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A coin being worth under $1 doesn't mean it is undervalued or has potential

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by COINS NEWS 191 Views

I don't know who needs to read this, but just because a single coin's value is a fraction of a fraction of the value of, say, ETH does not mean it is undervalued or has potential. If it has a trillion or even a few billion coins in circulation, it has done incredibly well to be even close to $1. The closest to a true reflection of a project's worth is its market cap (and much of the time this will be inflated to a great extent anyway); that's the number of coins in circulation x the current price of a single coin. Let's consider Doge (yes, i know). At the time of writing, a value of a single coin is $0.142; there are 132,670,764,300 coins in circulation; 0.142 x 132,670,764,300 = 18,839,248,530.6. Yes, over $18 billion. Undervalued? At $1, Doge would have a market cap of over $130 billion (for reference, McDonald's has a market cap of around $187 billion). Yeah...

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