Shiba Inu and Dogecoin are joke tokens with a capitalization of billions of dollars. Experts explained why such coins are popular and whether it is worth waiting for the emergence of new cryptocurrency memes
Among the largest cryptocurrencies in terms of capitalization, there are several "meme" tokens at once. For example, Dogecoin is in ninth place with an estimate of $ 37 billion, Shiba Inu ($ 31 billion) – 11. At the same time, altcoins continue to be in demand – on November 7, an unknown person acquired 20 trillion SHIB for about $ 1.15 billion.
There are many comic cryptocurrencies out there. Most of them are based on the conceptual game around Dogecoin or Elon Musk. For example, there is a Floki coin named after a billionaire puppy. There is also an altcoin called Dogelon Mars, the creators of which tried to collect both trends in one name.
The paradox of "meme-coins" illustrates the very essence of market relations – the value of any asset or liability is exactly the amount for which they are willing to buy and sell, explained Nikita Zuborev, senior analyst at Bestchange.ru. According to him, there is no fundamental reason for evaluating "memecoins", like other cryptocurrencies and even national currencies.
“There are indicators that investors rely on when assessing future demand, but not a single currency in the world has a real physical fixed value,” the expert emphasized.
The success of Dogecoin or Shiba Inu lies in the fact that people are greedy for everything new and unusual, added Artem Deev, head of the analytical department at AMarkets. He is sure that if tomorrow it becomes fashionable to popularize "La Gioconda" by Leonardo da Vinci, it is guaranteed that there will be many tokens based on this image.
Investing in such tokens is akin to collecting stamps or antiques – the value of such assets makes sense among a narrow circle of "collectors" -investors, Deev argues. Hype, excitement, stimulation of the growth of such coins by the same Elon Musk are short-term speculations, where for most investors such investments only bring losses over time, and only knowledgeable people make a profit, the expert noted. He predicted that even if the popularity of Dogecoin and Shiba Inu declined over time, new meme projects would emerge with varying degrees of success.
The popularity of meme coins is explained by one simple fact – the dream of quick and huge profits, says Maria Stankevich, Development Director of the EXMO crypto exchange. In her opinion, it is impossible to predict the value of such coins, which means that for many it becomes a "green light" for speculation.
“Nobody can make forecasts on the quotes of the“ meme ”tokens. Their cost directly depends on the hype created by influencers. That is why it is difficult to predict an unambiguous rise or fall, ”explained Stankevich.
You can invest only for the sake of speculation – if you have some information or are confident in the future "pump", then there is an opportunity to earn money, but I never recommend entering such projects, the expert warned. She admits that in the near future we can expect other "memorial" coins, since the interest in such projects does not fade away.
According to analyst Zuborev, the success of comic cryptocurrencies will continue as long as the long-term “bullish” trend of the entire cryptocurrency market remains. The expert singled out Dogelon Mars and Floki-Inu from projects that have the ability to show a certain growth:
Dogelon Mars has a high social resource and tries to parasitize as much as possible on the Musk brand, the expert noted. The token was among the first hundred cryptocurrencies in terms of capitalization and may continue to grow, Zuborev believes.
Floki-Inu has a smaller community and capitalization, but the creators have positioned themselves for a major marketing campaign. Therefore, the prospects for the growth of the community and the recognition of the altcoin are high, the analyst concluded.