Shiba Inu Drops 60% But Long-Term Goal Remains $0.0002649

Shiba Inu (SHIB) has consistently been one of the most discussed cryptocurrencies in the market due to its large supply and active community. Despite its recent drop to a 16-month low of $0.00001010, SHIB has remained in the top 20 crypto assets, ranked 19th by market cap as of now. It still faces pressure from Litecoin, which could push it down one more spot if SHIB’s valuation continues to drop. However, the long-term outlook held by its supporters focuses not on its current decline but on what the future could hold, particularly the possibility of surpassing Tether’s market cap.

Shiba Inu’s lead developer, Shytoshi Kusama, had previously expressed the ambition of bringing SHIB into the top five global cryptocurrencies. The idea of SHIB overtaking Tether may seem unlikely in the short term, but understanding the math behind such a scenario can help evaluate its feasibility. To determine how much one SHIB could be worth if it overtook Tether, it’s important to compare their market valuations. Currently, Tether (USDT) ranks third overall with a market cap of $156.02 billion. Shiba Inu, on the other hand, has a market capitalization of around $6.37 billion. In a hypothetical situation where SHIB’s market cap increases to $156.1 billion—slightly above Tether’s current figure—it would rise to become the third-largest cryptocurrency globally, behind only Bitcoin and Ethereum.

Assuming Shiba Inu maintains its circulating supply of 589.25 trillion tokens, a $156.1 billion market cap would place the price of a single SHIB at approximately $0.0002649. This figure represents an increase of over 2,300% from its present value of $0.00001081. For context, SHIB’s highest recorded price was $0.00008845 in October 2021, at which point its market cap was still under $45 billion. Reaching $0.0002649 would not only break SHIB’s previous price record but also eliminate one of its leading zeros—something the asset has never done.

While this price target is ambitious, it is not entirely dismissed by analysts. Forecasts from crypto data platforms suggest that such a valuation might be achievable in the coming years. According to the analyst's forecast, SHIB could hit this level by May 2032, while another analyst offers a more aggressive timeline, predicting the target could be met as early as 2028. Other market watchers have also weighed in with similar expectations. In September 2024, an analyst identified only as Michael highlighted a bullish Elliott Wave pattern in SHIB’s chart and concluded that a price surge to $0.0002 could occur in the medium term. Around the same time, another trader known as Charting Guy asked in November 2024, “are your bags packed enough for something like this?.” The trader’s statement came when SHIB was priced at $0.000025, with an anticipated price of $0.0002. Since then, the token has fallen by 60%, currently trading near $0.00001081.

Despite these fluctuations, past rallies offer a reminder that SHIB is capable of sharp upward movements. The most notable occurred during the 2020–2021 cycle, when SHIB saw exponential growth over a short period. While current price action does not point to an immediate surge, the possibility of SHIB attaining a $156 billion market cap remains open, but highly speculative. The long-term vision set by the Shiba Inu team, combined with support from committed holders and periodic bursts of trading activity, could provide the momentum needed for such a move. For now, surpassing Tether would require both significant market interest and favorable macroeconomic conditions. However, if it happens, each SHIB could be worth close to $0.0002649.