The battle for meme coin supremacy has always been one of the most unpredictable arenas in crypto — and once again, the spotlight is on Shiba Inu (SHIB). While it once managed to momentarily surpass Dogecoin (DOGE) in market capitalization, the question now is whether it can pull off the impossible a second time.
A recent survey conducted by Finder tapped the opinions of 14 cryptocurrency analysts and industry professionals, and the collective sentiment is clear: the chances of SHIB overtaking Dogecoin again are fading fast.
Remembering 2021: When SHIB Stunned the Market
It’s easy to overlook now, but during the height of the 2021 meme coin frenzy, Shiba Inu shocked the crypto world by briefly flipping Dogecoin. At its peak, SHIB’s market cap soared to $39 billion, fueled by viral hype, exchange listings, and speculative frenzy.
But Dogecoin, backed by a longer history, cultural weight, and celebrity endorsements (including Elon Musk’s relentless support), quickly reclaimed its position and has maintained a strong lead ever since.
As of April 2025, Dogecoin stands firmly as the 8th largest cryptocurrency by market cap, while Shiba Inu has slipped to 17th place — despite ongoing development, community loyalty, and ecosystem growth.
What the Experts Are Saying
According to Finder’s survey, a decisive 79% of experts believe SHIB will never flip DOGE again. Another 14% remain uncertain, while a mere 7% still hold out hope that it could happen, potentially by 2026 — an increasingly lonely position in today’s market climate.
Dr. Sathvik Vishwanath, CEO of Unocoin, was particularly blunt, citing Shiba Inu’s enormous token supply as its biggest obstacle.
“Shiba Inu’s massive circulating supply of 589.25 trillion tokens makes it nearly impossible to rival Dogecoin’s 148.82 billion without astronomical price moves,” Vishwanath explained.
Even if Shiba Inu experiences a dramatic price surge, the mathematics of its tokenomics create a structural disadvantage when it comes to challenging DOGE’s market cap dominance.
Market Math: The Numbers Behind the Hype
As it stands:
- Dogecoin’s market cap: $24.62 billion
- Shiba Inu’s market cap: $7.3 billion
For SHIB to overtake DOGE, it would require a 240% market cap increase, assuming Dogecoin remains static. In crypto, triple-digit gains aren’t unheard of — but sustaining that kind of rise long enough to dethrone an established heavyweight like Dogecoin is an entirely different challenge.
Dogecoin, despite its origins as a joke, continues to benefit from:
- First-mover advantage
- Broader name recognition
- Integration with major exchanges and platforms
- Endorsements from high-profile figures like Elon Musk
- Increasing payment utility through platforms like X (formerly Twitter) and AMC Theatres
This gives DOGE a durability that even SHIB’s highly dedicated community struggles to match.
What SHIB Has Going For It
That said, Shiba Inu isn’t out of the game. Its ecosystem has expanded far beyond meme status, with ongoing projects like:
- Shibarium, a layer-2 blockchain network designed to enhance transaction speed and reduce gas fees
- Plans for SHIB: The Metaverse, aiming to tap into the digital real estate and metaverse economy
- Decentralized financial products and NFT ventures
SHIB also boasts one of the largest, most active crypto communities globally, often outpacing Dogecoin in social media engagement and grassroots support.
According to Santiment, social dominance for SHIB remains one of its strongest assets, with spikes during major market events, although this has yet to consistently translate into price gains.
Could a Market Shift Change the Story?
While most analysts agree SHIB won’t dethrone DOGE under current conditions, the meme coin market is notoriously volatile. Factors that could shift the balance include:
- A significant regulatory setback for Dogecoin
- A breakout adoption use case for Shibarium
- Major exchange partnerships or integrations
- Another viral retail-driven rally reminiscent of 2021
It’s worth noting that meme coins, by nature, are speculative assets largely driven by community sentiment and hype cycles. If momentum were to swing dramatically in SHIB’s favor, history shows that surprising upsets are possible — but increasingly unlikely in a maturing market.
Final Verdict: The Crown Stays with Dogecoin… for Now
Shiba Inu’s bid to reclaim meme coin dominance seems more aspirational than probable at this stage. While its community is fierce, and its development roadmap shows promise, the market fundamentals heavily favor Dogecoin.
As the crypto space edges toward greater utility-driven value and institutional adoption, meme coins will need more than nostalgia and hype to maintain long-term relevance.
For now, Dogecoin’s head start, simplified tokenomics, and public profile keep it firmly in the lead.
The meme coin war isn’t over — but for SHIB to flip DOGE, it would take a market event on a scale the crypto world hasn’t seen since the GameStop saga of 2021. Until then, Dogecoin remains the undisputed heavyweight in the meme coin division.
