Forget Dogecoin, Shiba Inu Set To Become The Top Dog: Expert Predicts $100 Billion Market Cap
17 Março 2024 - 6:30AM
NEWSBTC
Shiba Inu, the meme coin sensation, is making headlines once again.
With its sights set on a major achievement – a staggering $100
billion market cap – Shiba Inu has captured the attention of the
crypto community. This audacious ambition has been fueled by data
from IntoTheBlock, shedding light on the coin’s potential.
Additionally, renowned investor Jake Gagain has made a bold
prediction, further igniting excitement within the crypto
community. Related Reading: Crypto Carnage: Over $800 Million Wiped
Out In Market Plunge $SHIB Will Be The First 100 Billion MC
Memecoin. pic.twitter.com/YogeSb2E7q — JAKE (@JakeGagain) March 15,
2024 Shiba Inu: Growing Interest, Volatile Trading According to
analysis from IntoTheBlock, SHIB has witnessed a surge in the
number of addresses holding the token. This surge indicates a
growing interest and adoption of Shiba Inu among retail investors,
who are eager to partake in the meme coin revolution. Moreover,
there has been a notable increase in the number of large
transactions involving Shiba Inu tokens, suggesting institutional
investors and whales are actively engaging with the coin. SHIB
market cap currently at $14.5 billion. Source: CoinMarketCap
IntoTheBlock’s data reveals a concentration of wealth among the top
holders of Shiba Inu. Approximately 50% of the total supply is held
by the top 100 addresses, indicating the potential influence these
large holders may have on the market dynamics and price movements
of Shiba Inu. This concentration of wealth can play a significant
role in shaping the future trajectory of the coin. Total crypto
market cap is currently at $2.4 trillion. Chart: TradingView
Trading activity surrounding the memecoin has also been a focal
point of the analysis. The data highlights the volatility of Shiba
Inu’s trading volume, with periods of intense fluctuations followed
by relative stability. This volatility can be attributed to various
factors, including market sentiment, news events, and overall
market conditions. SHIB $100 Billion Milestone In the midst of this
excitement, renowned investor Jake Gagain has made a bold
prediction: He firmly believes that Shiba Inu has the potential to
surpass Dogecoin and reach a remarkable $100 billion market cap.
This prediction has sparked both enthusiasm and skepticism, as the
rivalry between Shiba Inu and Dogecoin intensifies. SHIB 30-day
price action. Source: CoinMarketCap Taking all these factors into
account, the journey towards the billion-dollar market cap for
Shiba Inu is not without its challenges. While the recent surge in
market cap and the accumulation by large holders are positive
indicators, the volatility and concentration of wealth present
potential risks that need to be navigated. Related Reading: Bitcoin
Crashes: Dip To $65,000 Triggers Over $400 Million Liquidation
Avalanche Nevertheless, the resilience and determination exhibited
by the memecoin, coupled with the growing interest from retail and
institutional investors, provide a strong foundation for its
pursuit of the $100 billion milestone. Shiba Inu’s quest for a $100
billion market cap represents a paradigm shift in the world of meme
coins. Backed by data from IntoTheBlock, which highlights growing
adoption, concentration of wealth, and trading activity, as well as
the bold prediction from Jake Gagain, SHIB has positioned itself as
a formidable contender in the cryptoverse. Featured image from
Pixabay, chart from TradingView
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