Carl “The Moon,” a prominent UAE-based crypto investor with 1.4 million followers on X, recently shared his ambitious outlook for Shiba Inu (SHIB).
In a recent job on $50. A major factor influencing this outlook is SHIB’s historical performance, particularly in 2021.
Carl expects Shiba Inu to repeat himself its past performances. According to him, if the asset quickly gains upward momentum, it could arise towards the $0.50 mark.
The community reacts
Carl’s post quickly gained traction, with the crypto community debating the implications of such a bold prediction for Shiba Inu.
Some analysts, like Ether NasyonaL, have questioned the feasibility of a Shiba Inu hitting $0.50, while others, like Sweep, have expressed strong belief in Carl’s prediction.
On the other hand, some critics have suggested that waiting Shiba Inu will hit $0.50 This amounts to holding the asset until it reaches zero, implying that they see no future for the meme token. Essentially, market reactions to Carl’s $0.50 SHIB price target have been mixed.
What $0.50 Shiba Inu Means
As a reminder, Shiba Inu is currently trading at $0.00002541, with four leading zeros. Essentially, Carl projects a future in which Shiba Inu no longer has leading zeros and is worth half a dollar.
To reach this milestone, SHIB would need to increase in value by almost 20,000 times, or 1,967,629%.
For example, an investor who invests $100 in SHIB today could see their portfolio grow to $1,967,629 in a hypothetical future, where the value of SHIB reaches $0.50.
Consequently, the current Shiba Inu millionaires could see their status elevated to the rank of SHIB billionaires. Additionally, at a price of $0.50, Shiba Inu would have a staggering market capitalization of around $294.5 trillion. This projection assumes that the circulating supply of SHIB remains constant, without significant burns.
Assuming that Shiba Inu alone can reach a market cap of $294.5 trillion, this raises the question of what the market caps of Bitcoin and other major cryptocurrencies might look like in comparison. Interesting factdespite its ambitious nature, prediction platforms like Telegaon have set a target for 2050 Shiba Inu will potentially reach $0.50.
DisClamier: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.