Experts Predict Shiba Inu Will Not Overtake Dogecoin in Market Cap
A recent poll by Finder surveyed 14 financial experts regarding the potential for Shiba Inu (SHIB) to overtake Dogecoin (DOGE) in market capitalization.
Survey Findings
- 79% of participants believe SHIB will never surpass DOGE.
- 7% are optimistic about SHIB overtaking DOGE, predicting it could happen by 2026.
- 14% are uncertain about SHIB's future performance.
Supply Challenges for Shiba Inu
Dr. Sathvik Vishwanath highlighted significant supply issues as a barrier for SHIB. Current circulating supplies show:
- SHIB: 589.25 trillion
- DOGE: 148.82 billion
This disparity in supply limits SHIB's ability to match DOGE's market cap despite its community support and tokenomics.
Current Market Positions
As of now:
- DOGE ranks 8th with a market cap of $24.60 billion.
- SHIB is in 17th place with a market capitalization of $7.3 billion.
To reach DOGE's position, SHIB would need a 240% increase in value, assuming DOGE's price remains constant.
Whale Activity Indicates Potential Changes
New trading data from IntoTheBlock shows an increase in SHIB's daily trade volume, reaching 224 billion tokens within 24 hours. Inflows from large holders rose from 96 billion SHIB on April 13 to over 224 billion on April 14, suggesting changing sentiment among major investors.
In 2021, SHIB briefly surpassed DOGE when its market cap hit $39 billion, but DOGE quickly reclaimed the title of the leading meme coin.