Shiba Inu's Market Cap Could Reach $409 Billion, Matching Musk's Net Worth

Shiba Inu, a popular meme token, has been a subject of interest in the cryptocurrency community due to its strong community support and growing ecosystem of decentralized applications (dApps). The token has one of the strongest communities in the crypto space, with investors able to stake their SHIB, play blockchain-based games, and trade other meme coins through various dApps. This ecosystem has contributed to the token's resilience and continued relevance in the market.

Shiba Inu has been mentioned in the same conversation as Elon Musk, the CEO of Tesla and SpaceX, due to his influence over meme-based digital assets. Although Musk has supported Dogecoin and other tokens like Floki, he has yet to acknowledge SHIB directly. A new tweet by TheCryptoBasic speculates on how high SHIB could climb if it were to match Musk’s net worth, currently estimated at $409 billion. The tweet, shared on X, included a price projection that has caught the attention of the wider crypto community. While Musk has previously boosted assets such as Dogecoin to record highs through his public endorsements, his silence on SHIB continues to be a topic among supporters. Despite this, speculation continues around how a valuation tied to Musk’s wealth could reshape SHIB.

According to TheCryptoBasic, if SHIB were to match Elon Musk’s $409 billion net worth in market capitalization, each token could be worth approximately $0.0006941. This price projection uses SHIB current circulating supply of 589.25 trillion tokens as a basis. SHIB present market capitalization is around $6.84 billion. This figure places it far below Musk’s estimated wealth, which ranks the token as the 19th-largest cryptocurrency by market cap. The valuation is also well below top-ranking assets such as Bitcoin and Ethereum. If SHIB market cap grew to match Musk’s fortune, it could potentially become the second-largest cryptocurrency, if the valuations of other tokens remained unchanged.

Shiba Inu has been consistently categorized as a meme coin. It launched in August 2020 and has since developed a loyal community. Despite a large circulating supply, the project has managed to remain in the top 20 cryptocurrencies by market cap. Past attempts to engage Musk have included public tweets from the Shiba Inu development team. Lead developer Shytoshi Kusama has tagged Musk in several posts and attempted to associate the project with Musk’s interests. One effort even involved captioning a storm-themed dog image with the word “SHIB.” However, none of these campaigns have received a public response from Musk.

Several forecasts have aligned with the possibility of SHIB reaching price levels close to those tied to Musk’s hypothetical market cap match. Forecasting platforms such as Changelly and Telegaon estimate that SHIB could reach between $0.0006 and $0.00069 within the next five to ten years. Changelly projects that SHIB could hit the $0.00069 price point by September 2034. Telegaon provides a slightly earlier outlook, and expects the token to reach the $0.0006 milestone by 2030. Community voices, like Davie Satoshi, believe SHIB could climb to around $0.0006753 in the near future. While it’s a hopeful take, there’s no guarantee it will actually happen.

Despite the lack of direct support from Musk, SHIB continues to see strong community activity. Supporters have long believed that any level of engagement from the billionaire could lead to a sharp rally in price. One example is Dogecoin, which surged after Musk’s endorsements in 2021, is often cited in such discussions. At present, SHIB valuation remains highly speculative. The projection based on Musk’s net worth serves as a theoretical scenario rather than a guaranteed path. However, the discussion around this price point underscores the growing attention SHIB continues to receive in crypto circles. TheCryptoBasic tweet has sparked renewed debate on SHIB long-term potential and what kind of influence high-profile figures could still have on the token. While Musk has so far stayed away, the SHIB community remains vocal about the possibilities that could follow any future mention.