The cryptocurrency market is very volatile, and some recent meme coin developments have increased the excitement. Discussions have focused on some meme coins reaching high valuations, which has sparked interest in how Dogecoin’s price could be impacted if Shiba Inu hits a trillion-dollar market cap.
Shiba Inu’s lead developer Shytoshi Kusama said in a now-deleted post on X:
“SHIB could reach a $1 trillion market cap. This would surprise many critics.”
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Shiba Inu’s Path to a $1 Trillion Valuation
Shiba Inu, the “Dogecoin killer,” has an ambitious $1 trillion market cap goal, which might be doable. This has made a big impact in the crypto community, and nobody’s surprised. Shiba Inu’s developer, Shytoshi Kusama, is confident the coin can reach this milestone at some point in time. But some in the industry are still skeptical about this topic and how it might affect Dogecoin’s price.
They’ll be surprised. But those paying attention to the progress won’t be at all. I’m kidding…even THEY will be surprised. Even you. 😀
— Shytoshi Kusama™ (@ShytoshiKusama) January 11, 2025
Kusama said:
“We will surprise and challenge a few doubters and critics” with Shiba Inu’s potential.
The Potential Impact on Dogecoin
SHIBA INU to 100 Billion Dollars Mc CONFIRMED! $SHIB
— Oscar Ramos (@realOscarRamos1) November 10, 2024
If Shiba Inu’s market cap goes way up, from $13 billion to $1 trillion, that could cause Dogecoin’s market cap to surge as well. Dogecoin’s market cap could jump from $52 billion to a huge $4.46 trillion. With Dogecoin’s 147.68 billion coins in circulation, that $4.46 trillion market cap would make each Dogecoin worth around $30.18. That’s a 200% increase from Dogecoin’s current price, and substantial growth in Dogecoin price.
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Timelines and Expectations
While the prospect of Dogecoin reaching $30 due to Shiba Inu’s hypothetical trillion-dollar market cap is certainly an enticing one, a number of industry analysts do caution that such a scenario may take several years to actually materialize. As the Telegaon analysts argue, with a touch of skepticism:
“Reaching a $30 price with a $4.5 trillion market cap will take around ten years to fully materialize.”
Now, a few market commentators have argued that Dogecoin could potentially reach that $30 mark within the current cycle, citing the meme coin’s historical performance during the last couple of major bull runs. However, a bit more conservative estimates suggest that it could take up to about a decade for Dogecoin to achieve this rather lofty price target. This would mean keeping a close eye on Dogecoin price over the years.
#Dogecoin appears to be aligning with the Power of Three (PO3) pattern 🔥$Doge recently moved from a long consolidation in the Accumulation Phase, lasting from early November to mid-December, into the Manipulation Phase. Following this, the Distribution Phase is expected to… pic.twitter.com/qvEYCQbUly
— Trader Tardigrade (@TATrader_Alan) December 24, 2024
Similarly, the likelihood of Shiba Inu reaching a $1 trillion market cap in the immediate future is also a subject of some debate. While Shytoshi Kusama has expressed a notable degree of confidence, most analysts predict that it will likely take Shiba Inu around ten years or so to reach the $0.00169 price point necessary for a $1 trillion market cap, as the Telegaon analysts state.
Also Read: Will Dogecoin Hit $1 This Year Or Next? Here’s The Exact Timeline
In conclusion, the potential for Dogecoin to surge by a value of approximately 200% if Shiba Inu reaches a $1 trillion market cap is certainly an intriguing and captivating possibility. However, both the achievement of Shiba Inu’s ambitious goal and the subsequent Dogecoin price gain are likely to take a considerable amount of time to materialize fully.
As with any investment in the somewhat volatile cryptocurrency market, investors would be wise to carefully consider the various factors at play and conduct thorough research before making any decisions.