Shiba Inu Coin (SHIB) vs. Pepe Coin (PEPE): Which Meme Coin Will Break Through $1 First?
Large Circulation of Shiba Inu
Shiba Inu has become a legendary figure in the cryptocurrency market due to its brand as the 'Dogecoin Killer' and its enthusiastic following. However, the massive circulation of 589.27 trillion SHIB tokens greatly limits potential price increases. If SHIB wants to reach $1, the market cap of the token would need to reach $589.27 trillion, which is over 230 times the total market cap of cryptocurrencies at $3.51 trillion. Such a price target is practically unattainable as this astronomical figure far exceeds the limits of the global economy.
Even a lower target of $0.01 would require a market cap of $5.89 trillion, still well above the total value of the cryptocurrency industry. Strong token burns are the main way to improve SHIB's price prospects. Token burns reduce supply, theoretically increasing scarcity and raising prices. Although the SHIB community has initiated token burn activities, these are insufficient to significantly reduce the available supply. The dream of $1 SHIB only seems feasible with a substantial reduction in the number of tokens.
Pepe Coin (PEPE): Another Stock Dilemma
Inspired by the famous internet frog meme, Pepe Coin reflects the challenges of Shiba Inu with a supply of 420.69 trillion tokens. PEPE needs a market cap of $420.69 trillion (119 times the current value of the entire cryptocurrency market) to reach a price of $1. An even more modest target of $0.01 still requires a market cap of $4.21 trillion, which is higher than the combined value of Bitcoin and Ethereum. Given the competitiveness and volatility of the cryptocurrency market, such a level of growth is nearly impossible.
Like SHIB, PEPE's large supply poses an insurmountable barrier to significant price increases. A strong token burn mechanism is crucial for achieving even modest price targets. Without this, the chances of reaching $1 are extremely slim.
