During the bull run of 2021, Shiba Inu (SHIB) had one of the most phenomenal runs. Since the asset’s peak in 2021, its price has been declining. Supporters and investors of SHIB remain unfazed by the asset’s subpar performance and are still pursuing higher prices and a bigger market capitalization.
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SHIB currently has a market cap of $10.3 billion, making it the 13th largest crypto project. If SHIB’s market cap is to reach $100 billion, it will need to grow by 870.87%. Given that there are about 589 trillion SHIB tokens in circulation, if SHIB’s market cap reaches $100 billion, the price of each SHIB token would be $0.000169.
When can Shiba Inu’s market cap hit $100 billion?
SHIB is going through a slump right now, but the asset has a lot of potential for another 2021-like explosive rally. For SHIB to rally like it did in 2021, a few things need to happen.
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One of the biggest catalysts for SHIB’s 2021 rally was Vitalik Buterin‘s massive burn. Buterin received half of SHIB’s supply upon launch and decided to burn 90% of the tokens he received. A similar burn initiative may significantly impact SHIB’s price.
Burns alone will not push SHIB’s price, as pointed out by lead developer Shytoshi Kusama. Burns need to go hand in hand with high adoption for prices to rally.
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Another factor that will push Shiba Inu’s price is a general positive market sentiment. In 2021, most major crypto projects were hitting all-time highs. This set the stage for assets like SHIB to also rally. Investors were taking risks with newer and smaller projects.
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