Given the large circulating supply of tokens, Floki Inu can’t reach $1. If it were to reach that price, its market cap would exceed $9.5 trillion, which is nearly 4 times more than the combined value of digital assets. In recent months, we’ve seen a massive spike in investors’ interest in cryptocurrencies. Case in point, the total crypto market cap has grown from $1.67 trillion to $2.76 trillion since the start of the year. A part of the crypto market that has garnered a disproportionate share of attention is definitely meme coins, many of which have increased in value by hundreds of percent.In this article, we will examine the likelihood of Floki Inu reaching $1 and consult our algorithmic price prediction algorithm to see what the highest price FLOKI might reach in the coming months could be.No, Floki Inu can’t reach $1 unless something fundamentally changes in its tokenomics. The reason for that is simple: Floki Inu has a circulating supply of $9.55 trillion, which means that at $1, the meme coin would have a market cap of $9.55 trillion. At the moment, Floki Inu is changing hands at $0.00027 and boasting a market capitalization of $2.58 billion. That means that the price would have to increase by more than 3700x to reach $1. The amount of money needed to facilitate that price growth is tremendous and completely unreasonable to hope for.While it’s true that FLOKI has grown by 24,200% since it first started trading in 2021, it’s something completely different for a token to increase by 242x when it has a small market cap than when it has a market cap in billions of dollars.Floki Inu could potentially reach 1 cent, but expecting it to happen is nothing more than wishful thinking. While a $1 price market is completely out of the question, the meme coin has a theoretical chance of hitting 1 cent. At 1 cent per token, FLOKI would have a market cap of $95 billion, which is roughly equivalent to the market cap of Tether, the largest stablecoin in terms of market capitalization. For additional context, Dogecoin, the original and most popular meme coin, had a market cap of $75 billion at its peak during the 2021 bull run. In other words, FLOKI would have to surpass the market cap of the most popular meme coin ever by $20 billion in order to achieve 1 cent price point. You be the judge of how likely that is to happen.To make things easier to visualize, check the following table with some notable price points for FLOKI and their corresponding market cap, as well as required price increases:*Price at the time of publication.It’s worth noting that there’s another way how Floki Inu could increase in value without requiring a market cap in excess of $10+ billion. If the project were to employ a token burning program, our previous assumptions would go out of the window. If enough FLOKI tokens were removed from circulation, the coin could reach much higher price milestones without needing a massive inflow of new funds. In that case, the exact scope of a potential price increase would depend completely on the share of tokens that would be destroyed.Let’s proceed by taking a look at short-term price predictions for Floki Inu. The algorithm forecasts a positive near-term trend, with the meme coin growing by 370% and hitting $0.00127 by mid-April. The potential price peak coincides with the next Bitcoin halving, which is widely regarded as one of the most important price catalysts for cryptocurrencies.After the initial surge, the price of FLOKI could retrace below $0.00055 by the second half of 2024 before regaining momentum and settling around the $0.00075 mark 12 months from now.Many beginner investors hold the belief that assets with lower prices offer greater opportunities for growth than those with higher prices. They see meme coins priced at tiny fractions of a dollar and think that these have a simpler route to increasing in value compared to cryptocurrencies that are already valued at, for example, $10. Nevertheless, the actual price of an asset doesn’t necessarily reflect its growth potential.Rather, market capitalization should be the focus. For example, even if an asset with a market cap of $1 million were to increase by 1000 times, it wouldn’t break into the top 100 cryptocurrencies by market capitalization. On the other hand, a project like Floki Inu, which currently has a market cap close to $2.6 billion, would escalate to $2.6 trillion if it experienced a 1000x growth. To put this into perspective, the total market cap of all cryptocurrencies is currently $2.67 trillion, leaving it to you to decide how feasible such an outcome might be.If you want to read about other meme coins and their price potential, check out our other articles covering similar topics:
