Shiba Inu ($SHIB) and $DOGS are both well-known meme tokens in the crypto market, but they face significant challenges in achieving their ambitious goals.
For Shiba Inu, the idea of reaching $1 per token is highly unlikely due to its massive circulating supply, which is around 589 trillion tokens. To reach $1, SHIB would need a market cap of $589 trillionâan amount far beyond the realm of possibility. To even approach this, over 99% of SHIB's supply would need to be burned, reducing the total supply to about 1 trillion tokens. Even then, SHIB would require a market cap of $1 trillion, comparable to Bitcoin's current value, but this scenario remains extremely improbable.
On the other hand, DOGS has gained attention recently, especially after its listing on Binance, with its value currently around $0.00122. As a meme token on The Open Network (TON) blockchain, dogs has sparked community-driven interest. However, like Shiba Inu, it faces major challenges, such as market volatility and concerns over long-term sustainability.
Together, SHIB and DOGS illustrate the speculative nature of meme coins in the crypto space. While their communities are optimistic, the path to such high valuations is fraught with significant obstacles, making these targets difficult to achieve in the near future.
