PEPE is currently sitting at a price so low that it has five zeros on it, which is around $0.000007855.
But just like any other community, the PEPE community seems to be eagerly waiting for its price to reach $1.
In this article we will talk about what would it take for PEPE to reach $1 and is it even possible to be accomplished, even in the bull market?
What Would it Take for PEPE to reach $1?
Currently, PEPE has a market capitalization of around $3.29 Billion which is not bad compared to other meme coins that still stands at around millions of dollars in market capitalization.
To analyze whether it is possible for PEPE to reach $1 we have to take a look at the current market capitalization and the future market capitalization of PEPE if the price goes as high as $1.
To calculate the market capitalization the usual formula that most people use is to calculate the price times the maximum supply.
The maximum supply of PEPE currently sits at 420.69 Trillion which is huge compared to other regular cryptocurrencies but not so strange if compared to most meme coins.
Looking at the maximum supply of PEPE, if the price goes to $1 that means that the market capitalization of PEPE would stand at around $420.69 Trillion.
Is it Even Possible?
Comparing it to other cryptocurrencies, this seems impossible, even looking at the crypto with the highest market capitalization in the crypto space which is Bitcoin.
Bitcoin currently has a market capitalization of $1.3 Trillion which is so far away from $420.69 Trillion that it makes it impossible for PEPE to reach $1 with its current maximum supply.
To compare with the whole market, currently the crypto market only has a little over $2 Trillion of market capitalization, that is contributed by the overall cryptocurrencies in the market.
However, the idea of PEPE reaching $1 might not be so far fetched if things change, specifically if there is a burn mechanism involved.
If the maximum supply of PEPE got lowered to around a couple of hundred millions or maybe a couple of billions then maybe PEPE can reach $1.
For example, if the burn mechanism applied was to lower PEPE’s overall maximum supply to 1 Billion then if PEPE reached $1, the overall market capitalization would reach $1 Billion.
$1 Billion is currently the most common market capitalization for cryptocurrencies ranking 50 or lower, which is why it is possible if PEPE got its maximum supply down it would reach $1.
Conclusion
For PEPE to reach $1 it would take a huge amount of its maximum supply to be burnt or disappear into a dead wallet.
But, looking at the PEPE community, its seems that there are no plans yet for the burn mechanism to happen aside from developers and the community members sending PEPE to a dead wallet.
For PEPE to reach $1 it would probably have to get the developers to create a new product supporting the token.
If there is a new product, then the adoption rate of PEPE might increase and might prompt new burn mechanisms to prevail.
Looking at other popular meme coins that have the same popularity and growth as PEPE, such as DOGE and SHIB, it would probably take a long time for a new plan to be unveiled.
Also looking at those cryptocurrencies even after a new product unveils, it is still not that easy to reach $1 considering the market volatility and new projects taking the investors interest.
So if you are waiting for PEPE to reach $1, don’t bet your life savings on it as it will probably only happen maybe when you are old, and that’s with luck on its side.
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