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Despite Lacking User Utility, Dogecoin (DOGE) and Shiba Inu (SHIB) Have Massive Market Caps: Charles Hoskinson -Breaking

by Mike Robinson

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Charles Hoskinson reports that despite not having any user utility, Shiba inu (SHIB), and Dogecoin(DOGE), have large market caps.

The 2021 crypto market was a great year, growing from $750billion to $3 trillion.

Most cryptocurrencies have doubled in value by 2021. However, the most successful cryptocurrencies, such as cryptocurrencies like (DOGE and (SHIB), have seen some remarkable gains.

Charles Hoskinson (the founder of ) has offered his views on these meme coins.

Hoskinson Discussion on the Evaluation of Crypto Projects

Charles Hoskinson stated that the market cap for meme coins has reached billions of dollars despite not having any user utility. This is leading to unreasonable expectations within crypto. The 100x growth from meme coins is not possible every year, he said.

Speaking to his 291,000 YouTube subscribers, Cardano’s founder explained that cryptocurrencies should be evaluated based on their vision.

Hoskinson stated that

“Old school people like me say you have to have real fundamentals, real transactions, real commerce, a potential for user utility, a path to these things, and a view of how these things are going to work in the world, change the world.”

Flipside

  • Within 24 hours of completing the transaction The Alonzo upgradeCardano’s network was able to see 100 smart contracts. Hydra’s upgrade is expected to improve the utility and scalability of blockchain.

What Are You Responsible For?

Meme coins have been a great investment option. Greater Idiot TheoryInvestors are urged to move fast and get out quickly. It is not a risky way to invest, even though there are potential gains.

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