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Why Shiba Inu, PEPE, Dogecoin Are Far From Done: Expert
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Meme Coin Mania: Why Shiba Inu, PEPE, Dogecoin Are Far From Finished

Jake Simmons
Jake Simmons
1 year ago
3 mins read
Meme coin mania Shiba Inu PEPE Dogecoin

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As the crypto market experiences another wave of fervent enthusiasm, meme coins like Shiba Inu, PEPE, and Dogecoin have surged to the forefront of investors’ minds. With PEPE leading the rally at a staggering 371% increase, Dogwifhat (WIF) at 351%, FLOKI at 331%, BONK at 182%, and Shiba Inu (SHIB) at 177% over just the last seven days, the phenomenon has caught the eye of both enthusiasts and skeptics alike.

Meme coin mania
Meme coin mania | Source: Coinmarketcap

Why Shiba Inu, PEPE, DOGE Will Continue To Rally

Andrew Kang, co-founder and partner at Mechanism Capital, offered a deep dive into the dynamics fueling this unprecedented meme coin frenzy. Kang, sharing his expert analysis on X, articulates the foundational appeal of meme coins: “People are really calling top on meme coin season when BTC hasn’t even crossed ATH yet. Meme coins are a global shelling point for speculative liquidity.”

He stresses the accessibility of meme coins as a crucial factor in their explosive growth, positioning them as more globally accessible than any traditional stock. This accessibility, combined with a universal speculative interest, has led to Dogecoin’s significant outperformance compared to phenomena like the GameStop stock frenzy.

The historical context Kang provides is telling of the potential he sees in this cycle. “Total Meme coin market cap last cycle was $100 billion last cycle, and we usually get multiples on market cap highs every cycle,” he notes, suggesting that the current market conditions are ripe for surpassing previous records.

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His insights reveal a broadening demographic of meme coin investors, including high-net-worth individuals, hedge funds, and even traditional financial institutions, all drawn in by the speculative allure and community-driven narratives of these assets.

Meme Coins Are A Skill-Based Lottery

Kang’s perspective on the meme coin ecosystem is particularly illuminating. He likens it to a “Skill-based Global Lottery Platform,” where success is part skill, part community effort, and part viral momentum. “We are going to reach some serious levels of mental retardation for memecoins this cycle […] And the more people that they get to buy the same tickets at them, the more likely they and their friends win – that’s the best feeling – winning together,” Kang elaborates. This communal aspect of meme coin trading, combined with the thrill of speculation, underscores the unique appeal of meme coins as both a financial instrument and a social phenomenon.

Expanding on the potential scale of meme coin growth, Kang draws an ambitious parallel with the global lottery industry, which boasted $300 billion in sales in 2020. “Now imagine the valuations of memecoins if a capital injection of that scale were to flow into them,” he muses, positing a future where meme coins command a significant portion of global speculative investment.

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Kang also critiques the broader cryptocurrency market, suggesting that the complexity and niche appeal of many projects may limit their attractiveness to the general public. “The masses won’t care about the 4th liquid restaking derivative or whatever fancy new technology […] Memecoins are just a much more pure and upfront speculative vehicle,” he states, predicting that meme coins could outperform more technologically complex crypto assets by a wide margin.

The King Of All Meme Coins

A strong advocate for strategic investment in meme coins, Kang draws an analogy a Bitcoin investment for tradfi investors, suggesting that a small, measured allocation to meme coins could offer disproportionate rewards. “Advocating for a 1-5% portfolio allocation of memecoins is like boomers advocating for 1-5% portfolio allocation of BTC,” he says, emphasizing the blend of high risk and high reward that meme coins represent.

Highlighting Dogecoin’s unique position within the meme coin space, Kang points to its potential for real-world application and celebrity endorsements as key factors in its potential for dominance. “DOGE is the king of memecoins […] Elon is a people’s man and I doubt he keeps his silence on Doge/X payments much longer. […] Sam Altman has 1% float WLD and Elon has DOGE. It is obvious that the AGI will choose the more decentralized currency,” he suggests.

At press time, Shiba Inu traded at $0.00002642.

Shiba Inu SHIB price
SHIB price rallies above the 0.236 Fib, 1-week chart | Source: SHIBUSDT on TradingView.com
Featured image from DALL·E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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