Shiba Inu coins $SHIB and $DOGS are both popular meme tokens in the crypto market, but they face significant challenges in achieving their ambitious goals.
For Shiba Inu, reaching $1 per token would require overcoming the massive barrier of circulating supply, which currently sits at around 589 trillion tokens.
Such a feat would require a market cap of $589 trillion, far beyond the realm of possibility. To get close to this figure, over 99% of SHIB’s supply would need to be burned, reducing the total supply to around 1 trillion tokens.
This would give SHIB a market cap of $1 trillion, which is on par with Bitcoin’s current valuation, but the likelihood of this happening remains extremely low.
On the other hand, DOGS coin has recently attracted attention, especially after being listed on Binance, with its current value at around $0.00122. DOGS coin, a meme token on The Open Network (TON) blockchain, has attracted community interest, but like Shiba Inu, it faces significant challenges, including market volatility and long-term sustainability.