Here Are Predicted Timelines for Shiba Inu to Reach Market Cap of Dogecoin

Many analysts are keenly observing when Shiba Inu (SHIB) might rival Dogecoin (DOGE) in market capitalization. Since its inception in August 2020, SHIB has been dubbed the “Dogecoin Killer” by investors, fueled by the belief that it could eventually surpass DOGE and become the dominant meme coin.

Interestingly, this briefly materialized. In October 2021, SHIB's market cap surged to $41 billion, temporarily eclipsing Dogecoin. However, the momentum was short-lived. The SHIB price corrected, and its value retreated below $10 billion. Since then, DOGE has maintained its leading position.

Currently, SHIB holds the #19 spot among the top cryptocurrencies, boasting a market cap of approximately $7.92 billion. This still positions it as the second-largest meme coin. Dogecoin, on the other hand, occupies the #8 position with a market cap of around $30.39 billion. Thus, SHIB has a considerable distance to cover if it aims to reclaim the meme coin throne.

To match Dogecoin's value, the SHIB price would need to increase by roughly 284% from its current level. This would translate to a price of approximately $0.00005155, assuming the total supply of 589.5 trillion SHIB remains constant. Even at this price, it would still fall short of SHIB's all-time high of $0.00008845.

Here Are Predicted Timelines for #ShibaInu to Reach Market Cap of #Dogecoin.

So, what are the projected timelines for this potential shift? Various platforms and experts offer diverse perspectives.

Some sources are optimistic. Telegaon anticipates that the SHIB price could reach $0.00005155 sometime in 2024. Changelly projects a later timeframe, potentially by November 2027. Analysts such as Bunchhieng and contributors to Forbes also suggest that SHIB could achieve this target within the current year, possibly even reaching $0.0001, marking a new all-time high.

Conversely, others maintain a more cautious outlook. CoinCodex predicts a significantly longer timeframe, estimating that the SHIB price will reach $0.00005155 in May 2040, potentially peaking at $0.00005377 that year.

While opinions vary, one consensus remains: the crypto community is closely monitoring SHIB's progress. Whether it reaches Dogecoin's market cap this year or in the distant future will likely hinge on prevailing market conditions, token burn mechanisms, and the extent to which the SHIB ecosystem can foster real-world utility.