The price of Shiba Inu could surge significantly if SHIB equals or surpasses the market capitalization of Cardano.
Shiba Inu has continued to trade in bearish territory recently, with SHIB currently hovering around the $0.000012 price mark. At press time, Shiba Inu was changing hands at $0.00001218 per token, representing a month-to-date decline of 12.6%. Shiba Inu is also down 7.49% in the past seven days and 63.41% from its December peak of $0.00003329.
Investors Remain Confident Despite Suffering Huge Losses
According to IntoTheBlock data, 85.22% of all Shiba Inu holders are in losses at the current price, while only 10.59% are in profit. However, 4.19% of all blockchain addresses holding SHIB are at breakeven, implying that they are neither in profit nor loss.
Although most Shiba Inu investors are in losses, some holders are still confident about a potential price surge this season.
Notably, some investors wonder how high the price of Shiba Inu will rise if it ‘takes over’ the position of established cryptocurrencies like Cardano in the global crypto ranking.
This bold imagination assumes that SHIB will equal or surpass Cardano’s market cap to become the ninth biggest cryptocurrency—provided ADA doesn’t experience comparable growth.
Shiba Inu Price If It Takes Over Cardano
Currently, ADA is trading at $0.6566 per coin, and its market cap is $23.15 billion, making it the ninth-biggest cryptocurrency in the world.
On the other hand, Shiba Inu is worth $0.00001218 per token. It is currently ranked as the 17th biggest cryptocurrency globally, with a market cap of $7.16 billion. To surpass Cardano’s market cap, Shiba Inu must spike 224% from its current valuation of $7.16 billion.
This increase would take SHIB’s valuation to $23.16 billion, potentially positioning SHIB to rank ahead of ADA as the ninth biggest asset, assuming the latter does not witness comparable growth.
At a market cap of $23.16 billion, SHIB will be worth $0.00003930 per token, given its circulating supply of 589.25 trillion tokens. This estimated price is still 55.56% below Shiba Inu’s all-time high of $0.00008845.
Recall that the last time SHIB traded around $0.000039 was on March 6, 2024. A day earlier, the coin had surged to a multi-year peak of $0.000045. Ever since, Shiba Inu has struggled to reclaim the $0.000039 target.
SHIB Potential Surge to $0.000039
Several experts had previously predicted that SHIB was close to hitting the target, including pseudonymous analyst Ak47.
As reported last year, the analyst projected that SHIB was poised for a surge to $0.00003946 after the token breached a multi-week falling wedge. This prediction did not materialize due to multiple market developments.
Meanwhile, crypto prediction platform Changelly forecasts that SHIB will revisit the $0.000039 price mark by next year, specifically in December 2026. Interestingly, the prediction platform Telegaon believes SHIB will hit its target this year.
Ultimately, whether SHIB will revisit the $0.000039 target this year or next remains to be seen.
Latest Cryptocurrency News – The Crypto Basic – Read More