Shiba Inu (SHIB) price has taken a hit along with the broader crypto market, dropping around 10.5% to $0.00001652. Despite the dip, the popular meme coin still maintains a devoted following, with many investors eyeing its potential for massive gains. A prominent crypto analyst has made a bold prediction that SHIB could potentially see a staggering 44,000% rally, though certain conditions would need to be met for such an astronomical rise.

If Shiba Inu Were to Surge 44,000%

A former IBM blockchain team member and crypto analyst has suggested that Shiba Inu may be on the verge of a 44,000% bull run. The trader noted that SHIB’s initial price surge also saw a 44,000% upswing upon launch, setting a precedent for potential future performance.

The analyst believes this historical pattern could repeat if SHIB breaks out of its current consolidation phase. Should this prediction materialize, it would propel SHIB’s price to approximately $0.00726.

Meme Coins: Potential Leaders in the Next Crypto Cycle

Meme coins have garnered significant attention due to their strong community backing and viral nature. For example, Degen (DEGEN) recently secured a potential Coinbase listing alongside io.net (IO). The market’s reaction to this news highlights the power of community in the crypto space, with DEGEN skyrocketing over 100% in less than a day while IO dropped nearly 15%.

This stark contrast in performance underscores the unique appeal of meme coins and their potential to lead the market into the final stages of the current bull cycle. The combination of technical analysis and enthusiastic community support makes Shiba Inu a cryptocurrency worth watching closely.

Is $0.00726 a Realistic Target for SHIB?

While a 44,000% price increase is theoretically possible, it’s important to consider the practical implications. Such a surge would inflate Shiba Inu’s market cap to over $4 trillion, dwarfing the current total crypto market valuation.

For this scenario to play out, the entire cryptocurrency market would need to grow to an unprecedented $1 quadrillion, with Bitcoin reaching a price of roughly $27 million. These figures are currently unrealistic, given that the global money supply stands at about $89 trillion.

However, a significant increase in SHIB’s burn rate could potentially pave the way for substantial price growth without requiring such an enormous market cap. By reducing the circulating supply of SHIB tokens, each remaining token could theoretically increase in value without the total market cap reaching impossible levels.

It’s worth noting that according to the ShibBurn platform, the burn rate has recently decreased by 92% over the past 24 hours. For SHIB to achieve the predicted gains, this trend would need to reverse dramatically.

While a 44,000% price increase remains highly speculative, the crypto market has shown time and again that it can defy expectations. Investors should approach such predictions with caution and conduct thorough research before making any investment decisions.