As shib is pumping we have many new people entering the space from their favorite YouTuber or person on Twitter telling them to buy shib. And it sure as hell is working to this point congrats.
But the problem is many of you newbies don’t understand MC I just got flamed for pointing out to two people that shiba will not EVER hit a penny (.01). I was accused of it being just like BTC to 10k and doge to 50 cent. Okay no shib is like neither of those.
Let’s revisit market cap shall we? The market cap is a metric we use to compare coins to one another it’s THE thing to check when you want to know potential price action of a coin. MC= circulating supply x current market price. BTC is the #1 coin at 1.1T (1 decimal place) MC. You can calculate that with $60,300 (current Market price) x 17 million (circulating supply). No one with a brain should believe your coin will surpass this.
Let’s look at shib shall we. A current MC of 17 billion. It’s got some room to run sure. Will it get to a penny? No shot. Why? MC. To get to 1 cent shib will need to 238x from here. That would be a market cap of 17B x 238 = over 4T. All of crypto is currently 2.55T. It’s NOT HAPPENING THIS RUN.
If you are new I hope this helps cause I doubt your influencer who told you to buy explained this. If you made money great but no your $50 will not 300x you will not hit $1 the supply continues to go up daily making it even harder. I hope this helps.
Edit: to those who are commenting like it can happen beat of luck. If it does save this post hit me up and I’ll record me chewing my show strings of 3 year old shoes.
Edit2: bring on the downvotes shib gang. Sorry for trying to educate you. /s im not sorry for telling the hard truth.