Meme Coins entered the market of cryptocurrency as a joke. These assets are changing the story by showing their abilities. Some assets have been able to transform the fortunes and lives of individuals. Dogecoin is not the only cryptocurrency. [DOGE] Shiba Inu is the original meme currency. [SHIB] It is becoming more popular and preferred by investors. The assets are volatile, causing a certain level of concern. Mike Novogratz is the CEO and founder of Galaxy Digital. He has an entirely different view on memes.
Novogratz’s apparent preference towards memes was evident when he spoke of their significance. It also reflects a shift in the sentiment of the market towards these assets. Illustrating how many meme coin users are making money, he also revealed the number of people who have done so. Galaxy Digital CEO, revealed his son-in law as one of those people. The CEO added:
“Yeah, my son-in-law is a great meme investor, I didn’t think there was such a thing until I met the guy, and he just keeps making money, he never sells, he loves Doge, he loves Dogwifhat.”
Dogecoin’s market cap is currently $20 billion. Shiba Inu comes in second with $12.77billion. Novogratz cited Solana as the source of Solana’s dogwifhat. [WIF] The market for meme coins is estimated to be worth $60 billion. Meme coins are a result of factors like these. “cornerstone of the crypto economy.”
Also Read: Shiba Inu: How Much Profit Can Buying the Dip Get You?
What country is embracing meme coins?
A CoinGecko study shows that the U.S. led the way in the popularity of meme coins back in 2023. In the study it is noted that 23.6% or these assets are owned by the United States. Shiba Inu became one of the top memes in America in 2023. The country generated interest of 60.7% on the asset.
This is a major game changer for Millennials as well as Generation Z. This two group also make up an enormous chunk of the crypto market.
Also Read: Shiba Inu: Top Analyst Issues Last Buy Call Before SHIB Surges 501%
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Source: watcher.guru