Which Crypto Will Reach $1 First
The meme coin market has exploded since 2021, with joke cryptocurrencies like Dogecooin (DOGE) and Shiba Inu (SHIB) producing exponential gains.
While DOGE and SHIB get most of the attention from retail traders on social media, Ripple’s XRP has gained momentum following the company’s high-profile legal win over the SEC.
This article discusses which of these three cryptos could reach the coveted $1 mark first before presenting an alternative coin that may also be primed to reach that level.
Can Dogecoin or Shiba Inu Realistically Hit $1?
Can DOGE or SHIB ever hit $1? This question has been debated over the past two years, capturing the attention of investors seeking life-changing returns.
For Dogecoin, currently trading around $0.076, this would require a market cap of over $141 billion based on the coin’s circulating supply.
While not impossible, given the irrational exuberance around meme coins, it would likely require a significant change in how mainstream investors perceive DOGE.
For example, if DOGE were to be integrated into X (formerly Twitter), it would provide a clear reason for investors to buy and use it – potentially driving up its price over time.
For Shiba Inu, the path to $1 is even more challenging with a circulating supply in the trillions.
Without an enormous one-off token burn event, SHIB reaching $1 would require a market cap of over $589 trillion – highly unlikely without a fundamental shift in its tokenomics.
Why XRP Appears Most Likely to Reach $1 Next Among Major Cryptocurrencies
While Dogecoin and Shiba Inu face steep climbs to reach the $1 mark, for XRP, the path looks more achievable.
Currently trading around $0.69, XRP would only need to gain around 41% to hit $1.
With a more reasonable circulating supply of just over 53 billion tokens, its market cap reaching $53 billion needed for $1 XRP is within the realms of possibility.
Moreover, as the native token of the Ripple payment network, XRP benefits from growing real-world utility and adoption for cross-border payments and liquidity management.
Major partnerships with financial institutions are possible and could help ramp up demand for XRP.
Although the ongoing litigation with the SEC has been a drag, this seems to be behind Ripple now – clearing the path forward.
All in all, out of the three cryptos mentioned, XRP is the most likely to reach the $1 level first.
The token has been valued at $1 as recently as December 2021, and with DOGE and SHIB having never reached that milestone, the odds favour XRP hitting it again before either of the meme coins.
Which Other Cryptos Could Potentially Reach $1?
While DOGE, SHIB, and XRP all battle to become the first to trade at $1, retail investors are fascinated by the prospect of smaller altcoins exploding to that level.
One such crypto that has captured the attention is Meme Kombat (MK), a new meme-inspired gaming token aiming to capitalize on this interest.
Can Meme Kombat’s Trending MK Token Be the Next to Hit $1?
Meme Kombat is an Ethereum-based project combining the popularity of memes with battle-arena gaming.
This battle arena is Meme Kombat’s core feature, allowing players to bet on AI-powered fights between characters like Wojak and Doge.
Users can bet on the outcomes of these battles using MK, Meme Kombat’s native ERC-20 token, with winners earning more tokens and other rewards.
Meme Kombat also allows users to stake their MK to earn passive income rewards of 112% APY.
The total supply of MK is set at 1 billion, with 50% reserved for the presale, 30% for battle/staking rewards, 10% for liquidity, and 10% for community rewards.
Meme Kombat’s presale is now ongoing, with MK tokens available to purchase for $0.183.
However, the presale takes a tier-based approach, meaning the available MK price will increase slightly every few days.
As outlined in Meme Kombat’s whitepaper, once the presale concludes, the developers intend to list MK on DEXs like Uniswap to democratize access to the token.
Many early members of the Meme Kombat Telegram community believe this could catalyze a price pump – potentially to the $1 level.
For MK to reach $1 from its current price, it would require a 434% increase, which is realistic with trending meme coins.
Prospective investors can buy MK tokens through the presale at memekombat.io using ETH or USDT.