growth potential, the analyst placed a significant condition on his ambitious price forecast, stating that if Bitcoin reaches $3 million per coin, SHIB could rise to a multi-trillion dollar market cap.
Ambitious Price Target Set For Shiba Inu
In an X (formerly Twitter) video post on July 29, crypto analyst, Oscar Ramos shared his bullish expectations for Shiba Inu to his 54,000 followers. Shedding light on Shiba Inu’s robust community and strong market performance, Ramos predicts that the popular meme coin could potentially eliminate a few zeros to reach a new price of $0.02.
The analyst based his forecast on a recent prediction of Bitcoin made by MicroStrategy co-founder and former Chief Executive Officer (CEO), Michael Saylor. During the Bitcoin conference on July 27, Saylor shared his 2045 forecast, projecting that Bitcoin could surge as high as $3 million per coin in a bear-case scenario.
Gaining inspiration from Saylor’s astounding Bitcoin price prediction, Ramos revealed that Shiba Inu could also potentially benefit from this proposed bullish trend. Additionally, the analyst disclosed that in 2045, Shiba Inu could be one of the few relevant meme coins, standing out among other meme-based cryptocurrencies in the space.
During his post, Ramos shared two distinct scenarios illustrating how Shiba Inu could reach $0.02 in 2045. The analyst disclosed in the first scenario, that SHIB could reach Bitcoin’s current market capitalization of more than $1.37 trillion. This massive growth from its present market capitalization of $9.3 billion would effectively push the price of Shiba Inu to $0.0023, representing a 13,647.8% surge.
In the next scenario, Ramos noted that if Shiba Inu’s market capitalization reaches the current gold market cap of about $16 trillion, the meme coin’s price value could potentially skyrocket to $0.0271, marking an impressive 1,600X Return On Investment (ROI).
Acknowledging that the potential for Shiba Inu to reach a $0.02 price was uncertain, Ramos has urged investors to remain patient, underscoring his strong confidence in the meme coin’s future and growth potential. Additionally, Ramos indicated that a surge to $1 for Shiba Inu was highly unlikely at the moment, however a price increase to $0.02 seems more probable if the right conditions are met.
Insights On Saylor’s 2045 Bitcoin Price Projection
During the Bitcoin conference, Saylor revealed three ambitious price targets for Bitcoin, uncovering a bearish, base and bullish outlook on the cryptocurrency’s price in 2045.
The MicroStrategy co-founder disclosed that in a bear-case scenario, the price of one Bitcoin could surge to $3 million, propelled by a rise in its market capitalization to $68 trillion. He also revealed that in a base case scenario, Bitcoin’s market capitalization could reach an astounding $280 trillion, pushing its price to $13 million per coin.
Lastly, Saylor’s bullish scenario sees Bitcoin’s price reaching a market capitalization of over $1 quadrillion. He also predicted that during this time, the cryptocurrency’s price could potentially surge to $49 million per coin.
Featured image created with Dall.E, chart from Tradingview.com
