Here’s the price of the Shiba Inu if it reaches a market cap of $92 billion

The Shiba Inu price will reach the threshold of $0.000159 if SHIB is able to reach a market capitalization of $92 billion, the maximum valuation ensured by Dogecoin (DOGE).

Media personality and Bitcoin investor Moataz “Eljaboom” Elsayed recently shed light on this reality while discussing the appreciation rate required for certain top meme coins in order to capture Dogecoin’s all-time highest market cap.

Dogecoin Dominance and Peak Market Cap

To recall, Dogecoin, the original meme coin, crossed the market capitalization of $90 billion in May 2021. This feat occurred following an impressive price rally, which saw the meme coin reach a price record $0.7316. Tesla CEO and X CTO Elon Musk has been a central figure in this journey, tirelessly declaring his support for Dogecoin.

Now, at its current price of $0.148, DOGE is 79.8% below the all-time high. Additionally, its market capitalization dropped significantly to $21.37 billion, according to market data provided by CoinGecko. Despite this collapse, Dogecoin retained its position as the largest coin as other tokens such as Shiba Inu saw comparable declines.

In particular, SHIB, the second largest coin, is looking to overtake Dogecoin as the dominant coin. However, with Shiba Inu’s market cap currently standing at $14.14 billion, it would need to capture an additional valuation of $7.23 billion to compete with DOGE. Such an increase in market capitalization would require a massive price spike.

Shiba Inu priced at $92 billion market cap

Nonetheless, Eljaboom’s assessment raises the prospect of a larger price rise. Notably, the Bitcoin supporter pointed out that Shiba Inu market capitalization it would need to rise by around 600% to be able to claim Dogecoin’s peak valuation of $92 billion.

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Assuming the circulating supply of SHIB remains stable at 589 trillion tokens, the price of Shiba Inu at a market cap of $92 billion would reach $0.0001561. The market cap of $92 billion would represent a 123% increase from Shiba Inu’s peak valuation of $41 billion, reached in October 2021.

This height would mark a new record value for Shiba Inu, as well as a new maximum stock market valuation. Although the amount of $0.0001561 may seem ambitious, crypto analyst Javon Marks previously predicted that the Shiba Inu price could reach the $0.00015 price level.

Meanwhile, Eljaboom also confirmed that other tokens in the meme coin market would require a more substantial increase to reach the $92 billion valuation. For example, Pepe, the frog-themed meme sensation, needs to rise 2,300% to reach that market cap. Additionally, dogwifhat (WIF) and Floki would need peaks of 3,500% and 5,000%, respectively.

Additionally, Solana-based meme coins Bonk (BONK) and Book of Meme (BOME) are expected to increase by 6,000% and 12,100% respectively to reach the market cap of $92 billion. This assessment indicates that despite the rallies recorded by these new meme coins, they are still far from threatening SHIB and DOGE. Additionally, Shiba Inu has a higher chance of moving Dogecoin.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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