The rise of meme coins such as Dogecoin (Doge) and Shiba Inu (Shib) was one of the most striking stories in the crypto history. As the wider market grows up, however, analysts wonder if meme coins can ever experience the type explosive growth Seen during the bullcycles of 2017 or 2021.
Is the meme coin high?
Well-known crypto-commentator Whalefud has claimed that the golden days of Meme Coins may have ended. According to him, the crypto industry is aged further than the speculative hype -cycles ever Dreef retail investors and traders in Meme Coins Such as Dogecoin and Shiba Inu.
In his message on X Social Media, Whalefud assertions That expecting “another run as in 2017 or 2021” is pure copium. He compared this expectation to insist that “Counter Strike 1.6 is the best game ever”, while in reality the industry has shifted to newer projects where all players and real action take place.
He also noticed that many in the crypto space still wait for “the biggest meme coin of all time” to appear in this cycle. However, he warned that this belief or hope is misplaced, and explains that Meme Coins have already reached a peak and that their average market capitalization will probably continue to fall in the future.
Whalefud’s vision of meme coins emphasizes a fundamental challenge in their dependence on hype about Sustainability and lasting value. While institutions have it more and more often Embraced Bitcoin and EthereumMeme -based cryptocurrencies continue to struggle to establish long -term use or a value proposition that goes beyond viral hype.
Technical prospects for Dogecoin and Shiba Inu become Bearish
Recent technical analysis of crypto experts suggests that Dogecoin and Shiba Inu may be among his Significant bearish. Elliott Waves Academy on X reported This intense sales pressure has pushed Doge into a bearish channel, which points to a potential drop to the level of $ 0.21, with a clear downward wave structure that reinforces the trend.
This suggests that Dogecoin can be confronted with further decreases Before a corrective upward movement is standing. It also indicates a cautious prospect, even if Doge remains the largest meme coin per market value.
In the meantime, Shiba Inu is confronted with an identity and Technical challenge. Crypto analyst Zach Humphries has criticized The growing complexity of the ecosystem and the ‘water feature’ and said that it has strayed from the simplicity and bullishness that once made it attractive. He emphasized that Shiba Inu was once centered around his indigenous token, Shib and the administrative stips, bone. Since then, however, it has been extended to multiple tokens and initiatives, which creates confusion for investors and reportedly weaken his core identity.
While Shib retains its position if The second largest meme coinHumphries notes that the busy crypto market and the recent internal restructuring of the Meme Munt make it more difficult for its prize in an industry driven by institutional investors.
Featured image of Getty Images, Chart van TradingView.com
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