- Shiba Inu could see its market capitalization expand to $80 billion in Q1 2025
- When memecoins rally, it is short but intense – Be ready to take profits
Shiba Inu [SHIB] has a strongly bullish outlook for the next 6-9 months, and potentially longer based on the length of Bitcoin’s [BTC] bull run. In the past two cycles, the focus on the crypto sphere started with Bitcoin, but it soon began to shift to alts.
In 2017, it went to ICOs and token sales. And, in 2021, DeFi tokens and NFT assets grabbed the public’s attention. Will this bull run be the one for the memecoin supercycle? Well, Murad Mahmudov’s speech at the TOKEN2049 Conference emphatically made the case for this phenomenon.
Can Shiba Inu catch up to Dogecoin?
Source: DOGE/USDT on TradingView
Dogecoin [DOGE], at press time, had an impressive $65 billion market cap, standing 7th on CoinMarketCap’s rankings. It went from $500 million in market cap in December 2020 to $84 billion just six months later. This nearly-200x rally inspired many new memecoins, with Shiba Inu being one of them.
Now, there are hundreds of memecoins as competition now. Even with more capital in the market, SHIB could struggle to match DOGE’s gains.
As always, it is the top dogs that draw the public’s attention and money. DOGE, SHIB, and Pepe [PEPE] could be the top performers this time.
