The possibility of Bitcoin reaching $4.87 million by 2040 is drawing attention not only for its implications on BTC itself but also for the potential impact on other digital assets. One such asset is Shiba Inu (SHIB), which has demonstrated a notable correlation with Bitcoin’s price action since its inception. If Bitcoin sees this predicted level of growth, Shiba Inu could also experience significant appreciation in value. SHIB and Bitcoin Price Action Correlation Recent data highlights Shiba Inu’s close alignment with Bitcoin in terms of price action. Over the past 30 days, the token has shown a correlation coefficient of 0.72 with Bitcoin, according to analytics from IntoTheBlock . In about 60 days, this correlation reached 0.86, indicating a stronger connection between the two cryptocurrencies. This high degree of correlation means Shiba Inu often mirrors Bitcoin’s market movements, sometimes with amplified effects. For example, a modest increase in Bitcoin’s price may result in a greater percentage gain for SHIB. Therefore, a dramatic increase in Bitcoin’s price could serve as a strong catalyst for Shiba Inu (SHIB). Projected Value of SHIB if Bitcoin Reaches $4.87 Million A recent forecast from analysts at cryptocurrency platform Changelly places Bitcoin’s average price at approximately $4.87 million by January 2040. This figure represents a 4,400% increase compared to its current price of around $105,000. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Using this projection as a benchmark, ChatGPT applied the same percentage increase to Shiba Inu’s current value. If SHIB were to follow a similar growth trajectory, its price could reach approximately $0.000632. With its circulating supply remaining at around 589.25 trillion, this implies a market capitalization of $372.4 billion, up from its current market cap of $8.27 billion. Additional Forecasts from Grok AI Another artificial intelligence model, Grok, incorporated predictions from various sources, such as CoinCodex, Changelly, Coinpedia Markets, and Telegaon, to develop a more comprehensive outlook for Shiba Inu by 2040. According to Grok’s analysis, SHIB may trade within a conservative range of $0.00001911 to $0.054 by 2040. The AI model also proposed a mid-range price forecast between $0.00002157 and $0.076, while offering a highly optimistic scenario in which Shiba Inu could trade between $0.0000310 and $0.089. These projections consider not only SHIB’s correlation with Bitcoin but also potential internal developments , such as token burns, growth within the ecosystem, and favourable market sentiment. Despite these promising forecasts, Grok emphasized the inherent volatility of the cryptocurrency market. While historical data and correlations provide useful insights, long-term predictions remain speculative and subject to numerous variables. Shiba Inu’s future may hinge significantly on both broader market conditions and its ecosystem developments. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Shiba Inu (SHIB) Likely Price if Bitcoin Hits $4.87 Million by 2040 appeared first on Times Tabloid .
