Shiba Inu's Bull Market Price Potential May Surprise You

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Most meme coins don't stick around long. Shiba Inu (SHIB +1.62%) is one of the rare exceptions. It launched in 2020 and peaked in 2021, but it's still a recognizable name with a market cap of about $3 billion, and its price has increased 21% over the last month (as of Sept. 18).

It's a welcome turnaround for a cryptocurrency that has mostly trended down since early 2025. Here's what has changed recently for Shiba Inu and what kind of price potential it has.

Regulatory wins could be tailwinds for Shiba Inu

Shiba Inu received good news on the regulatory front in March when the Securities and Exchange Commission (SEC) classified it, along with 15 other major cryptocurrencies, as digital commodities. That classification means Shiba Inu doesn't fall under the SEC's strict securities rules. Exchanges can offer Shiba Inu trading, and institutions can own the meme coin, without the risk of a lawsuit for listing or holding an unregistered security.

This also opens the door to the possibility that crypto exchange-traded funds (ETFs) could hold Shiba Inu. Although there haven't been any applications for spot Shiba Inu ETFs so far, T. Rowe Price has filed with the SEC for permission to launch an active crypto ETF that would hold cryptocurrencies that fit its definition of eligible assets. Shiba Inu makes the list, alongside Bitcoin, Ethereum, and XRP, among others.

In November, Shiba Inu was also the first meme coin to be added to Japan's regulatory Green List. That put it in the same category as Bitcoin and Ethereum, and it means that Japanese crypto exchanges that want to list Shiba Inu can do so without any delays.

This meme coin has less upside than you might think

Shiba Inu trades at around $0.000005, and while fans of this cryptocurrency sometimes speculate it could reach $0.01, that's not happening. There are about 589 trillion SHIB tokens in circulation, and if it reaches $0.01, Shiba Inu would have a market cap of $5.89 trillion. That's more than double the value of the entire crypto market.

The regulatory wins and inclusion in T. Rowe Price's proposed crypto ETF are both beneficial for Shiba Inu, but they haven't moved the needle noticeably when the token is viewed through a wider lens. It's still down 94% from the all-time high it set in 2021, and down by 60% over the past 12 months. Even though Shiba Inu has met certain regulatory standards, I question the level of institutional adoption there will be for a meme coin with a cartoon dog as its mascot.

Shiba Inu has occasionally gone on short upward runs, though their peaks have been lower since the big one in 2021. It reached $0.000045 in 2024, which is about nine times higher than its current price. It's certainly in the realm of possibility that Shiba Inu could build up some hype again and manage to double, triple, or more. However, that's entirely up to chance, and the likelihood of it happening is slim. I'd stay far away from Shiba Inu and stick to crypto investments with better odds of success.

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