Shiba Inu (SHIB) has had ample success in its 4-year history. The dog-themed crypto has quickly climbed the charts of the most significant projects by market cap. SHIB is currently the 22nd largest crypto project with a market cap of $7.14 billion.
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Shiba Inu Showing Signs Of A Recovery
The crypto market is showing signs of a slight recovery. Bitcoin (BTC) has reclaimed the $82,000 price level. The global crypto market cap has risen to $2.75 trillion. SHIB also follows the recovery trend. The asset is up 3.5% in the last 24 hours. Despite the latest rally, SHIB is down by 7.1% in the weekly charts, 15.1% in the 14-day charts, 23.7% in the monthly charts, and 62.8% since March 2024.
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The slight recovery could be due to investors buying the dip. Investor sentiment remains low. Global trade wars have taken a toll on investor confidence. Shiba Inu (SHIB) and other cryptocurrencies have faced significant hurdles lately.
What’s The Asset’s Price If Its Market Cap Equals Binance Coin?
Binance’s BNB has a market cap of about $81.46 billion and there are about 589 trillion SHIB tokens in circulation. If Shiba Inu’s (SHIB) market cap equals BNB’s, the price of each SHIB token would hit $0.0001383. Hitting $0.0001383 will mean a rally of about 1028.98% and a new all-time high for SHIB.
According to Changelly, SHIB could hit the $0.0001383 mark sometime in 2028. The platform anticipates SHIB to trade at a maximum price of $0.000179982 in 2028.
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There is also a possibility that SHIB will hit the $0.0001383 target much sooner. The SHIB team is reportedly working on a new burn mechanism. If the team can reduce the number of tokens in circulation, the asset could hit the desired target much sooner.
