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Analysis

Shiba Inu Coin crushes it but can Meme Coins ever be more than Froth & Frenzy?

Up 50% and headed to 1 cent after hitting all time highs around 0.00004598

DogeCoin has a little sister gone wild, some even call her the “doge-killer”. The weekend was good to meme coins in general and #metaverse is trending on twitter. A snapshot of late 2021 not to be seen again? Perhaps.

There is no doubt that a tsunami of interest, backed by dollars and buying power, has been a rising theme in 2021. The recent new all time highs for Bitcoin and Etherum has been followed this weekend by positive action in the alt coin area.

The 1-year predictions for the future of Bitcoin, still in a class of its own, still range from zero to millions per coin. All this focus on volatility and price vs. the dollar, as we have mentioned often in our commentary and analysis is missing a larger point, which is the question of the ultimate entrenchment of cryptocurrencies into the finance and economics in a way that is permanent and unstoppable, regardless of the vagaries and price action and trading volatility.

The surge in overall action in crypto generally, is clearly based on far more than just speculative furor, über-Celebs such as Elon Musk and Jack Dorsey, not to mention peripheral characters like Mark Cuban and Robert Kiyosaki are not simple “pumping” the area but there are levels of true understanding and appreciation for the real benefits of the phenomena that anyone not biased against all things new can clearly see.

Froth and frenzy are a certainty, but looking beyond are there trends toward more

As my colleague wrote about recently, in his piece, The Future of Crypto, NFTs & The Metaverse, there are bigger and more important trends and metrics afoot than just speculative price action. Much of the excitement about speculative trades is warranted since, hey, who doesn’t want to “win” in trading. But crypto benefits, built into different coins in different ways, go beyond price appreciation.

An example of how the further benefits of privacy, decentralization and removing intermediaries from monetary transactions could be extended further by adding social, eCommerce and network effects based on ever-evolving blockchain technology.

Pi, for example, which is a coin not yet “live” but in testing stages with great potential and over 25 million miners and users, fondly called “Pi-oneers” is a great example of this.

Already built to achieve full realization of the potential benefits above, since being conceived by a team, led by PhDs at Stanford, far from a typical speculative vehicle only (since it is still in its test phase there is not yet a price on which to speculate) the blueprint for Pi’s future is already being mapped for more substance and world-improving features.

Not to knock the massive gains happening in various new coins such as Shiba Inu (SHIB) and others, but for each coin and crypto in general to survive and become a real force to contend with on the world stage, there must be utility and real functionality that is clearly front and center. Beyond just rising prices against the US dollar.

As outlined in the article cited above, it’s the intersecting converging positives that could be linked, between , for example. cryptocurrencies, NFTs and even the metaverse and Web3 that, combined and at more fully realized market potential, could make for the kind of changes in the real world that would warrant the wildly energetic optimism already seen.

So raise a glass and toast to Shiba Inu Coin and the fantastic frenzy that brought it to new and staggering heights, reading the grand pinnacle of 0.00004598 and let’s drink to a future where .1 or even $1 is possible!



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