Seeing the movements of DOGE & SHIBA which do not have the volatility they used to make these two dog tokens lose their identity as meme tokens which are famous for their high volatility.
With market conditions like now, will DOGE & SHIBA be able to touch the All Time High again?
To measure potential, we must first know how big the market cap is needed to reach ATH.
DOGE
Currently DOGE has a market cap of $8.45 billion and a circulating supply of 141,497 billion and the ATH value on DOGE is $0.73 (11,708 Rupiah) which was reached on May 8, 2021.
How big a market cap does DOGE need to reach its ATH price? Let's calculate đ
MarketcapATH= Circulating Supply Ă Ath Price
MarketcapATH= 141,49 Billion Ă $0,73
MarketcapATH= $103,29 Billion
So, it can be seen that to touch ATH, DOGE needs a market cap of $103.29 billion.
SHIBA INU
With the current market cap of $4.07 billion, circulating supply is 589.34 trillion and Ath is at $0.000088 (1.4 Rupiah) which was reached on October 28, 2021.
How big a market cap does SHIBA need to reach its ATH price? Let's calculate đ
MarketcapATH= Circulating Supply Ă ATH Price
MarketcapATH= 589.34 Trillion Ă $0.000088
MarketcapATH= $51.862 Trillion
It can be seen that SHIBA at the ATH price needs a market cap of $51.86 trillion.
CONCLUSION
From the calculations above, it can be seen that DOGE requires a market cap of $103.29 billion and SHIBA requires a market cap of $51.86 trillion.
And we can see on the CMC site that the DOGE market cap volume in 1 day is $142 million and the SHIBA market cap in 1 day is $80 million.
From these data we can consider it to measure the potential of $DOGE & $SHIB to reach ATH, of course the market is not as easy as we imagine, market conditions can make it possible to reach ATH more quickly or instead it slows down.
