What Shiba Inu’s Price Could Be If It Reached Dogecoin’s Market Cap

What Would the Shiba Inu Price Be If It Reached Dogecoin’s Market Cap?

Shiba Inu (SHIB) and Dogecoin (DOGE) have long been seen as the two heavyweights of the meme coin world, with their prices often mirroring each other due to their shared status as top meme-based cryptocurrencies. This has led to some interesting musings in the crypto community about what Shiba Inu’s price would look like if it ever managed to reach the market cap of Dogecoin.

So, let’s break down the numbers and see what it could mean for SHIB.

Shiba Inu Price at Dogecoin’s Market Cap: A 250% Gain?

According to data from MarketCapOf, if Shiba Inu were to reach Dogecoin’s current market cap of $28.7 billion, its price would skyrocket to $0.00004883—a hefty gain of over 250% from where it sits today. Currently, SHIB is valued at around $0.000019 with a market cap of $11.1 billion, putting it approximately 0.39 times the size of DOGE’s market cap.

This kind of price movement would certainly attract a lot of attention. But it’s important to note that this price target is not entirely speculative. Shiba Inu has been there before: its all-time high (ATH) reached $0.00008845, well above the $0.00004883 target. However, SHIB has seen significant token burns since then, meaning that even if it reached its ATH again, its market cap would likely be larger than it was at the time.

A Closer Look at Dogecoin’s Inflationary Nature

While Shiba Inu is deflationary due to the token burns, Dogecoin operates on a different model. As an inflationary asset, Dogecoin’s supply continues to increase, meaning that even if DOGE reaches its ATH of $0.73, its market cap wouldn’t be the same as it was in 2021. Back then, Dogecoin hit a market cap of $80 billion during its rally to $0.73, but today, if DOGE reached the same price, its market cap would only be around $50 billion due to the increased circulating supply.

This stark contrast in supply dynamics between SHIB and DOGE only adds to the intrigue around SHIB’s potential upside. If SHIB were to hit DOGE’s market cap, it would instantly become the eighth-largest cryptocurrency by market cap—exactly where Dogecoin currently sits.

The Road to $0.00004883: Will SHIB Break the Barrier Soon?

According to crypto analyst Javon Mark, Shiba Inu could be gearing up for a move toward the $0.00004883 price target, and potentially beyond. Mark has pointed to the formation of a “Hidden Bull Divergence” on SHIB’s price chart, signaling that a price rally might be just around the corner. He also notes that SHIB has already broken out, positioning it for a move toward its current ATH of $0.00008845.

The timing couldn’t be better. As Bitcoin continues its bullish run, SHIB is likely to ride the coattails of the broader crypto market momentum. After all, there’s a strong 0.54 correlation between Bitcoin and Shiba Inu prices, according to IntoTheBlock data, suggesting that Bitcoin’s strength could contribute to a rally for SHIB.

Mark is optimistic about SHIB’s near-term prospects, forecasting a potential 300% rally back to its all-time high. With Bitcoin’s bull run likely to continue, SHIB investors may have reason to feel confident about a price surge.

A Quick Snapshot: Where Does SHIB Stand Right Now?

At the time of writing, Shiba Inu is trading at $0.000019, up 2% over the last 24 hours, according to CoinMarketCap. While it’s still a long way from reaching Dogecoin’s market cap, the current technical indicators and broader market sentiment suggest that SHIB could be on the verge of a breakout. If the meme coin rally picks up steam, expect Shiba Inu to take part in the ride, with the $0.00004883 target potentially on the horizon.

As always, investors should remain cautious—meme coins are notoriously volatile and driven by sentiment as much as fundamentals. But for now, Shiba Inu appears poised for its next move.