- Shiba Inu (SHIB) is currently down 12.6% this month and 63.41% from its December peak.
- 85.22% of SHIB holders are in losses, yet many remain optimistic about a price rebound.
- If SHIB reaches Cardano’s market cap of $23.15 billion, its price could rise to $0.00003930.
Shiba Inu has continued to trade in bearish territory, currently hovering around $0.000012 per token. At press time, SHIB is down over 12% for the month. The token is also down 7.49% over the past seven days and remains 63.41% below its December peak of $0.00003329.
Shiba Inu investors remain confident despite losses
Despite the downturn, many investors still believe SHIB has strong upside potential. Data from IntoTheBlock reveals that 85.22% of all SHIB holders are in losses at the current price, while only 10.59% are in profit. Additionally, 4.19% of SHIB holders are at breakeven, meaning they are neither making gains nor incurring losses.
Some investors are speculating on how high SHIB could rise if it surpasses established cryptocurrencies like Cardano in market capitalization. This assumption suggests that if SHIB reaches or exceeds Cardano’s market cap, it could become the ninth-largest cryptocurrency.
At present, Cardano (ADA) has a market cap of $23.15 billion, making it the ninth-biggest cryptocurrency. In contrast, SHIB has a market cap of $7.16 billion and is ranked 17th globally.
For Shiba Inu to surpass Cardano, its market cap must increase by 224% from its current level. This surge would push SHIB’s valuation to $23.16 billion, placing it ahead of ADA in the rankings—assuming Cardano does not experience similar growth.
If SHIB reaches a market cap of $23.16 billion, its price would be approximately $0.00003930 per token, given its circulating supply of 589.25 trillion tokens. This valuation remains 55.56% below SHIB’s all-time high of $0.00008845. The last time SHIB traded near $0.000039 was on March 6, 2024, following a multi-year peak of $0.000045 the previous day. Since then, SHIB has struggled to reclaim this price level.
Several analysts have previously projected that SHIB was on the verge of hitting the $0.000039 target. One such analyst, Ak47, predicted last year that SHIB would surge to $0.00003946 after breaking out of a multi-week falling wedge pattern. However, due to unfavorable market conditions, this prediction did not materialize.
Meanwhile, crypto prediction platform Changelly forecasts that SHIB will reach the $0.000039 price level by December 2026.
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