Shiba Inu (SHIB) is ranked as the 14th largest cryptocurrency with a current market capitalization of US$7.3 billion. The dream of the Shiba Inu worth US $ 10 billion can be achieved in 2023.
SHIB is undergoing a correction after surging nearly 77 percent since early January. Memecoins it reached an annual high of US$0.000015 in early February.
Since then, the price of SHIB has decreased and erased the gains made over the last 10 days.
SHIB reaped negative sentiment from investors after Shiba Swap developer, Shytoshi Kusama, announced via Telegram that there is no launch date for Shibarium yet.
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Shiba Inu’s Dreams Are Fantastic Value
Teacher Watcher reported, if SHIB’s market capitalization increases by 30 percent, the Shiba Inu’s dream of a US$10 billion valuation can be achieved this year.
This is not a mere figment, considering that SHIB is very volatile as memecoins and the price can increase at any time.
SHIB prices may strengthen following the inflation rate which decreased from 7.1 percent to 6.5 percent. If the US Consumer Price Index (CPI) report is positive, the asset market could rise pushing SHIB to new annual prices.
Because SHIB is a volatile crypto token, the profits that investors can get are greater compared to more stable crypto assets such as Bitcoin (BTC) and Ether (ETH).
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If SHIB starts to build positive momentum, the popular SHIB name can attract buying sentiment from investors thereby pushing SHIB’s market capitalization even stronger.
Additionally, SHIB has a strong support community that helps drive the growth and adoption of SHIB.
The overall crypto market cap was back above US$1 trillion in February 2023. If the crypto market continues its rally, the market cap could reach US$1.1 trillion and revive investor enthusiasm to invest.
Crypto price trends in February appeared to weaken as BTC slumped from US$24K to US$21K. Altcoins with large market capitalizations also appeared to weaken due to related concerns recession this year.
Currently SHIB is trading at a price of US$0.000012, down 5 percent in the last 24 hours. SHIB has plunged 85.6 percent from all-time high US$0.000086 which was reached in October 2021. [ed]
