Shiba Inu (SHIB) quickly rose to the top of the rankings and is currently the 13th largest cryptocurrency project by market capitalization, valued at approximately $15.85 billion. SHIB is also one of the most popular cryptocurrency projects on the market. The performance of this asset during the 2021 bull market solidified its millionaire status. SHIB's price rose millions of percentage points in 2021, making early investors millionaires.
If Shiba Inu's market cap equals Solana's, what would its price be?
Solana (SOL) has a market cap of $103.95 billion. Assuming SHIB's market cap reaches $103.95 billion with a circulating supply still at 589 trillion, the price per SHIB token would reach $0.000176 ($105.95 billion divided by 589 trillion). Achieving $0.000176 from the current price level would result in an approximate 554% increase.
If SHIB's circulation decreases, the asset's price could be far above $0.000176. While a rise of 554% seems significant, this is not something SHIB has not done before.
When will the asset reach $0.000176?
According to Changelly analysts, Shiba Inu (SHIB) could reach the $0.000176 mark in July 2030 (about five and a half years from now).
Telegaon analysts are more optimistic about SHIB than Changelly. The platform expects the asset to reach $0.000176 sometime in 2027. The platform predicts that SHIB's highest trading price will reach $0.000198 in 2027.
One of the biggest obstacles to SHIB's price is its massive supply. If the team significantly reduces the project's supply, we may reach $0.000176 sooner than expected.
One of the most important catalysts for SHIB's astonishing rise in 2021 was Vitalik Buterin's token burn. The Ethereum co-founder received half of the token supply when SHIB launched. Buterin decided to burn 90% of the tokens he received. If the team can take similar actions, we might see another rise like in 2021.