As we see meme coins soaring to new heights, one of the popular meme coins, Shiba Inu (SHIB), has become popular with famous crypto investor Jake Gagain predicting that SHIB will rise to a market cap of $100 billion, making it the pioneer meme coin in his opinion to reach this milestone. It is reported that it will be positioned as .
Let’s examine the latest developments shaping SHIB’s trajectory and the factors affecting its market dynamics.
Analysis of Jake Gagain
Cryptocurrency investor Jake Gagain says he strongly believes the Shiba Inu has the potential to reach a market cap of $100 billion. X in the postsimply shared a prediction saying, “$SHIB Will Become the Top 100 Billion Memecoin with Market Cap”!
This market cap claim by Jake sparked strong debate among members of the crypto community about the growing importance of SHIB.
Market Analysis
The popular meme coin, Shiba Inu, struggled to keep its price above the $0.000027 threshold level. SHIB reached a peak of $0.000046 in 2024. Therefore, its decline from the high point to the low point is currently an opportunity for new entrants to consider market entry.
The flood of $35 million worth of SHIB onto exchanges last week contributed to a 40% drop in prices, leading strategic investors to see it as a viable entry point.
Some cryptocurrency investors took advantage of SHIB’s price fluctuations and transferred 1.2 trillion SHIB tokens to the exchange in 10 days.
According to reports, important developments for the Shiba Inu market system are on the horizon. Developed by Blockscout, “Shibariumscan” is the upcoming update to the Shibarium blockchain explorer that aims to improve the user experience and provide deeper insights for developers and users. Additionally, the mobile version of Shiba Eternity, the play-to-win (P2E) game for Shiba Inu, is also in progress.
For SHIB to reach a $100 billion market cap would require exponential growth, an increase of approximately 600% from its current $17 billion market cap. Despite the challenges ahead, the increase in SHIB’s massive transaction volume, which recently reached $420.11 million, shows that interest and activity in the token is increasing. However, the prices of meme coins are very volatile and may cause loss of your investments, so do your detailed research before making any transaction.
*This is not investment advice.
