Dogecoin and Shiba Inu are trending higher than they were a year ago, but they are still a long way from their 2021 all-time high prices. While they both feature prominently in the top 20 cryptocurrencies by market cap, they are still far below the market cap of Ethereum, the second-largest cryptocurrency by market cap. So, if both DOGE and SHIB attained the market cap of Ethereum, what price would they be trading at?
Dogecoin With The Market Cap Of Ethereum
The Dogecoin market cap is currently sitting $30.7 billon while the price is at $0.214. This makes it the largest meme coin in the space in terms of market cap and puts it ahead of the likes of Shiba Inu. However, if the DOGE market cap were to reach the market cap of Ethereum, the price would trade much higher than it is now.
The MarketCapOf website shows where one cryptocurrency would be trading with the market cap of another, and in this case, it’s Dogecoin compared to Ethereum. If the DOGE market cap were to reach $424 billion, which is the current market cap of ETH, its price would trade at $2.96. Such a price point would mean that the DOGE price would be trading at 1,300% higher than its current price level.
Source: MarketCapOf
Then to take it one step further, the website shows where the Dogecoin price would be if its market cap were to reach the all-time high market cap of Ethereum. This would put it at $3.97 per coin with a market cap of $571.66 billion. It would also be 1,800% higher than its current price.
On the flip side, ETH, with the market cap of DOGE, would mean that the former would be trading at $255.89 per coin. It would be 93% lower than its current price, with a market cap of $30.7 billion.
Shiba Inu With The Market Cap Of Ethereum
Comparing the Shiba Inu price with the market cap of Ethereum leaves a large disparity between its current value and where it will be. As the website shows, SHIB’s price, if it reaches $424 billion, would sit at $0.00071637. Consequently, this would mean a more than 2,300% increase from its current level.
Then, looking at SHIB with the all-time high market cap of ETH puts it at 3,100% higher at $0.0009691. Inversely, Ethereum trading at the market cap of Shiba Inu puts it at a mere $150, which is 96% lower than its current price of $3,500.
This comparison shows the disparity between the assets despite all being some of the largest cryptocurrencies in the space. It also gives investors an idea of what to expect if the price of these coins were to continue growing over time.
DOGE bulls push price to $0.214 | Source: DOGEUSDT on Tradingview.com
Featured image from Coinpedia, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Source link
Leave a Reply