Shiba Inu Price at 92 Billion Market Cap What You Need to Know

Shiba Inu is expected to reach the $0.000159 mark if it manages to achieve a market cap of $92 billion, similar to Dogecoin’s peak valuation.
Recently, Moataz “Eljaboom” Elsayed, a well-known media personality and Bitcoin investor, shed light on the potential growth needed for various meme coins to reach Dogecoin’s all-time high market capitalization.
Dogecoin, the original meme coin, reached a market cap of over $90 billion in May 2021, thanks to a significant price surge that saw it hit an all-time high of $0.7316. This achievement was largely influenced by Tesla CEO and X CTO Elon Musk’s continuous support for Dogecoin.
Currently, DOGE is priced at $0.148, which is nearly 80% below its all-time high. Its market cap has also decreased significantly to $21.37 billion. Despite this decline, Dogecoin remains the largest meme coin, with other tokens like Shiba Inu experiencing similar drops.
Shiba Inu, the second-largest meme coin, aims to surpass Dogecoin in dominance. However, with a market cap of $14.14 billion, it would need to increase its valuation by $7.23 billion to compete with DOGE. This would require a substantial price surge.
Eljaboom’s analysis suggests that Shiba Inu’s market cap would need to grow by approximately 600% to reach Dogecoin’s $92 billion peak valuation. With a circulating supply of 589 trillion tokens, Shiba Inu’s price at a $92 billion market cap would be $0.0001561, representing a significant increase from its previous peak valuation of $41 billion.
While achieving this milestone may seem ambitious, crypto analyst Javon Marks previously predicted that Shiba Inu’s price could reach $0.00015. Other meme coins in the market, such as Pepe, WIF, Floki, Bonk, and BOME, would need even larger surges ranging from 2,300% to 12,100% to reach the $92 billion market cap.
Despite the progress made by these meme coins, they still have a long way to go before posing a threat to SHIB and DOGE. Shiba Inu, in particular, has a higher likelihood of surpassing Dogecoin in the future.
Please note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s views. Readers are advised to conduct their own research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.