Here is Shiba Inu Price if SHIB Hits Ethereum Market Cap

Shiba Inu (SHIB) could see its price skyrocket by more than 24 times if it grows to capture the current market cap of leading altcoin Ethereum (ETH).

Shiba Inu’s market cap has seen a drastic decline since the cryptocurrency collapsed from the $0.000045 high on March 5. At this peak price, SHIB’s market cap hit a high of $26.5 billion, putting it among the top 10 assets by valuation and bringing it closer to flipping Dogecoin (DOGE).

However, SHIB’s market cap has dropped to the current figure of $16.7 billion, representing a 37% drop from the recent high. Consequently, Shiba Inu has ceded its position within the top 10, descending to the 12th position as both Toncoin (TON) and Avalanche (AVAX) have surpassed it.

Despite the prevailing turbulence, Shiba Inu enthusiasts expect SHIB to eventually recover, with projections of a possible push above Dogecoin. Such a scenario would result in mind-blowing price gains for Shiba Inu. 

Shiba Inu Price if It Hits Ethereum Market Cap

Amid these sentiments, we assessed how much the price of Shiba Inu would be if it soared to hit the market cap of the king altcoin, Ethereum. ETH has solidified its spot as the largest altcoin in the market, boasting a market capitalization of $407.58 billion. 

Notably, Ethereum accounts for 15.8% of the global cryptocurrency market cap of $2.58 trillion. At the current valuation, Ethereum’s price currently sits at $3,388. We leveraged a data analytics tool to evaluate how much Shiba Inu’s price would be if it equaled ETH’s market cap.

The data indicates that Shiba Inu’s valuation is about 0.04x under Ethereum’s, emphasizing the massive gap between both assets. If SHIB captures Ethereum’s market cap, its price will skyrocket by as much as 24.36x to reach $0.0006898, representing a new ATH.

Interestingly, some analytical platforms have projected timelines for Shiba Inu to reach prices around this region. The Crypto Basic revealed in February that Changelly analysts expect SHIB to reach $0.000712 by 2030. At this price, Shiba Inu’s market cap would soar to $419.5 billion, above Ethereum.

SHIB’s Current Position

Notably, SHIB’s all-time high market cap was $43 billion, attained on Oct. 28, 2021, when Shiba Inu soared to its ATH price of $0.00008616, according to CoinGecko data. Shiba Inu would need to rally by another 206% to reclaim this all-time high price and slip into a price discovery phase.

The crypto market is already on a recovery path following the recent turmoil, with prices witnessing gradual growth over the last two days. Shiba Inu has leveraged this campaign to push toward reclaiming the $0.000028, $0.000029 and $0.000030 levels.

Amid a 2.6% rise over the past 24 hours, Shiba Inu currently trades for $0.00002810. SHIB has reclaimed $0.000028, but its position above this price level remains delicate. It attempted to push above $0.000029 earlier but faced stern opposition.