How High Will Shiba Inu Surge When Dogecoin’s Market Cap

While the entire market recorded an uptick over the past day, Shiba Inu (SHIB) was slowing it down. The second-largest meme coin was lagging while its counterparts were surging. Dogecoin (DOGE) was part of the latter as it managed to rise. Meanwhile, several were drawing parallels and assessing the correlation between the two meme coins. Will SHIB witness a spike if DOGE registers a massive uptick?

Also Read: AI Sets Dogecoin (DOGE) Price For January 20, 2025

Meme coins that entered the market after Dogecoin were all inspired by it. DOGE holds the tag of being the OG meme cryptocurrency. Apart from this, the correlation between the two was notably high.

Over the last 60 days, Shiba Inu has had a 0.88 correlation with Dogecoin. In contrast to Dogecoin, the asset has had a weak association with other popular assets like Bitcoin and Ethereum.

Also Read: FOMC Meeting Could Trigger Bitcoin’s Price Surge by January End

Current Price Scenario

At the time of writing, Shiba Inu was trading at $0.00002142 with a 0.64% spike over the past 24 hours. Meanwhile, as seen in the below chart, Dogecoin recorded a 4% increase throughout the last day. During press time, the OG meme coin was priced at $0.3602.

The market cap of the Shiba Inu stood at $12.63 billion. Dogecoin’s market valuation was at $53.21 billion.

Looking Into Dogecoin’s Potential Rise In Market Cap

Dogecoin has the potential to become the first meme coin with a $1 trillion market valuation. Dogecoin will have to rise by 1,865% to reach the $1 trillion valuation. If it succeeds, its price will rise from its present $0.3447 value to $6.77, assuming that its supply remains unchanged.

In addition, Shiba Inu’s price will fly to $0.0004193 if it suffers a proportionate 1,865% spike, similar to Dogecoin’s ascent to a $1 trillion market value. As a result, SHIB’s price may increase to an astounding $0.0004193 if Dogecoin reaches a $1 trillion market value.

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