Shytoshi Kusama, leader of Shiba Inu, recently acknowledged a bold prediction about the digital currency’s market value.
Kusama reposted a statement arguing that the second-largest meme coin could reach a market capitalization of $100 billion this cycle.
The post was shared alongside a GIF showing Robert Picardo of “Family Business” with the words “YOUR WORDS, NOT MINE.”
The current market position of Shiba Inu
Shiba Inu has been on a roller coaster ride this past week, gaining over 200% and vastly outperforming other major cryptocurrencies.
According to the latest data from IntoTheBlock, the current price of SHIB stands at $0.000035, registering an increase of 5.84% in the last 24 hours.
Surprisingly, 73% of SHIB holders make money at the current price, with a large concentration of holders at 73%. SHIB maintained a strong price correlation with Bitcoin at 0.79.
The composition of holders by length of holding shows a committed base, with 77% holding for over a year.
The path to $100 billion
Currently, only three cryptocurrencies boast a market capitalization above $100 billion: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
With SHIB currently valued at $15.3 billion, it is the 11th largest cryptocurrency, behind rivals such as Cardano (ADA) and Dogecoin (DOGE).
For SHIB to reach the illustrious $100 billion mark, it would need to see a huge increase in value.
Specifically, it is expected to appreciate by approximately 553%, an outcome that would require significant market demand and investor confidence to achieve.
