The post DOGE And SHIB: The ‘Valueless’ Bubble That Refuses To Burst, Says Mark Yusko appeared first on Coinpedia Fintech News
In a recent interview with Blockworks, hedge fund veteran and well-known investor Mark Yusko criticized the rise of meme cryptocurrencies such as Dogecoin and Shiba Inu, saying that they are driven by speculation and excitement and lack any real value or utility. He believes that these tokens should go to zero and warns that their market caps have been built for “nothing.”
Yusko argues that these cryptocurrencies are being fueled by hype and that their current value is unsustainable. He warns that investors who have bought into the hype may eventually lose significant amounts of money as the market comes to the realization that these tokens have no real-world applications or tangible goods to back them up.
Despite his criticism, Yusko acknowledges that many investors continue to hold onto these assets and have made significant profits from them. He attributes this to the fact that early investors have committed not to sell, and that the market is being propped up by collective optimism and hype.
However, Yusko believes that a market slowdown or increase in interest rates could lead to a collapse in the value of these meme tokens. He argues that investors tend to avoid speculative investments during periods of economic uncertainty, which could drain “free money” from the system and cause the value of these tokens to plummet.
Overall, Yusko sees the rise of these meme tokens as a collective illusion that is unsustainable and warns that investors who are caught up in the hype may eventually suffer significant losses.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks