While meme tokens such as Dogecoin and Shiba Inu continue to be supported by the world’s leading exchanges and companies, striking statements came from Glenn Hutchins, co-founder of technology-focused company Silver Lake Partners.
Glenn Hutchins said on CNBC’s Squawk Box on his market outlook for 2022 that “2022 will be a tough year for Dogecoin and other meme tokens.”
Hutchins suggested investors sell their Dogecoin and meme tokens before 2022.
“We move into a situation where interest rates are increasing, easy money is turned off,” says Glenn Hutchins on his predictions for 2022. “Dispose of the frothy end of the market breast stocks…. #dogcoin” pic.twitter.com/cKF3Obbg32
— Squawk Box (@SquawkCNBC) December 17, 2021
Drawing attention to the increasing interest rates in the world, the technology investor stated that as interest rates continue to increase, food and fuel prices will increase and emerging markets, especially countries such as Brazil, Russia, Egypt and Mexico, will suffer.
Dogecoin and Shiba Inu Continue to Grow!
Although Glenn Hutchins stated that Dogecoin and other meme tokens will lose their popularity in 2022, Tesla CEO Elon Musk recently announced that Tesla will accept Dogecoin as a payment method.
Likewise, another meme token, Shiba Inu, is supported by another company every day. Lastly, Shiba Inu, which was accepted by crypto gaming giant Nexon, was also listed by Spain’s largest exchange.
Uncoin, dubbed the Coinbase of India, also recently announced that it has listed both Dogecoin and Shiba Inu.
*Not investment advice.