- Shiba Inu (SHIB) might ascend to the top 5 cryptocurrencies during the next bull run, predicts crypto analyst Del Crypto.
- This jump would mean SHIB’s market cap surpassing $37 billion, a growth of nearly 698%.
Blockchain technology is setting the stage for new financial paradigms, and in this shift, Shiba Inu (SHIB) is a coin worth watching. Renowned crypto analyst Del Crypto has predicted that SHIB will catapult into the top 5 cryptocurrencies in the forthcoming bull market. Such a surge implies a market cap exceeding $37 billion for SHIB, representing a staggering growth of 697.93%.
Next bull run will see $SHIB return to the top 5 & $XRP return to the top 3.
— Del Crxpto (@DelCrxpto) July 26, 2023
The Potential Road to $37 Billion
To comprehend the magnitude of this leap, consider that a market cap of $37 billion would put the price of each SHIB token at approximately $0.0000630. This price doesn’t account for burned tokens and is about 26.8% above SHIB’s all-time high of $0.0008616.
With a $37 billion market cap, an investor would require around 15873015873 tokens to become a millionaire. Given the current prices, acquiring these tokens would require an investment close to $125,238.
Factors to Propel the Bull Run
In his analysis, Del Crypto didn’t just focus on SHIB. He noted that Ripple (XRP), following a positive turn of events, would re-enter the top 3 cryptocurrencies. XRP, recently ruled not a security, has seen multiple exchanges relist the token after the landmark ruling. Del Crypto posited that the upcoming Bitcoin halving would substantially contribute to the predicted market movements.
The halving is all we need…
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— Del Crxpto (@DelCrxpto) July 26, 2023
Beyond the broader market shifts, Shiba Inu’s future relies on its ambitious roadmap. If SHIB successfully launches its Layer-2 network as planned and it is well-received, we could see an exponential surge in demand for the token. This, along with a new burn mechanism, could push SHIB prices even further. While the network’s launch is speculated for August, an official date is yet to be announced.
Present Market State
As of now, the Shiba Inu’s price stands at $0.000007782, reflecting a 0.7% drop in value over the last 24 hours. The volatile nature of the crypto market adds a layer of unpredictability, causing SHIB to experience slower gains compared to other cryptocurrencies.
On another note, SHIB’s whale transactions have witnessed a 197% jump in just 24 hours, indicating heightened activity by large investors. Whales, or large investors, are considered a key metric for evaluating on-chain behaviour and market sentiment.
As we look toward the next crypto bull run, keep an eye on Shiba Inu. This meme coin, once dismissed as a novelty, may soon be one of the market’s top dogs.
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