The price of Dogecoin could soar by over 7,500% in the hypothetical scenario where Shiba Inu attains a trillion-dollar market cap.
Recently, there have been discussions about meme coins reaching $1 trillion valuations in the crypto community. Shiba Inu and Dogecoin have been at the forefront of these conversations, given that they are the most prominent crypto assets in the meme coin sector.
Remarkably, even Shiba Inu’s lead developer, Shytoshi Kusama, has recently argued that SHIB could attain a $1 trillion market cap. In his view, this development would surprise doubters and critics.
In light of this ambition, The Crypto Basic assesses the potential market price of Dogecoin should its closest rival, Shiba Inu, break the $1 trillion cap.
Shiba Inu Price with a $1T Market Cap
Notably, Shiba Inu currently has a market cap of $13 billion, corresponding to a unit price of $0.000022. To reach $1 trillion, its market price would need to increase by approximately 7,592%. Specifically, this $1 trillion market cap would correspond to a unit price of $0.001698 for Shiba Inu.
If Shiba Inu could reach this lofty height, what would be the state of its senior rival, Dogecoin?
Dogecoin Price if Shiba Inu Market Cap Hits $1T
To estimate Dogecoin’s market cap if SHIB’s market cap reaches $1 trillion, we can assume a proportional relationship between Dogecoin and SHIB. This means that if SHIB’s market cap grows by a certain factor, Dogecoin’s market cap would also change proportionally.
Notably, Dogecoin currently boasts a market cap of $52 billion, trading at $0.35. With SHIB’s market cap at $12 billion, Dogecoin is more than four times larger than Shiba Inu.
Should the price of SHIB increase by 7,592% to reach a $1 trillion market cap, a similar surge would drive Dogecoin’s valuation from $58 billion to $4.46 trillion. With a circulating supply of 147.68 billion, a $4.46 trillion market cap would elevate Dogecoin’s price to $30.18.
When Can SHIB and DOGE Reach a Trillion-Dollar Cap?
Interestingly, numerous market commentators have argued that Dogecoin could reach $30 in this current cycle. Some have even issued a bold five-month timeline. Those voicing this ambitious outlook often rely on Dogecoin’s historical performance during the last two bull seasons.
However, analysts at Telegaon argue that reaching a $30 price with a $4.5 trillion market cap will take ten years to materialize.
Meanwhile, arguments for Shiba Inu reaching a $1 trillion market cap this season are rare. Analysts mostly argue for a $100 billion cap in the current cycle.
However, Telegaon analysts also predict it would take Shiba Inu ten years to reach the $0.00169 price that would necessitate a $1 trillion market cap.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
