The Future of Shiba Inu: Projected Price Surge Tied to Bitcoin’s Rise
Article
Renowned experts predict that Shiba Inu (SHIB) could see price increases to $0.003, $0.0001015, $0.0001, and $0.0003117 if Bitcoin reaches $150,000, $325,000, $500,000, and $1 million, respectively.
Bitcoin’s influence on the broader cryptocurrency market remains significant. Recent declines in Bitcoin have led to notable drops across the market, with tokens like SHIB experiencing substantial losses. Despite this downturn, leading experts remain confident that Bitcoin is poised for a significant rally soon. Some market observers anticipate Bitcoin’s price will soar to $150,000, $325,000, $500,000, and even $1 million.
Interestingly, the consensus is that if Bitcoin achieves these levels, its correlation with Shiba Inu could drive similar price gains for the meme coin.
Shiba Inu’s Relationship with Bitcoin
It’s well established that Bitcoin’s price movements influence other cryptocurrencies, including SHIB. Crypto Basic recently reported a strong correlation between Shiba Inu and Bitcoin prices. Data from IntoTheBlock shows Shiba Inu has had an 85% correlation with Bitcoin over the past 30 days. This means SHIB’s price has closely followed Bitcoin’s movements. As of the report, SHIB’s price had dropped by 4.97% over the past week, while Bitcoin’s price fell by 5.27% in the same period.
Given the close correlation between Shiba Inu and Bitcoin, analysts expect significant rises in SHIB if Bitcoin reaches the predicted prices of $150,000, $325,000, $500,000, and $1 million.
SHIB Price at Bitcoin’s Milestones
If Bitcoin Reaches $150,000
According to a leading trader at Wizard Crypto, Bitcoin could hit the $150,000 mark during the peak of a bullish market cycle. This prediction aligns with other forecasts expecting Bitcoin to reach $150,000 by year-end. Wizard Crypto projects SHIB could trade at $0.003 if Bitcoin hits this target, representing a 34,905% increase from its current price of $0.00001714.
If Bitcoin Reaches $325,000
Asset manager VanEck has predicted that Bitcoin could climb to $325,000. This forecast also includes Ethereum (ETH) rising to $22,000. With Bitcoin and Ethereum currently trading at $61,738 and $3,460, respectively, VanEck’s projections imply increases of 426.4% and 536.5%. Given SHIB’s 85% and 94% correlation with Bitcoin and Ethereum, Crypto Basic estimates SHIB could rise to $0.0001015, a significant jump from its current price of $0.00001747.
If Bitcoin Reaches $500,000
Bloomberg previously forecasted that Bitcoin’s rise to $42,000 earlier this year could signal the start of a bull run that might take it to $500,000. Using insights from AI chatbots Google Bard (now Gemini) and ChatGPT, estimates for SHIB’s price at Bitcoin’s $500,000 mark range from $0.0001 to $0.01. Achieving these targets would require SHIB to increase by 58,243%, 5,743%, and 483.43%, respectively, from its current price of $0.00001714.
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If Bitcoin Reaches $1 Million
Bernstein, a leading asset manager, has predicted Bitcoin could skyrocket to $1 million by 2033. Based on SHIB’s correlation with Bitcoin, Crypto Basic applied Bitcoin’s projected growth rate of 1,409% to SHIB, estimating its price could rise to $0.0003117 if Bitcoin hits $1 million.
Important Notice: The content presented in this article is intended for informational purposes only and should not be interpreted as financial advice. Coinshibainu.com bears no responsibility for any investment decisions made relying on the information contained herein. It is highly recommended to consult with a qualified expert or financial advisor before making any investment decisions.
