Shiba Inu could rally to new heights if Bitcoin spikes to the $13 million price target set by MicroStrategy Chairman Michael Saylor.
In this Shib Price News, we will calculate the Shiba Inu price if BTC gains enough strength to jump to $13M.
Given Bitcoin’s position as the largest crypto with 56.8% market dominance, Bitcoin’s market condition has always influenced the broader market.
Data from CoinMarketCap confirms that Shiba Inu has followed Bitcoin’s movements over the past month. While this trend can be concerning during a Bitcoin collapse, it can also push SHIB to higher levels whenever the price of firstborn crypto records surges.
Shiba Inu and Bitcoin Correlation
Shiba Inu Price if Bitcoin Hits $13M
Interestingly, MicroStrategy Chairman and Bitcoin bull Michael Saylor expects this surge to materialize in the future. Particularly, the Bitcoin advocate recently predicted while speaking with CNBC’s Squawk Box that BTC could skyrocket to a price of $13 million by 2045, two decades from now.
However, Bitcoin has changed hands for $63,624 at the reporting time, having surged 10% over the past week. For the leading crypto asset to reach the ambitious $13 million price target, it would need to appreciate by 21,611% from its current level.
Shiba Inu is capable of replicating a similar upsurge if it continues to follow in Bitcoin’s footsteps. Notably, SHIB currently trades for $0.00001521, up 12.4% in the last seven days. If Shiba Inu rallies by a similar 21,611%, its price would skyrocket to $0.002954, essentially taking off two leading zeros.
Should such a price rally materialize, investors holding Shiba Inu would witness impressive yields. For instance, a $1,000 investment in Shiba Inu would procure 73,475,385 tokens at the current value. Nonetheless, if SHIB Rallies by 21,611% alongside Bitcoin, these SHIB holdings worth $1000 would surge to $217,046.
Despite the potential gains such a rally would bring, it is important to remain cautious when considering this projection. Notably, it remains to be seen if Bitcoin could reach the $13 million target. Also, should this ever occur, there is no certainty about how SHIB could react to the BTC price surge.