Shiba Inu (SHIB) is a major competitor of Dogecoin (DOGE) in the ongoing battle for meme coin dominance. The competition between these two assets also leads most analysts to speculate on when Shiba Inu will achieve a market capitalization equivalent to Dogecoin, the dominant meme coin.

Current Performance and Market Structure of Shiba Inu

The price of Shiba Inu has decreased by 3.44% in the past day and is trading at $0.00001277 at the time of reporting, with a market capitalization of $7.52 billion. According to CoinMarketCap, the circulating supply of Shiba Inu is 589.24 trillion SHIB, close to the maximum supply of 589.55 trillion. With most of the supply already in circulation, subsequent inflation is limited, which ideally could create scarcity and drive up the price of the token.

Meanwhile, the 24-hour trading volume of Shiba Inu surged 4% to $220.52 million. This lighter activity does not slow down the token's rise, as it continues to steadily increase, breaking through recent resistance levels. Analysts see a bullish trend in the short term but emphasize that higher trading volume will be necessary to sustain any major price increases in the upcoming sessions.

Position of Dogecoin and Market Comparison with Shiba Inu

Dogecoin remains the leading coin in the meme coin sector, trading at $0.1902 with a market capitalization of $28.46 billion. Unlike Shiba Inu, Dogecoin has no supply cap. With a total supply and circulating supply of 149.65 billion DOGE, this coin has experienced a 24-hour trading volume of $1.61 billion. Significant trading volume, combined with a 6% price increase, reflects strong investor demand and active market participation.

Different supply dynamics are the focus of the competition. Shiba Inu utilizes robust token burns and ecosystem expansion to support price increases, while Dogecoin's unlimited supply makes it an inflationary asset. Large and dynamic communities support both coins, but they differ in technological strategy and long-term ambitions.

When Can Shiba Inu Match Dogecoin's Market Capitalization?

For Shiba Inu to achieve Dogecoin's current market capitalization of $28.46 billion at the time of writing, Shiba Inu would need to increase by more than 280%. Based on the current supply, SHIB would need to rise to about $0.00005155. Analysts and prediction platforms provide varying timelines for this milestone.

Experts at Changelly estimate that Shiba Inu could reach this level by November 2027. In comparison, some other analysts believe that SHIB could achieve this goal by the end of this year, and a new all-time high could be set if bullish sentiment gains more traction.

Other analysts, including those at CoinCodex, point out that SHIB may not reach a similar market capitalization as DOGE until 2040, suggesting that this coin still needs to grow in terms of ecosystem adoption and trading volume.