Considering that Shiba Inu and Dogecoin are the largest meme coins by market cap, the price of Shiba Inu closely follows that of Dogecoin. This has sparked discussions about what the price would be if SHIB reached Dogecoin’s market cap.
What would the price of Shiba Inu be if it reached Dogecoin’s market cap?
MarketCapOf data shows that if Dogecoin's market cap is $28.7 billion, then the price of Shiba Inu would be $0.00004883. If Shiba Inu rises to $0.00004883, it would mean an increase of over 250% from its current level. SHIB’s current market cap is $11.1 billion, which is 0.39 times lower than DOGE.
However, it is worth mentioning that the price of Shiba Inu once reached the target of $0.00004883, as its current all-time high (ATH) is $0.00008845. Considering that billions of SHIB tokens have been burned since then, if Shiba Inu reaches $0.00004883 or even rises to its current ATH of $0.00008845, its market cap would be even larger now.
Interestingly, the situation with Dogecoin is the opposite; it is inflationary. Therefore, even if Dogecoin reaches its current historical high of $0.73, its market cap would be lower. In 2021, this most important meme coin soared to a historical high, with a market cap of $80 billion. However, Dogecoin now has a market cap of $80 billion, and its price is only $0.5.
Meanwhile, the price of Shiba Inu reaching Dogecoin’s market cap would make SHIB the eighth largest token in the market, which is also DOGE's current ranking.
SHIB will soon break this target.
The price of Shiba Inu will soon break the target of $0.00004883. This is based on the analysis of cryptocurrency analyst Javon Mark, who predicts the price will rise to SHIB's current ATH. In an X post, he noted that Shiba Inu still shows a considerable divergence from the confirmed hidden bull market and has already broken out.
In line with this, the analyst stated that the price of Shiba Inu may be preparing to move towards the target of $0.000081 at the 'next level'. He also hinted that the ongoing Bitcoin bull market may be playing a role in triggering this price increase. In fact, considering their price correlation, a rise in Bitcoin's price could promote an increase in Shiba Inu.
IntoTheBlock data shows that the price of Shiba Inu has a correlation of 0.54 with Bitcoin, indicating a positive price correlation. Given the optimistic price prospects for Shiba Inu, Javon Marks believes SHIB is about to rise 300% to the current highest level.
According to CoinMarketCap data, at the time of writing, Shiba Inu is trading at approximately $0.000019, having risen over 2% in the past 24 hours.
