SHIB's ₱211.93 billion ($3.65 billion) Market Cap Makes $0.01 Price Mathematically Impossible
Shiba Inu emerged as a memecoin experiment in August 2020, but by February 2026 its massive supply has created an insurmountable barrier to meaningful price appreciation.
Serious capital no longer looks at SHIB's price per token, according to U.Today writers who called the psychological fixation on price a distraction from the real problem: a tokenomics bottleneck where the sheer mass of existing supply prevents any meaningful price appreciation.
Shiba Inu holds a ₱211.93 billion ($3.65 billion) market cap as of late February, ranking it in the top 30 globally despite what the writers described as an increasingly hard-to-justify position. The network burns 172 million tokens per cycle, but that removal rate barely dents the 589 trillion circulating supply. At a $0.01 price, SHIB's market cap would hit ₱336.76 trillion ($5.8 trillion) — roughly double the entire crypto market's historical peak valuation.
SHIB emerged from pseudonymous creator Ryoshi in August 2020 as what he described as "an experiment in decentralized community building." The token positioned itself as a Dogecoin competitor, sharing the Shiba Inu dog mascot and memecoin viral mechanics rather than formal utility. Frenzied retail buying in October 2021 drove a 240% price rise before a 55% decline by month's end.
The ecosystem expanded with Shibarium, a Layer 2 blockchain, plus ShibaSwap and a metaverse project. None gained the institutional traction or total value locked that would justify current valuations. U.Today described the massive multi-billion valuation as "a gravitational anchor, pinning the asset to a top-30 global ranking that it increasingly struggles to justify." SHIB currently trades at $0.0000062 with a circulating supply of 589 trillion tokens as of February 23, 2026.
This article was written based on reporting from U.Today.
