Shiba Inu (SHIB) vs. Ethereum: Analysts Explore Potential for 40x Gains

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Shiba Inu opened the July trading at $0.00001723.
A recent investment in SHIB could gain 40x by reaching Ethereum’s current level.
Ethereum’s market cap was $418 billion as of July 1.

TradingView data shows that Shiba Inu opened July trading at $0.00001723, and analysts comparing the meme coin to Ethereum have estimated the potential gain of a $1,000 investment in SHIB if Shiba Inu matches Ethereum’s current market cap.

Persistent bearish pressure has driven SHIB’s price lower in recent weeks. The meme coin bounced off a $0.00001660 local low on June 30 to open its July trading at $0.00001723. SHIB’s July opening price, which coincides with the June closing price, reflects a 34% drop in the meme coin’s value for June, having dropped from a $0.00002627 monthly high.

While trading at $0.00001733, Shiba Inu’s market cap hovered around $10.2 billion, with the meme coin’s proponents anticipating a significant rebound. Analysts projected the potential gains of an investor buying SHIB at the current price if Shiba Inu’s market cap reaches Ethereum’s current level.

Ethereum’s market cap was $418…

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