Former Goldman Analyst Predicts Dogecoin (DOGE) Will Be Flipped by Another Meme Coin This Year
Release: 2024/08/23 02:34 Reading: 994
Dogecoin Faces Potential Overthrow by Rival Meme Coin in 2024
Former Goldman Sachs analyst Murad Mahmudov has predicted that Dogecoin, the prominent meme cryptocurrency, could be surpassed by another meme coin in 2024. He suggests that Dogecoin's dominance may be challenged, sparking speculation about potential successors.
Currently, Dogecoin remains the only meme cryptocurrency within the top 10. However, Shiba Inu (SHIB) briefly surpassed it on CoinGecko in October 2021, though its surge was temporary. Dogecoin continues to hold a significant lead over SHIB, with market capitalizations of $15.3 billion and $8.3 billion, respectively.
Other meme coins that have emerged include Pepe (PEPE) and dogwifhat (WIF), but their valuations pale in comparison to Dogecoin's.
Some experts question the feasibility of any meme coin surpassing Dogecoin's established position. The gap between Dogecoin and its rivals is substantial. Additionally, Dogecoin's inflationary nature, with a steady supply expansion, supports its function as a currency and potentially provides an advantage over non-inflationary meme coins.
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