Shiba Inu Needs 240% Gain to Surpass Dogecoin, Experts Skeptical

Financial experts remain skeptical about Shiba Inu's ability to surpass Dogecoin in value, according to a recent poll. The poll, which surveyed 14 finance experts, found that 79% of participants believe that Shiba Inu will never overtake Dogecoin in market capitalization. Only 7% of those polled expressed confidence that Shiba Inu could surpass Dogecoin, with some predicting this could happen as early as 2026. The remaining 14% were uncertain about Shiba Inu's prospects.

One of the major hurdles preventing Shiba Inu from overtaking Dogecoin is the significant disparity in their token supplies. Dr. Sathvik Vishwanath, Unnocoin’s jurisdictional head, highlighted that the circulating supply of SHIB is 589.25 trillion, compared to just 148.82 billion for DOGE. Despite Shiba Inu's strong tokenomics and community support, the massive token supply makes it challenging for SHIB to surpass DOGE's market cap.

Currently, Dogecoin holds the eighth position among cryptocurrencies with a market cap of $24.60 billion, while Shiba Inu is in 17th place with a market capitalization of $7.3 billion. For Shiba Inu to reach Dogecoin's current rank, assuming Dogecoin's price remains constant and both tokens have the same circulating supply, Shiba Inu would need to increase its value by 240%.

Despite the negative outlook from analysts, recent trading statistics indicate a significant rise in Shiba Inu's value. According to IntoTheBlock, the daily trade volume of SHIB rose to 224 billion tokens in 24 hours, driven by increased activity from large-holders. Inflows from major investors increased from 96 billion SHIB on April 13 to over 224 billion on April 14. This surge in interest from whales could signal a shift in sentiment, as major investors often position themselves before anticipating price movements.

This is not the first time these cryptocurrencies have competed for superiority. In 2021, Shiba Inu briefly surpassed Dogecoin when its market cap reached $39 billion. However, this victory was short-lived as Dogecoin quickly reclaimed its position as the leading meme coin.