The cryptocurrency world has witnessed the rise of several meme-based tokens that have captured the imagination of investors and meme lovers alike. Among the most notable contenders are Pepe Coin and Shiba Inu, two coins that have grown significantly in market value due to viral popularity and strong community backing. In this article, we’ll compare these two meme coins in terms of their market cap, price, supply, and explore the potential for both to reach the coveted $1 mark, using market cap formulas to analyze their feasibility.
Current Status of Pepe Coin and Shiba Inu
Let’s start by understanding the current statistics of both Pepe Coin and Shiba Inu.
Pepe Coin:
- Current Price: $0.000019
- Market Cap: $8.2 Billion
- Max Supply: 420 Trillion (420,000,000,000,000)
- Contract: 0x6982508145454ce325ddbe47a25d4ec3d2311933
Shiba Inu:
- Current Price: $0.000024
- Market Cap: $14 Billion
- Max Supply: 589 Trillion (589,000,000,000,000)
- Contract: 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
Market Cap Formula: How to Calculate the Possibility of Reaching $1
The market cap formula is:Market Cap=Price per Coin×Total Circulating Supply\text{Market Cap} = \text{Price per Coin} \times \text{Total Circulating Supply}Market Cap=Price per Coin×Total Circulating Supply
To calculate the possibility of reaching a price of $1 for either Pepe Coin or Shiba Inu, we need to determine the required market cap, assuming both coins were to reach that price.
Pepe Coin Market Cap to Reach $1:
If Pepe Coin were to reach a price of $1, the required market cap would be:Market Cap=1 (Price)×420 Trillion (Supply)=420 Trillion USD\text{Market Cap} = 1 \, \text{(Price)} \times 420 \, \text{Trillion (Supply)} = 420 \, \text{Trillion USD}Market Cap=1(Price)×420Trillion (Supply)=420Trillion USD
Shiba Inu Market Cap to Reach $1:
Similarly, for Shiba Inu to reach $1, the required market cap would be:Market Cap=1 (Price)×589 Trillion (Supply)=589 Trillion USD\text{Market Cap} = 1 \, \text{(Price)} \times 589 \, \text{Trillion (Supply)} = 589 \, \text{Trillion USD}Market Cap=1(Price)×589Trillion (Supply)=589Trillion USD
The Reality: Total Market Cap and Global GDP
To put these numbers into perspective, let’s compare these required market caps to the total global Gross Domestic Product (GDP), which is a measure of the total economic output of all countries.
As of 2023, the total global GDP is estimated to be around $104 trillion. Here’s how the calculations for both coins would compare:
- Pepe Coin:
- Required market cap to reach $1: $420 trillion
- This is approximately 4 times the total global GDP.
- Shiba Inu:
- Required market cap to reach $1: $589 trillion
- This is approximately 5.6 times the total global GDP.
Why $1 is Unlikely for Both Coins
Looking at these figures, it becomes clear that reaching a $1 price for either Pepe Coin or Shiba Inu would require a market cap far exceeding the size of the entire global economy. This makes the prospect of both coins reaching $1 virtually impossible unless there is a significant reduction in supply through coin burns.
For both coins to reach $1, they would need to burn a massive amount of their total supply, which could reduce the circulating supply to levels where the price could realistically approach $1. Let’s take a look at what would need to happen:
How Burning Coins Can Impact the Price:
The supply of both coins would need to be drastically reduced to make reaching $1 plausible. By burning coins, the circulating supply decreases, which can increase the price due to a smaller available supply.
SUMARRY : Is Reaching $1 Realistic?
Given the vast supply of both Pepe Coin (420 trillion) and Shiba Inu (589 trillion), reaching $1 for either coin is currently impossible without a dramatic and extreme reduction in their circulating supply. Burning hundreds of trillions of coins would be necessary, which would require concerted efforts from the community and the developers.
The required market cap for these coins to reach $1 would far exceed the entire global GDP, making such an event highly unrealistic. However, it’s important to note that the meme coin market is volatile and driven by speculative interest, so unexpected developments or shifts in market sentiment could still influence their value.
Until significant changes occur, such as the burning of coins or other substantial modifications to their supply, both Pepe Coin and Shiba Inu will likely remain in their current price range, where investors can still profit from market swings, but the $1 price point will remain firmly out of reach.
In conclusion, burning coins or introducing mechanisms that reduce supply will be key for any meme coin, including Pepe Coin and Shiba Inu, to make any headway toward a $1 price point. Until then, these coins are likely to remain a part of the speculative, high-risk meme coin ecosystem.
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