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Tokenomics and investing question

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by COINS NEWS 55 Views

The table below shows the statistics for a coin (market cap, total supply, etc):

Market Cap $151,962,975 Fully Diluted Valuation $329,968,694 24 Hour Trading Vol $29,701,928 Circulating Supply 17,024,201,721 Total Supply 36,965,935,954 Max Supply 36,965,935,954

It's current price is around $0.009. The market cap of the parent blockchain is currently around $2.5 billion.

  • Can someone explain how this coin can go beyond $0.15? From what I can tell, that seems to be a practical limit---if the coin's market cap equals the parent blockchain's market cap of $2.5 billion, assuming the circulating supply stays the same, then that implies a price of around $0.15, (price x circulating supply = market cap).
  • From what I can tell, the parent chain would have to blow up significantly to allow a larger market cap.

FYI the coin is DEGEN and the chain is BASE. I'm just trying to wrap my head around the hype/FUD.

submitted by /u/bestjaegerpilot
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