APE Coin growth thesis valuation

Bored Apes NFT project official ApeCoin token was launched on Coinbase and it immediately reached $32.

At the time of writing this idea, the price is around $14, but extremely volatile.

The growth thesis that i have comes from the initial price of the APECOIN on Coinbase, $32.
At 14usd the market cap of APE is around $4Bil and the fully diluted mk cap $14Bil.
At 32usd the circulating supply was $9.14Bil and the total supply around $31Bil.

My expectation is that APE could have the highest valuation similar to DOGE and SHIB, which it shouldn`t surpass.

Now the mk of DOGE is $15.6Bil with the same circulating supply as the total supply.
SHIB has a mk cap of 12.2Bil and a total supply of equivalent to $13.1Bil.

So this is the highest valuation that i think APE can reach market cap wise.

The downside is $6.3 - $7

Looking forward to read your opinion about it.