Dogecoin and Shiba Inu have been flooded with investors in recent years. In some periods, there were price increases that are really hard to believe. Analyst Steffen Rathmann evaluated the future of DOGE and SHIB.
Looking at both Dogecoin and Shiba Inu tokens, we see that there has been a fluctuating popularity recently. Steffen Rathmann talked about the positive and negative arguments about the future of these coins.
According to Rathmann, Dogecoin, which has managed to hold on to the crypto money market for 8 years, proves that meme tokens can be successful in the long run. Similar to DOGE, there is little doubt that the Shiba Inu can experience this kind of long-term development.
According to Rathmann, the recent corrections were indeed violent, but such a decrease was expected due to the price increases experienced last summer. In addition, the price drops experienced by Dogecoin and Shiba Inu were not extreme. Both cryptocurrencies are still at the top of the list of the world's largest cryptocurrencies.
According to the analyst, the FOMO situation, which is described as the fear of missed opportunities among investors, still exists. That's why Rathmann believes there could be a spike in buying after the first signs that meme tokens are starting to move in the bull's favor. According to the analyst, this upward mechanism will not change in the coming years.
Joke coins like DOGE and SHIB gained great popularity in 2021, with Elon Musk constantly talking about these two cryptocurrencies on social media and especially on Twitter. According to the analyst, this popularity is currently eroding and it may be difficult to regain.
In addition, Rathmann thinks that since other meme coins other than DOGE and SHIB have not been very successful, such cryptocurrencies may not be successful without outside support and may face difficulties in the future. Rathmann thinks that cryptocurrencies with real usage areas such as DeFi, NFT, Metaverse may have an even greater advantage in the future against joke coins that rely on short-term rises only through popularity.