Top Trader Believes This Dogecoin, Shiba Inu Rival WIll Go To ‘Zero Eventually’

Cryptocurrency traders with the most followers Don Alto Bearish outlook for meme coins, Dogwif Hat WIF/USD Especially as someone who has poor grades.

what happened: Donalto noted that DogwifHat has underperformed compared to other meme coins despite its large market share. “If you’re bullish, you’re mispriced to the downside by a lot. If you’re bearish, everyone who was going to buy has already bought,” he said.

DonAlt believes Dogwifhat’s ultimate goal is zero, “but that’s the same for almost all altcoins.” He suggested that while there may be short-term gains, the long-term outlook for these coins is bleak.

he Hospitalized While some say the memes will have immediate positive results, “they will be hard to revive given the negative impact they will accumulate over time as bag owners get angrier and angrier,” the trader concluded. “In the long run, they will all gravitate towards ghost chains with zero trading volume, which is essentially zero.”

Crypto trader Cryptomist agreed. Predict Dogwifhat down 30%.

Also read: Dogwhiskey Hat and Pepe will do the same as Shiba Inu and reach billions in 2021, traders predict

Why is this important: DonAlt’s comments reflect growing skepticism towards meme coins in the crypto community. dataFour of the top five meme coins have fallen between 25% and 40% in the past 30 days. Bonk Bonk/USD The only exception is a 4% drop.

Latest Cryptocurrency Exchange Statistics Kraken This indicates a growing demand for new meme coins such as Pepe PEPE/USDDogwhistle hat and bonk in Australia. Data shows report According to The Block, around 2.65% of Australian users hold Pepe, which is almost double the global average of 1.49%. Similarly, 1.58% of Australian investors hold WIF, compared to the global average of 0.45%.

What’s next?: The impact of meme coins and Bitcoin as an institutional asset class will be explored in depth at Benzinga’s “The Future of Digital Assets” event on November 19th.

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This content was produced in part with the help of AI tools and was reviewed and published by Benzinga editors.

Image created using Midjourney’s artificial intelligence.

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