With the Shiba Inu (SHIB) community implementing several initiatives to increase the meme coin’s utility, a cryptocurrency trading expert has made a bold prediction regarding the token’s market capitalization.
Particularly, crypto expert Casey Stubbs projected in an X post on June 16 that Shiba Inu will likely experience an inflow of capital, potentially elevating the token’s market cap to $1 trillion. This projection is anchored on the anticipated impact of Shiba Inu’s layer-2 scaling solution, Shibarium.
“I am envisioning a day where there are thousands of SHIB and BONEpairs trading on shibarium with billions of dollars worth of transactions daily and trillion dollar market cap,” he said.
SHIB seven-day price chart. Source: Finbold
Throughout the week, SHIB has displayed significant volatility, with the price hovering around the $0.000020 mark, which appears to be a support level. This level could be a critical psychological threshold for traders, with an initial weekly high of around $0.00002319 as a resistance level.
If the $0.000020 support level holds, SHIB may stabilize or attempt a rebound. However, a breach of this support level could lead to further declines.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Like (147)Share
