Meme currencies such as Shiba Inu, Dogecoin, and Mononoke Inu have no underlying fundamentals that could have predicted their stellar growth.
In other words, they’re not like a corporation that has a monopoly on its industry and has seen its stock price skyrocket.
Many people claim to be adorable, yet they do not have an exact purpose. They go on to say that some cryptos genuinely serve a function. For example, Ethereum is a platform that enables financial transactions to be validated and kept without the involvement of a third party such as a bank.
The growth of meme currencies, on the other hand, demonstrates how strong average investors can be when they join together on Reddit or Twitter. If there is enough interest in crypto, and additional investors join in, the value of that coin will continue to rise.
In my experience, whenever I see the hype about a meme coin on Reddit or Discord, I put a small portion of my portfolio into it in case it skyrockets, as I did with Mononoke Inu and Shiba.
What are your thoughts on meme coins? https://coinmarketcap.com/currencies/mononoke-inu/