Memecoins Like DOGE, SHIB, and PEPE Have Come To Stay – Mike Novogratz
Release: 2024/06/13 05:44 Reading: 530
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=202053
Memecoins: A Cornerstone of the Crypto Economy
Galaxy Digital executive Mike Novogratz believes that memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE will continue to be a significant force in the cryptocurrency space.
Novogratz describes memecoins as a cornerstone of the crypto economy, highlighting their growing influence in the broader cryptocurrency sector. He notes that memecoins have emerged as one of the most compelling narratives in the market, competing with established financial assets.
According to Galaxy Digital research, the aggregate market capitalization of memecoins currently exceeds $60 billion. Analyst Zack Pokorny defines memecoins as tokenized representations of internet memes or other humorous events or concepts.
"The growth of memecoins suggests that communities, cultures, and groups are increasingly relying on monetary instruments for cohesion and speculation," Pokorny observes in a research note.
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