TL;DR
- Shiba Inu’s (SHIB) price has been on a roll lately but one popular community member put his X account on the line that it could surge a lot more.
- Content creator Jake Gagain predicts SHIB’s market cap could reach $100 billion, pledging to leave X if the forecast fails.
What If?
The past month has been highly successful for the second-largest meme coin. Its price is up 35% for that period, reaching a local top of around $0.00002136 at the end of September, while currently, it trades at approximately $0.00001796.
Shiba Inu’s market capitalization hit a three-month high of over $12.5 billion on September 27. As of the moment, it stands at less than $11 billion.
One person predicting that SHIB’s market cap could explode to a whopping $100 billion sometime in the future is the popular content creator Jake Gagain. He even promised to delete his X account if the prediction fails.
$SHIB To 100 Billion Or I Delete My X Account.
— JAKE (@JakeGagain) October 17, 2024
It is worth mentioning that only three cryptocurrencies currently have a market cap exceeding $100 billion: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Shiba Inu reached a maximum capitalization (until now) of over $40 billion towards the end of 2021. Back then, the meme coin was one of crypto’s rock stars, amassing huge interest from investors and being at the forefront of gains.
It will be interesting to see whether Jake Gagain’s forecast will come true anytime soon. As of the moment, though, it seems quite challenging given that SHIB’s market cap needs to increase by almost ten-fold to see such levels.
Additional Forecasts
Another popular X user who weighed in with a somewhat ridiculous prediction is Davinci Jeremie. Earlier today (October 17), he forecasted that the market cap of the meme coin niche could hit $1 trillion. Currently, the entire capitalization of the cryptocurrency sector is around $2.4 trillion, with memes accounting for less than $60 billion of the total figure. Having that said, his target seems highly implausible (to say the least).
Davinci Jeremie is a prominent figure in the crypto world who is known for advocating Bitcoin. Over ten years ago, he encouraged people to invest as little as $1 in BTC, predicting a significant price increase in the future.
Earlier this year, he argued that Shiba Inu is a token investors should include in their portfolios.
