Not just shiba, but there's a dozen different others I think.
I tried a couple of them, just to see how they behave in this bear market.
To my surprise one of them was 20% in profit last time I checked ( after about a month ) the other one $50 in profit after one day. Not bad !
But to be honest I don't think I would put any money on Doge or Shiba... they're already far too high in the rankings.. way... way higher than they deserve. The best gains are made when your meme coin is ranked #800 or somewhere around there
I tried a couple of them, just to see how they behave in this bear market.
To my surprise one of them was 20% in profit last time I checked ( after about a month ) the other one $50 in profit after one day. Not bad !
But to be honest I don't think I would put any money on Doge or Shiba... they're already far too high in the rankings.. way... way higher than they deserve. The best gains are made when your meme coin is ranked #800 or somewhere around there
Don't be surprised since Dogecoin's success has led developers to create coins of their own as a means for profit. Everything is open source and decentralized in crypto/Blockchain land, so there's nothing stopping devs from launching new coins on a daily basis. What really matters is utility, not the hype. There are so many "meme" coins, but the majority of them (if not all) are useless. They bring no real use cases to the world, unlike Bitcoin or Ethereum. Such coins are usually driven by hype, so anything or anyone that would make it popular would certainly have a positive effect over its price.
I'd only use "meme" coins for quick trades or as a short-term solution for sending small amounts of money to people across borders. But not as a serious long-term investment. As long as you don't spend all of your life savings into "meme" coins, there should be nothing to worry about. Just my thoughts