- Potential Price Target: If Shiba Inu captures half of Ethereum’s market cap, its price could soar to $0.0002428, a significant jump from its current $0.00001420.
- Ethereum Connection: SHIB’s close ties to Ethereum, including its ecosystem projects like Shibarium, drive speculation that it could mirror ETH’s market influence.
- Timeline Predictions: Changelly expects SHIB to hit $0.0002428 by 2031, while Telegaon is more optimistic, forecasting the target by 2028.
Shiba Inu (SHIB) could erase a zero and hit a fresh all-time high if it manages to capture half the market cap of Ethereum, the second-largest cryptocurrency. Amid a broader crypto market rally, SHIB’s market cap surged from $7 billion to over $8 billion, sparking renewed interest.
Shiba Inu and Ethereum: A Tight Connection
Some speculate that SHIB could grow to half the size of Ethereum, given its strong ties to the network. Shiba Inu, launched in August 2020 as an ERC-20 token, has maintained its spot as one of Ethereum’s top tokens. SHIB developer Kaal Dhairya even called it Ethereum’s “number one loyal ERC-20 token.”
Moreover, Ethereum powers SHIB’s ecosystem projects like Shib: The Metaverse and its scaling solution, Shibarium. This ongoing association has fueled predictions that SHIB could rise dramatically if it gains significant market share relative to Ethereum.
SHIB Price Potential if It Reaches 50% of ETH’s Market Cap
To reach half of Ethereum’s market cap, SHIB would need to capture $143.07 billion, half of ETH’s current $286.14 billion valuation. With SHIB trading at $0.00001420 and a market cap of $9.44 billion, such a leap would push SHIB to a new all-time high of $0.0002428 — assuming the supply remains around 589.25 trillion tokens.
Timeline to the $0.0002428 Target
Opinions vary on when SHIB might hit the $0.0002428 target. Last year, Bitcoin investor Moataz Elsayed suggested that SHIB could reach $0.00024 if it mirrors its explosive Q2 2021 rally. Similarly, a previous Crypto Basic analysis indicated SHIB could achieve this level if Solana surged to $3,000 per coin.
Changelly predicts SHIB will reach the $0.0002428 mark by November 2031. However, Telegaon is more optimistic, forecasting that SHIB could hit the target by 2028.
