When Could Shiba Inu (SHIB) Reach $100, $500, or Even $1000?

The meme cryptocurrency sector has frequently delivered dramatic, albeit unrealistic, gains for investors due to its extreme volatility. As favored by speculative traders, crypto enthusiasts often wonder if prominent assets like Shiba Inu (SHIB) could reach monumental price targets like $100, $500, or even $1,000.

Meme cryptocurrencies have offered traders dramatic, albeit unrealistic, gains in the cryptocurrency market. Known for its volatility, crypto enthusiasts often speculate on whether prominent assets like Shiba Inu (SHIB) could reach monumental price points like $100, $500, or even $1,000.

Shiba Inu? Surges 48% In 10 days, Could SHIB Price واقعيا Hit $100, $500 or $1000?

Shiba Inu price is currently boosting its market capitalization to $10.83 billion at a trading price of $0.000018, as indicated by the latest data from CoinGecko. This meme coin is still trading way below the $1 mark, and the prospect of it hitting $100 or higher would entail an astronomical surge in its market cap.

A rally to $100 would require SHIB’s market capitalization to cross $58.9 trillion, given its current circulating supply. This value is 25.28 times greater than the entire global cryptocurrency market, which stands at $2.33 Trillion.

Hence, achieving a price target of $100, $500, or $1000 would require a massive capital influx, which is unlikely in the coming years.

Check out the article on top meme coins to buy for a detailed analysis.

Realistic Target for SHIB

The Shiba Inu price on the daily chart seems to be forming an inverted head and shoulder pattern. The chart setup is characterized by three troughs, with the middle one extending lower than the other two.

This pattern is widely used to signal a major trend reversal and provides a target of the same length between the neckline and the bottom peak. As the crypto market suffered a 4.88% today, SHIB price seeks support at $0.000018.

If this support holds, buyers of the coin will drive an 11.6% surge to breach the pattern neckline resistance at $0.00002. A successful flip of overhead resistance into potential support will accelerate the bullish momentum and drive a 48% rally to hit $0.00002.

However, SHIB price could face prolonged consolidation in the coming months if sellers continue to defend the $0.00002 barrier.

For Major Breakouts, What’s Needed?

The Bitcoin price rise towards $70,000 has restone the Uptober sentiment in the crypto market. Along with broad market recovery, the following factors are necessary for Shiba Inu price to achieve the mentioned target.

Frequently Asked Questions (FAQs)

1. When could Shiba Inu realistically hit $100, $500, or $1,000?

2. What is the realistic price target for Shiba Inu in the near term?

3. How could broader market conditions affect Shiba Inu's price?

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