Top financial experts participated in a survey to determine whether Shiba Inu can overtake Dogecoin in terms of market capitalization. 

Shiba Inu has been competing against Dogecoin for the top position in the meme coin market since 2020 when SHIB made its debut. Although Shiba Inu flipped DOGE in 2021 when its market cap peaked at around $39 billion, the milestone was short-lived as Dogecoin overtook it almost immediately.  

Experts Weigh In on Whether SHIB Can Overtake DOGE 

Nearly four years after SHIB usurped DOGE to become the world’s largest meme coin, a group of financial experts has weighed in on whether Shiba Inu can replicate this feat and overtake Dogecoin in terms of market cap. 

A group of 14 financial experts participated in a survey conducted by Finders to ascertain whether SHIB could overtake DOGE. 

Out of the 14 respondents, a significant majority, representing 79%, assert that SHIB will never usurp DOGE’s market cap. 14% of the respondents were unsure about the possibility of SHIB flipping DOGE. 

However, a small fraction of about 7% of the respondents expressed confidence that SHIB would overtake DOGE. They expect Shiba Inu to achieve this milestone as early as 2026. Despite this assertion, the survey results indicate a strong consensus among the experts that SHIB’s market valuation is unlikely to surpass DOGE. 

Why SHIB Can’t Overtake DOGE 

Interestingly, Dr. Sathvik Vishwanath, CEO of Unnocoin, provided insight into why it would be difficult for SHIB to achieve the milestone. The expert suggested that Shiba Inu’s enormous supply and speculative nature could hinder SHIB’s market cap growth. 

He noted that Shiba Inu’s huge supply could make it difficult for Shiba Inu to catch up with DOGE’s market cap, irrespective of the former’s impressive tokenomics and passionate community. 

While SHIB has a circulating supply of 589.25 trillion tokens, DOGE’s supply stands at 148.82 billion. Based on Shiba Inu’s massive supply, experts like Vishwanath believe SHIB might continue to face challenges flipping DOGE’s market cap, irrespective of whether its price soars. 

In the meantime, DOGE ranks as the eighth-biggest cryptocurrency and the world’s largest meme coin, with its market cap standing at $24.62 billion. On the other hand, SHIB’s market cap of $7.3 billion positions it as the 17th biggest cryptocurrency and the second-largest meme coin after DOGE. 

For Shiba Inu to flip Dogecoin, its market cap must grow by 240% from the current value of $7.3 billion to around $24.82 billion. This estimate assumes that DOGE stays static around the $24.62 billion mark and that both assets’ circulating supplies remain unchanged.