The post It Might Be Impossible to Hit $1 appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Some investors may find it thrilling to see PEPE reach $1, but when you look at the numbers, it is essentially impossible. Let’s examine why this is the case and put simply what it means. First, let’s discuss market capitalization. A cryptocurrency’s market capitalization is essentially its entire worth, which is determined by multiplying the price of one coin at the moment by the total number of coins in circulation. It would take a market valuation of roughly $420 trillion for PEPE to hit $1. For comparison, this amount is far higher than the global GDP (Gross Domestic Product), which is approximately $100 trillion annually. In other words, a $420 trillion market cap for PEPE is not only unattainable but also unthinkable.  PEPE/USDT Chart by TradingView A sum of money that is not even present in the world economy would be needed. Such a valuation has not been approached by any one company or asset. The market capitalization of Bitcoin, the most valuable and well-known cryptocurrency, is less than $1 trillion, while the entire cryptocurrency market is currently worth just over $1 trillion. PEPE is also a meme coin, which means that rather than having a strong foundational value, its main motivation is social media hype and trends.  Related Meme coins like PEPE lack the infrastructure and…

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Filed under: News - @ November 16, 2024 9:22 am