The meme coin phenomenon has captured the imagination of cryptocurrency enthusiasts worldwide, with tokens like Shiba Inu (SHIB), Pepe Coin (PEPE), and Dogecoin (DOGE) gaining popularity. However, the lofty goal of these tokens reaching 1 dollar remains a distant dream due to the large circulating supply and market capitalization constraints. Below is an insight into why 1 dollar for SHIB and PEPE is nearly impossible and why DOGE has a better chance of reaching this milestone.

1. Shiba Inu (SHIB): The 1 dollar dream versus market reality

Shiba Inu boasts a massive circulating supply of 589.27 trillion tokens, creating a significant barrier to substantial price increases.

  • Unrealistic market capitalization requirements:
    To reach 1 dollar, SHIB will need a market capitalization of 589.27 trillion dollars —a figure over 230 times the current global cryptocurrency market capitalization which is about 2.5 trillion dollars . Even reaching 0.01 dollars would require a market capitalization of 5.89 trillion dollars, more than double the current value of all cryptocurrencies combined .

  • Token burn is important:
    For SHIB to achieve any significant price increase, a large token burn program must be implemented to reduce the circulating supply. Without this, achieving even a modest price target like 0.01 dollars would be extremely challenging.

2. Pepe Coin (PEPE): Facing similar challenges

The circulating supply of Pepe Coin is 420.69 trillion tokens, which creates a similar situation that hinders significant price increases.

  • The unrealistic target of 1 dollar:
    For PEPE to reach 1 dollar, the market capitalization needs to reach 420.69 trillion dollars , which is 168 times the current market capitalization of Bitcoin . The target of 0.01 dollars will still require 4.21 trillion dollars , far exceeding the combined market capitalization of Bitcoin and Ethereum.

  • Market volatility and supply:
    Like SHIB, PEPE will need a strong supply reduction strategy , such as token burning, to see any notable price action. Without such measures, the chances of achieving moderate price milestones remain difficult.

3. Dogecoin (DOGE): A more realistic competitor

Dogecoin emerges as a stronger candidate in the meme coin category, with its current value around 0.2 dollars and a more manageable circulating supply compared to SHIB and PEPE.

  • A strong community and influential supporters:
    DOGE benefits from prominent support from individuals like Elon Musk and a loyal, active community. This support has helped DOGE maintain its relevance in the cryptocurrency space.

  • Market indicators support growth:
    Technical patterns such as descending wedge and golden cross signal potential bullish momentum for DOGE. Additionally, increasing trading volume and future interest rates support its upward trajectory.

  • The path to 1 dollar:
    DOGE will need a price increase of 525% to reach 1 dollar, a significant milestone but not impossible considering this coin's history of major price volatility during market rallies.

Conclusion: Balancing ambition with reality

The idea of Shiba Inu or Pepe Coin reaching 1 dollar is enticing but mathematically and economically unreasonable without a drastic reduction in supply or unprecedented market conditions. However, Dogecoin stands out as a viable candidate for the 1 dollar mark, supported by stronger market fundamentals and community backing.