Shiba Inu (SHIB) Price: Experts Doubt It Will Overtake Dogecoin Despite Recent Performance

TLDR

Table of Contents

79% of finance experts believe Shiba Inu (SHIB) will never overtake Dogecoin (DOGE) in market capitalization
SHIB’s enormous circulating supply (589.25 trillion) compared to DOGE (148.82 billion) presents a major hurdle
Currently, Dogecoin holds 8th position with $24.60 billion market cap, while Shiba Inu is 17th with $7.3 billion
SHIB is outperforming Ethereum in monthly charts despite being based on the Ethereum network
SHIB is consolidating in the $0.00001150-$0.00001250 range, which is a historically important support zone

A recent poll conducted by Finders reveals that financial experts remain skeptical about Shiba Inu’s ability to dethrone Dogecoin as the leading meme cryptocurrency. The survey, which included 14 finance experts, found that 79% believe SHIB will never flip DOGE in terms of market capitalization.

Only 7% of experts showed confidence that Shiba Inu could eventually surpass Dogecoin, with these few predicting it might happen as early as 2026. The remaining 14% were uncertain about SHIB’s future in relation to DOGE.

This overwhelming consensus against a potential SHIB takeover aligns with broader market sentiments regarding the two popular meme coins.

One of the main barriers for Shiba Inu is its massive token supply. Dr. Sathvik Vishwanath, Unnocoin’s jurisdictional head, pointed to supply issues as a major hurdle.

SHIB’s circulating supply stands at 589.25 trillion tokens compared to just 148.82 billion for DOGE. This enormous supply gap makes it difficult for SHIB to gain ground on DOGE’s market cap, despite having strong tokenomics and community support.

Current Market Positions Show Wide Gap

The market position difference between the two cryptocurrencies is substantial. Dogecoin currently ranks 8th among all cryptocurrencies with a market cap of $24.60 billion.

Shiba Inu holds the 17th position with a market capitalization of $7.3 billion. For SHIB to reach DOGE’s current rank, it would need to increase its value by approximately 240%, assuming Dogecoin’s price remains constant and both tokens maintain their current circulating supply.

Despite these challenges, SHIB has shown some promising performance metrics. The token is actually outperforming Ethereum in monthly charts, even though it’s based on the Ethereum network and ecosystem.

While Ethereum and many of its ecosystem coins have struggled in recent months, SHIB has managed to show relative strength against ETH.

Technical Analysis and Price Movements

Shiba Inu is currently consolidating within the $0.00001150-$0.00001250 range. This zone has proven to be a historically important support level for the cryptocurrency.

$SHIB pattern is squeezing and it is getting ready for a break out at weekly chart.
I expect a rise from here if Bitcoin doesn't spoil it. pic.twitter.com/bqR5Pw9BQL
— $SHIB KNIGHT (@army_shiba) April 16, 2025

As SHIB trades around $0.00001198, this support zone becomes critical for both short-term traders and long-term investors to watch.

For a confirmed bullish move, SHIB needs to break above the $0.00001250 resistance level. If this happens, it could signal the beginning of a new uptrend.

The Relative Strength Index (RSI) for SHIB currently sits at 51.96, indicating neutral market sentiment. This suggests that SHIB will likely continue its consolidation pattern unless market conditions change.

Key price levels to watch include the $0.00001050 support (forming a potential double bottom), the current $0.00001150-$0.00001250 support zone, and the resistance at $0.00001250.

Traders should pay attention to volume during any breakout attempts. A significant increase in trading volume would validate a breakout, while low volume would suggest the price move lacks conviction.

Looking at the weekly chart, trading activity has decreased recently. The price has tested the $0.0000120-$0.0000125 level multiple times but has failed to break above it consistently.

While there have been minor bullish movements, the lack of significant price action and failed resistance tests point to a potentially bearish pattern in the short term.

Given the current market conditions and technical analysis, a cautious approach may be best. Investors might consider waiting for either a clear break and hold above the $0.0000125 resistance level for long positions, or a drop below the $0.00001150 support for short positions.

At present, Shiba Inu’s price of $0.00001190 puts its market cap at approximately $7.01 billion, making it one of the largest meme coins in the cryptocurrency market, despite its uncertain prospects against Dogecoin.

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