Shiba Inu’s potential price trajectories could see it reach $0.003, $0.0001015, $0.0001, and $0.0003117 if Bitcoin achieves respective values of $150,000, $325,000, $500,000, and $1 million, as projected by leading analysts.
Bitcoin continues to wield considerable influence over the broader cryptocurrency market. A recent downturn in Bitcoin’s value precipitated significant losses across the board, impacting tokens like SHIB.
Despite this setback, experts maintain optimism about Bitcoin’s impending bullish phase. Forecasts suggest Bitcoin could surge to $150,000, $325,000, $500,000, and even $1 million.
Interestingly, there’s a consensus that Shiba Inu’s fortunes could mirror Bitcoin’s if these projections materialize. This correlation underscores SHIB’s potential for substantial gains.
Correlation between Shiba Inu and Bitcoin
It’s widely acknowledged that Bitcoin’s price movements dictate the market performance of other cryptocurrencies, including SHIB. Data from IntoTheBlock reveals an 85% correlation between Shiba Inu and Bitcoin over the past month, indicating a strong synchronization in price actions.
As of the latest update, Shiba Inu has experienced a 4.97% decline over the past week, while Bitcoin saw a 5.27% dip over the same period.
Given SHIB’s close relationship with Bitcoin, analysts anticipate significant price increases for the meme-based token should Bitcoin achieve its projected milestones of $150,000, $325,000, $500,000, and $1 million.
Projected SHIB Prices Based on Bitcoin Milestones
At a Bitcoin price of $150,000, respected trader Wizard Crypto estimates SHIB could potentially reach $0.003. This prediction represents a remarkable 34,905% increase from its current price of $0.00001714.
If Bitcoin were to hit $325,000, as suggested by asset manager VanEck, projections indicate SHIB could rise to $0.0001015, marking a substantial increase from its current valuation of $0.00001747.
Should Bitcoin surge to $500,000, as speculated earlier this year by Bloomberg, SHIB might range between $0.0001 and $0.001, based on analyses from AI chatbots like Google Bard and ChatGPT.
Furthermore, if Bitcoin reaches $1 million by 2033, as forecasted by Bernstein, SHIB could potentially soar to $0.0003117, highlighting the significant growth potential aligned with Bitcoin’s trajectory.
Disclaimer: This article serves informational purposes only and should not be construed as financial advice. The opinions expressed herein are personal and may not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making investment decisions, as The Crypto Basic does not assume responsibility for any financial losses incurred.