Geez this thing is so overvalued, $82,000,000 market cap on a meme coin. That's larger than 80% of all tech, mining, biotech, and e-commerce startup companies that are available on stock exchanges. This high of a market cap is usually reserved for biotechs that got FDA approval on their new drug, or mining companies that have found a precious ore, but here we have doge breaking it no problem. World's gone nuts. Whatever, my 195's look good. I'll take it.
Yes, but you need to understand the incorrect value of the way all of these coins have a market cap determined. They put the value of the current price on each and every share. That means that each share would be worth the current market price, which we all know is not the way it works.
So, to inflate the value of a crap coin, or even BTC, you need to control a good portion of the coins, and simply deal with the other coins being sold more than bought. It's quite a simple process, assuming you have the funds behind it to control it. The hard part is it requires an extreme amount of patience, as time is what makes most people believe the current market value, and once they believe, that's when profit comes for the person manipulating.
So, before looking too closely at market caps for ANY coins, ask yourself how many coins would it actually take for the value to drop significantly? That, is much more important than market cap. In fact, look at what happened to BTC on BTC-e...
Dropped to 100 with a 4000 coin fat finger. Be wary of illusion, and temper greed with logic.
Yup , but also the drop was for only a few seconds and orders were back in a matter of minutes.
Will the same happen for other coins ? That is the question. Some of them might even die with such a drop.