How High Will Shiba Inu Surge When Dogecoin’s Market Cap Hits $1 Trillion?

While the full marketplace recorded an uptick implicit the past day, Shiba Inu (SHIB) was slowing it down. The second-largest meme coin was lagging portion its counterparts were surging. Dogecoin (DOGE) was portion of the second arsenic it managed to rise. Meanwhile, respective were drafting parallels and assessing the correlation betwixt the 2 meme coins. Will SHIB witnesser a spike if DOGE registers a monolithic uptick?

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

Shiba Inu & Dogecoin: Are They Related?

Source: Watcher Guru

Meme coins that entered the marketplace aft Dogecoin were each inspired by it. DOGE holds the tag of being the OG meme cryptocurrency. Apart from this, the correlation betwixt the 2 was notably high.

Over the past 60 days, Shiba Inu has had a 0.88 correlation with Dogecoin. In opposition to Dogecoin, the plus has had a anemic relation with different fashionable assets similar Bitcoin and Ethereum.

Source: IntoTheBlock

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

Current Price Scenario

At the clip of writing, Shiba Inu was trading astatine $0.00002142 with a 0.64% spike implicit the past 24 hours. Meanwhile, arsenic seen successful the beneath chart, Dogecoin recorded a 4% summation passim the past day. During property time, the OG meme coin was priced astatine $0.3602.

Source: CoinMarketCap

The marketplace headdress of the Shiba Inu stood astatine $12.63 billion. Dogecoin’s marketplace valuation was astatine $53.21 billion.

Looking Into Dogecoin’s Potential Rise In Market Cap

Dogecoin has the imaginable to go the archetypal meme coin with a $1 trillion marketplace valuation. Dogecoin volition person to emergence by 1,865% to scope the $1 trillion valuation. If it succeeds, its terms volition emergence from its contiguous $0.3447 worth to $6.77, assuming that its proviso remains unchanged.

In addition, Shiba Inu’s terms volition alert to $0.0004193 if it suffers a proportionate 1,865% spike, akin to Dogecoin’s ascent to a $1 trillion marketplace value. As a result, SHIB’s terms whitethorn summation to an astounding $0.0004193 if Dogecoin reaches a $1 trillion marketplace value.

Also Read: XRP’s Golden Cross Signals Major Bull Run Ahead—Don’t Miss Out!