Shiba Inu (SHIB) could hit unprecedented levels if it grows to become any one of the top 3 cryptocurrencies by market cap.

Since 2022, the cryptocurrency market has featured Bitcoin (BTC), Ethereum (ETH) and USDT as the top 3 assets. Though USDT occasionally gave up its position to BNB, the stablecoin has always reclaimed the third spot. This happens during an increase in USDT supply through minting or a market drop.

SHIB’s Battle in the Top 10

Meanwhile, Shiba Inu slipped into the top 10 list in October 2021 amid its meteoric price run at the time. A historical snapshot from CoinMarketCap shows that SHIB commanded a $36.9 billion market cap on October 31, 2021, making it the ninth largest cryptocurrency, surpassing Dogecoin (DOGE), which stood at tenth.

Shiba Inu in Historical Snapshot October 31 2021 | CoinMarketCap

Shiba Inu has since collapsed below this market cap, with its valuation now around $10.1 billion. At the current market cap, SHIB is now the thirteenth largest crypto asset by valuation. The meme coin has continued to push toward reclaiming its spot among the top 10 assets.

Notably, the last time Shiba Inu entered the top 10 list of cryptocurrencies was in May this year. This occurred on the back of an impressive rally engineered by SHIB in late May. Shiba Inu skyrocketed above $0.000028 during this period, boosting its market cap to $16.84 billion.

Shiba Inu Price as a Top 3 Asset

Despite SHIB now out of the top 10 list, some market watchers predict that the meme coin has the potential to become a top 3 crypto asset. Such a feat would require a massive price rally from SHIB. Notably, among the top 3, Bitcoin has a market cap of $1.33 trillion, while Ethereum boasts a valuation of $387.9 billion. Meanwhile, USDT’s market cap stands at $114.3 billion.

Attaining any of these market valuations would translate to an unprecedented price height for Shiba Inu. For instance, to claim USDT’s market cap of $114.3 billion and become the third-largest crypto asset, SHIB must spike to $0.0001944. This price, essentially a new ATH, represents a 1,031% increase from Shiba Inu’s current price of $0.00001718.

Meanwhile, to become the second-largest cryptocurrency, SHIB must reach Ethereum’s valuation of $384 billion. Such a market cap would require a price of $0.0006583, representing a massive 3,731% increase for Shiba Inu. Market platform Telegaon predicted SHIB to reach the $0.0006 zone in 2030, while Changelly set a target year of 2032.

To become the largest cryptocurrency by market cap, Shiba Inu would need to claim a valuation of $1.33 trillion. Considering its supply remains stable, a $1.33 trillion valuation for SHIB would lead to a price of $0.00226. Changelly projected in April that SHIB is capable of hitting the $0.002 level between 2033 and 2040.