The post Big Crypto Gamblers Turn Away From Dogecoin & Shiba Inu Memes As Much Better Opportunities Present Themselves appeared on BitcoinEthereumNews.com.

One day a memecoin is about a frog, then another is tied to a celebrity, a dog or even farts. Memecoin price action can be a fun rollercoaster ride but also very risky. Let’s figure out why big crypto gamblers are leaving Dogecoin and Shiba Inu for budding projects like 1FUEL. Dogecoin (DOGE): A striking pearl in memecoin wonderland Dogecoin has been sliding from an early December peak of around $0.46 to $0.31 on 27th January. While this isn’t bad (it’s still nearly 3X in under 6 months), we should consider the typical Dogecoin investor profile. Many Dogecoin investors don’t like holding on to such a coin for too long. With memecoins, many want to be in and out quickly, but timing a massive rally isn’t that easy. For Dogecoin investors, it gets even harder when Bitcoin has been pumping or is trading sideways. Many fear that another abrupt move upward in such a large-cap coin can quickly steal market cap from several altcoins. Remember, memecoins are often hit the hardest. And while Dogecoin is present in the payments space, it lacks a unique selling point or pending development that would make demand quickly outstrip supply. This is why many speculators are being more cautious with Dogecoin right now. Shiba Inu (SHIB): A survivor in memecoin battlegrounds Shiba Inu’s troubles aren’t that different from Dogecoin’s. However, Shiba Inu technology has been spreading its wings into DEXs, NFTs, the metaverse and more. So, while its price action is similar to Dogecoin’s, it might have a little more luck narrative-wise shortly. Shiba Inu’s Shibarium, Shiboshis and other dApps have helped sustain activity, but it’s nowhere near enough to justify large allocations in the near term. However, utility is never the only factor in memecoin markets. Shiba Inu technology could experience some out-of-nowhere…

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Filed under: News - @ February 1, 2025 4:23 pm