Shiba Inu (SHIB ($0.00)) has closely mirrored Bitcoin’s movements recently, sparking new predictions about where SHIB could go if Bitcoin achieves Ark Invest’s bold $2.4 million target. With a strong correlation between the two assets, SHIB’s trajectory could mirror Bitcoin’s bullish surge, rewarding patient investors handsomely.

Shiba Inu Strongly Correlates with Bitcoin’s Movements

Recent data from the blockchain analytics platform IntoTheBlock reveals that Shiba Inu maintains an 82% correlation with Bitcoin over a 30-day period. This strong link suggests Bitcoin’s price fluctuations heavily influence SHIB’s market behaviour.

As Bitcoin continues gaining traction, driven by institutional investments, inflation hedging, and potential nation-state adoption, SHIB’s price may rise in tandem. Many investors are now asking: if Bitcoin reaches Ark Invest’s ambitious $2.4 million target by 2030, how far could Shiba Inu climb?

Ark Invest Predicts Bitcoin’s Explosive Growth by 2030

Last week, Ark Invest updated its Bitcoin price forecast, presenting three possible 2030 scenarios:

• Bear Case: $500,000
  
• Base Case: $1.2 million
  
• Bull Case: $2.4 million
  

Currently, Bitcoin trades around $94,687. If it reaches $2.4 million, this would represent a staggering 2,434% increase. Ark Invest attributes this potential growth to increasing adoption through spot ETFs, Bitcoin’s emerging role as a treasury reserve asset, and companies adding Bitcoin to their balance sheets.

With these projections in mind, investors naturally wonder what impact a Bitcoin rally would have on correlated altcoins, such as Shiba Inu.

Projecting Shiba Inu’s Price If Bitcoin Hits $2.4M

At the time of writing, SHIB trades at $0.00001399, having gained 1.01% over the past 24 hours. Its market capitalisation stands at $8.24 billion.

If SHIB matches Bitcoin’s potential 2,434% surge, its price would jump to approximately $0.0003737. At this level, Shiba Inu’s valuation would soar to around $220.2 billion, assuming the circulating supply remains stable.

For perspective, a holder of 100 million SHIB tokens, currently worth around $1,475, could see their portfolio grow to $37,370 if this scenario materialises.

When Could Shiba Inu Reach $0.0003737?

Ark Invest’s bullish timeline targets 2030 for Bitcoin’s climb to $2.4 million. Thus, if SHIB mirrors Bitcoin’s rally, it could reach $0.0003737 within the same year.

However, alternative forecasts provide slightly different timelines:

• Changelly’s analysis predicts SHIB could hit $0.00037 by January 2033.
  
• Telegaon expects Shiba Inu to achieve this price by 2029, slightly ahead of Ark’s timeline.
  
• Other analyses suggest SHIB could climb to $0.00037 even earlier if Dogecoin, the original memecoin, rallies to $5.
  

Despite these optimistic projections, it’s important to remember that these forecasts are purely hypothetical. Crypto markets remain highly volatile, and there are no guarantees that Bitcoin will reach $2.4 million or that SHIB will experience proportional growth.

Related article: 538 Trillion SHIB Tokens Block Price Surge: Can Shiba Inu Break the Wall?

Shiba Inu’s Recent Strength Hints at Bigger Potential

Even without a Bitcoin supercycle, Shiba Inu often outperforms Bitcoin during rallies. Over the past 24 hours, while Bitcoin gained 0.61%, SHIB surged 1.58%, underlining its higher beta and greater volatility.

If history repeats itself, and if the crypto bull market accelerates over the coming years, SHIB may not just follow Bitcoin’s path, it could outperform it.

While no forecast is guaranteed, Shiba Inu’s close correlation with Bitcoin makes it a token to watch closely. If Ark Invest’s $2.4 million Bitcoin prediction plays out, and if SHIB mirrors even a fraction of that growth, today’s prices could represent an extraordinary buying opportunity for long-term holders.

Nonetheless, investors should exercise caution, diversify their portfolios, and avoid relying solely on hypothetical models when making decisions in the unpredictable crypto landscape.

The post Shiba Inu’s Future if Bitcoin Hits $2.4M: Could SHIB Reach $0.00037? appeared first on FXcrypto News.