Crypto expert predicts SHIB to hit $1 trillion market cap

With the Shiba Inu (SHIB) community implementing several initiatives to increase the meme coin’s utility, a cryptocurrency trading expert has made a bold prediction regarding the token’s market capitalization.

Particularly, crypto expert Casey Stubbs projected in an X post on June 16 that Shiba Inu will likely experience an inflow of capital, potentially elevating the token’s market cap to $1 trillion. This projection is anchored on the anticipated impact of Shiba Inu’s layer-2 scaling solution, Shibarium.

“I am envisioning a day where there are thousands of SHIB and BONEpairs trading on shibarium with billions of dollars worth of transactions daily and trillion dollar market cap,” he said.

SHIB seven-day price chart. Source: Finbold

Throughout the week, SHIB has displayed significant volatility, with the price hovering around the $0.000020 mark, which appears to be a support level. This level could be a critical psychological threshold for traders, with an initial weekly high of around $0.00002319 as a resistance level.

If the $0.000020 support level holds, SHIB may stabilize or attempt a rebound. However, a breach of this support level could lead to further declines.

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