Is low or high circulating supply better?

When it comes to cryptocurrency, many investors wonder if a low or high circulating supply is better. On one hand, a low circulating supply may indicate scarcity and potential for appreciation in value as demand increases. However, a low supply can also make the market more volatile and less liquid. On the other hand, a high circulating supply may suggest greater availability and accessibility, but it may also limit the potential for significant gains. So, which is better? It depends on the individual investor's goals and risk tolerance. Can you explain the pros and cons of both low and high circulating supply in more detail?