In this video I discuss why Shiba Inu (SHIB) will probably never go to $1 and Dogecoin (DOGE) will probably never go to $10. In this video we are going to talk about the market cap, also called market value or market capitalization. The market cap is equal to the number of shares or coins that exist, multiplied by the price of this share or coin.
De market cap van Shiba Inu vs Dogecoin vs Bitcoin
There are currently 549 trillion Shiba Inu tokens in circulation. If you multiply this number by the current price of a Shiba Inu coin, you arrive at a market cap of around $13 billion. There are currently 19,000,000 Bitcoins (BTC) in circulation. If you multiply this number by the current price of Bitcoin, you end up with a market cap of about $700 billion. The market cap of Shiba Inu is therefore lower, but that does not immediately mean that Shiba Inu can be worth $1. If Shiba Inu were worth $1, the total market cap would be $549 trillion. The market cap of Shiba Inu would then be 784x as large as the current market cap of Bitcoin. Personally, I don’t see that happening anytime soon.
There are now 132 billion Dogecoins in circulation. If the price of Dogecoin were to rise to $10, it would mean that the market cap would be $1.32 trillion. Given that this would be almost double the current market cap of Bitcoin, this is also an unlikely situation. By making these calculations with market caps, you can see whether price expectations of cryptos and shares are logical and whether they would be easy or difficult to realize.
I myself dived into the world of crypto at the end of 2019 and have also delved more into equities from the beginning of 2020. I have now found my life mission: a financially healthy life for everyone. At my Engels- on Dutch I make videos about crypto and stocks under the name ‘Nesami’ on YouTube channels, using my FUPITA method: fundamental, financial and technical analysis. When it comes to crypto, I follow the latest developments in bitcoin, altcoins and NFTs. Are you curious how I can help you with investing in crypto and stocks? Then take a look at my website!
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