- If Dogecoin reaches $5, Shiba Inu could surge by 2,798% to approximately $0.00037, potentially valuing a 100M SHIB portfolio at $37,000.
- However, achieving this milestone depends on factors like adoption, token burns, and broader market trends.
Dogecoin’s Potential Path to $5
Despite its current volatility, Dogecoin remains a dominant force in the meme coin market. Analysts at Changelly predict that DOGE could reach $5 by October 2034. For this to happen, Dogecoin would need to rally by approximately 2,798% from its current price of $0.1725, pushing its market cap to $743.13 billion.
Given its historical influence over the meme coin sector, a surge in Dogecoin’s price could have a ripple effect on other assets, including Shiba Inu. Data from IntoTheBlock shows that Shiba Inu has maintained a 95% correlation with Dogecoin over the past 60 days, further strengthening the argument that SHIB’s price movements are closely tied to DOGE’s performance.
Also read: California Moves to Safeguard Crypto Payments and Self-Custody with New Bill
How High Could Shiba Inu Go?
Shiba Inu is currently trading at $0.00001280, with a market cap of $7.53 billion. If SHIB were to mirror Dogecoin’s potential 2,798% surge, its price could reach approximately $0.00037 per token.
At this price, a portfolio holding 100 million SHIB tokens, currently worth $1,280, would balloon to $37,000. Additionally, Shiba Inu’s market cap would skyrocket to $218.5 billion, assuming no changes in its circulating supply.
Will Shiba Inu Actually Reach $0.00037?
Reaching $0.00037 would be a historic milestone for Shiba Inu, surpassing its previous all-time high of $0.00008845 by 318%. While this price level remains speculative, various forecasts suggest it could be possible.
Changelly experts predict SHIB will approach the $0.00037 mark by 2030, while Telegaon expects it to hit this target a year earlier, in 2029. Meanwhile, Himanshu Maradiya, chairman of the CIFDAQ Blockchain Ecosystem, recently told Forbes that SHIB could climb to $0.0003 by the end of this year.
However, for Shiba Inu to reach such heights, factors like increased adoption, higher token burns, and continued ecosystem development would need to align. Investors should keep a close eye on market trends and industry developments before making investment decisions.
