CIO of Morgan Creek Capital Mark Yuskothe dog-themed meme coins Dogecoin (DOGE) and shiba inuClaims that (SHIB) has no values.
In a recent interview with Blockworks, the leading meme thinks that coins should be reset.
I have to live with it every day. I’m saying that once DOGE and SHIB hit zero, the bear market in crypto will end. They never went down to zero. In fact, they are rising again. And there is no such thing as there. And there’s only one thing: if they really find a use, you’d better watch out.
While preparing the news dogecoinhas a market cap of $12.4 billion and is trading at $0.089. DOGE’s rival, SHIB, ranks 14th with a market cap of $8.2 billion and is valued at $0.0000137.
Yusko says the projects have achieved huge market values “for nothing.”
What is the underlying value? Can you give something to someone to get? No. At least Amazon… they generate profit and cash flow. They found a way to generate returns. Okay, if I had a stake in that company, I could give it back to the company and I would really get something for it. But a breast stake or a breast coin? It has no value.
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Yusko thinks that early investors in meme coins seem to have agreed not to sell to keep the price from falling and to persuade others to buy.
He also says he has always believed that a series of rate hikes by the Federal Reserve to curb inflation will cause meme tokens to crash.
Falcon policy tends to drain “free money” from the system as investors avoid speculative investments during market slowdowns.
All this is an illusion. If you don’t sell and I don’t sell, the price won’t go down. That’s why not everyone sells. In fact, if we can get other people to buy, then the price will go up. As long as we keep persuading people and they buy it, we who act early can sell to them.
Okay, but this had to end eventually and ended with the elimination of free money. But it’s not over.