Analyst Aaron Arnold favorite meme coin Shiba InuHe thinks that it is not possible to reach 1 cent until next year. So what does the data indicate?
Arnold states that one of the biggest mistakes made by investors new to the cryptocurrency market is that they make predictions without considering the market value. When investors ignore this important element because they do not take into account the true value and growth potential of an asset, it can lead to major problems. As a result, investors may be disappointed by having unrealistic expectations. Market capitalization should be considered a critical factor to evaluate the overall performance of an asset.
The analyst gave Shiba Inu as an example for this view. In this context, he stated that some investors expect the meme coin to reach $0.01 and they expect this to happen soon. According to Arnold, some analysts, including novice investors, also make such predictions and stated that this is not possible. Arnold stated that he was not so optimistic. meme coinHe rejected the idea that it could reach $0.01 next year. Moreover, he considered it “literally impossible.”
However, Lucie from the SHIB team expressed her excitement about the potential of cryptocurrency and stated that she remains optimistic. Moreover, he stated that $0.01 levels for SHIB are not far away.
Shiba Inu’s $0.01 Dream
The current price of Shiba Inu is $0.00001734 and the number of tokens in circulation is around 589.27 trillion. This staggering supply brings the cryptocurrency’s market value to approximately $10.22 billion. However, if the price of the Shiba Inu miraculously reached $0.01, its market value would skyrocket to $5.893 trillion. This corresponds to an astronomical growth of 57,667%.
Arnold argues that, given SHIB’s market cap currently exceeding $10 billion, it is unrealistic to expect growth of 57,667% in just a 12-month period. He states that such huge growth does not comply with traditional market conditions and reveals the need for more cautious approaches and analysis.