If Shiba Inu doubles the market capitalization of Dogecoin, it could move close to surpassing its previous all-time high (ATH).
The rivalry between Shiba Inu and Dogecoin has elicited major discussions, with some users predicting that SHIB will flip DOGE to become the world’s largest meme coin by market cap. Notably, SHIB achieved this incredible milestone in October 2021 when it soared to an ATH of $0.00008845.
SHIB has plunged heavily from this level, currently down 85.62% from its previous ATH. Meanwhile, Shiba Inu continues to trail Dogecoin in the global meme coin ranking. While DOGE ranks in the top spot with a market cap of $25.25 billion, SHIB sits in the second position with a valuation of $7.5 billion.
Despite the wide gap, several Shiba Inu community members are confident that SHIB will flip DOGE again. Interestingly, some users have made bold predictions, noting that SHIB will overtake and double DOGE’s market cap.
Shiba Inu Price If It Doubles Dogecoin Market Cap
As this assertion gains momentum, The Crypto Basic analyzed how this feat could impact SHIB’s price should Shiba Inu double Dogecoin’s price.
Notably, Dogecoin has a market cap of $25.25 billion with a unit price of $0.1698. Shiba Inu has a market cap of $7.5 billion, putting its price at $0.00001272 per token.
Doubling Dogecoin’s market cap would translate to a significant uptick in Shiba Inu’s overall valuation. It will also position SHIB as the world’s largest meme coin, assuming DOGE does not experience similar growth.
Therefore, if Shiba Inu doubles Dogecoin’s market cap, its valuation will soar to $50.5 billion. This represents an increase of 573.33% from the current valuation of $7.5 billion. Such an astronomical surge is expected to have a significant effect on SHIB’s price.
At a market cap of $50.5 billion, SHIB would trade at $0.00008570 per token, assuming its circulating supply remains stable at 589.25 trillion. Despite this hefty surge, Shiba Inu would still be down 3.10% from its previous ATH of $0.00008845.
SHIB to $0.000085 Prediction
In the meantime, several analysts have projected Shiba Inu’s potential surge to the $0.000085 price mark. Last year, top market analyst Xanrox called investors’ attention to a buying opportunity around the Fibonacci 0.618 level, forecasting a surge to a target price of $0.00008588.
In June 2024, TradingView analyst Esmaei Baiki predicted a surge to the $0.000085 mark if it breaks out from a bull flag. Meanwhile, Changelly experts predict a potential timeline for SHIB to soar to the $0.000085 target.
According to Changelly experts, SHIB will clinch this target by November 2028, with Shiba Inu expected to trade at a maximum price of $0.0000858 by then.
The Telegaon prediction platform predicts that the $0.000085 target will become a reality by 2026. It projects that SHIB will hit a maximum target of $0.0000943 next year.
While Telegaon expects SHIB to hit the $0.000085 target as early as next year, the token may achieve this milestone earlier or much later than projected. Therefore, investors should not consider this article as financial advice.
However, several factors, such as widespread SHIB adoption and other positive ecosystem developments like increased SHIB burns, could pave the way for Shiba Inu’s recapture of the $0.000085 target.
