Here’s the Possible Shiba Inu Price If It Becomes a Top 5 Crypto by Market Cap

If SHIB becomes a top-five cryptocurrency by market cap, the impact on Shiba Inu’s price would be massive.

Shiba Inu (SHIB) has grown tremendously from its humble beginnings to become a strong contender for the top 10 list of largest crypto assets by market cap. The first time the meme coin entered this coveted list was during the 2021 bull run, as it outperformed the entire market to deliver massive gains to investors.

SHIB’s Struggles at Top 10

However, during the bear market, exacerbated by the Terra and FTX implosions, SHIB dropped below the top 10. As the market recovered slightly last year, Shiba Inu’s impressive rally allowed it to reclaim a top 10 spot in May, flipping Cardano (ADA) to become the tenth-largest asset with a market cap of $16 billion.

Nonetheless, the asset has since relinquished this position, now sitting at the 18th spot among the largest crypto assets, with a valuation of $8.7 billion. This is because SHIB failed to rally as much as the rest of the market during the Donald Trump-led market-wide upsurge.

Despite this, some believe Shiba Inu has the potential to reclaim its lofty position, with projections of a massive rebound dominating the scene. Interestingly, lead developer Shytoshi Kusama suggested last November that his vision is to take SHIB to not just the top 10 list of largest crypto assets but the top 5. 

According to Kusama, this goal could be realized within the next five years. Notably, the ecosystem team has persistently championed developments to boost Shiba Inu’s utility, including Shibarium, SHIB Metaverse ,and others. 

Shiba Inu Price if It Enters Top 5

But what implications would it hold for its price if SHIB became a top 5 crypto asset especially considering current market valuations? Currently, Binance Coin (BNB) holds the fifth spot on the market cap rankings, boasting a valuation of $89 billion. 

For Shiba Inu to enter the top 5 list, it must first displace BNB from its current position. To do this, the asset would need to claim the $89 billion market cap, which would mark its highest valuation. For context, Shiba Inu’s highest market cap was $43.5 billion, according to CoinMarketCap, attained in October 2021.

If SHIB reaches an $89 billion market cap, this will translate to a price of $0.0001509 for the meme coin, considering its circulating supply of 589 trillion tokens. This represents a new all-time high. With Shiba Inu currently trading for $0.00001391, reaching the $0.0001509 price would require a 912% increase.

Interestingly, several analysts have projected a price spike to the $0.00015 region for SHIB. For instance, last July, market watcher Javon Marks predicted a Shiba Inu rise to $0.00015, as SHIB maintained a position above a resisting trendline. Also, in September 2024, another analyst Dexter set a long-term target of $0.00015 for SHIB.