- Shiba Inu could see its market cap grow to $80 billion by the first quarter of 2025
- When memecoins rise, it is short but intense. Be prepared to take profits
Shiba Inu [SHIB] has a strongly bullish outlook for the next 6-9 months, and possibly longer based on Bitcoin’s length [BTC] running of the bulls. Over the past two cycles, the focus on the cryptosphere started with Bitcoin, but quickly started to shift to alts.
In 2017, it moved into ICOs and token sales. And in 2021, DeFi tokens and NFT assets captured the public’s attention. Will this bull run be the one for the memecoin super cycle? Well, Murad Mahmudov’s speech at the TOKEN2049 conference strongly advocated this phenomenon.
Can Shiba Inu Overtake Dogecoin?
Source: DOGE/USDT on TradingView
Dogecoin [DOGE]at the time of writing, it had an impressive market capitalization of $65 billion and was ranked seventh CoinMarketCaps rankings. Its market cap went from $500 million in December 2020 to $84 billion just six months later. This nearly 200x rally inspired many new memecoins, including Shiba Inu.
Now there are now hundreds of memecoins as competition. Even with more capital in the market, SHIB could struggle to match DOGE’s gains.
As always, it’s the top dogs that attract the public’s attention and money. DOGE, SHIB and Pepe [PEPE] could be the top performers this time.
Price forecast for 2025
Source: SHIB/USDT on TradingView
In the coming weeks, the most conservative targets for SHIB are $0.0000045 and the all-time high is $0.000086. The latter needs a 185% rally before it can be tested.
This could be a conservative goal. When memecoins pump, they are usually intense, but short. SHIB had one in the second half of 2021: a 1,639% pump in 50 days.
Is your portfolio green? Check out the Shiba Inu Profit Calculator
The first half of 2025 is likely to be strongly bullish and the all-time high could be tested in the next three to four months. In fact, Santiment’s data showed that network activity was well below Q4 2021 levels at the time of writing.
However, activity has started to recover in recent weeks. The number of daily active addresses was high, but network growth was inconsistent. The MVRV ratio was also only 39.25%, compared to 330% in October 2021.
Whether the price can reach multiples after setting a new ATH would be based on how fast Bitcoin can go. As things stand now, a Shiba Inu market cap of $80 billion by 2025 cannot be ruled out.
Disclaimer: The information presented does not constitute financial advice, investment advice, trading advice or any other form of advice and is solely the opinion of the writer