Shiba Inu: What would be the price of SHIB if its market cap equaled Ethereum?
Shiba Inu (SHIB) has performed well over the past few years. In just four years after its launch, the asset has climbed to the top 15 projects by market cap. While SHIB’s valuation has grown over the years, let’s see how high the price per token would be if the project’s market cap equaled Ethereum (ETH).
ETH’s market cap is close to $312 billion, while Shiba Inu (SHIB)’s market cap is around $8.05 billion. Assuming the number of SHIB tokens in circulation remains constant when SHIB’s market cap equals Ethereum, the price per token would be around $0.00052, a new all-time high. Reaching $0.00052 from current levels would represent an upside of nearly 3,679%.
If the number of SHIB tokens is reduced through burning, the price per token could be much higher than $0.00052.
According to Changelly analysts, the price of Shiba Inu (SHIB) could reach $0.00052 in 2031 (about seven years later). The platform predicts that the price of the asset will reach a maximum price of $0.0005419458 in 2031.
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The platform expects SHIB to break through the $0.0005 level in 2029 (about five years later). Telegaon predicts that SHIB will reach a maximum price of $0.000588 in 2029.
The Shiba Inu (SHIB) team is reportedly working on a new destruction mechanism that is rumored to destroy trillions of tokens per year.
If the team significantly reduces the supply of the asset, it may reach the $0.0005 target earlier than expected. The team has not yet announced the official release date of the upcoming destruction mechanism.
