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Memecoins: Experts Are Divided on the Future of SHIB and DOGE

Memecoins started as a joke, but now they are part of our cultural, social and economic landscape. Here’s what in-industry experts are saying about their future.

Simon Furlong is the Co-Founder of Geode. He says predicting the future of memecoins is incredibly difficult, given the circumstances around these memecoins. “As we’ve seen with recent headlines, all it takes is for a single popular celebrity to endorse one of these, and it will at least create a sharp, short term price increase. Creating usefulness, rather than hype, however, is quite another story. Usefulness requires a community of dedicated developers, and a technical platform that can accommodate building useful things. The latter has been a real hurdle for DOGE in particular, since it has no ability to run smart contracts, and requires an outside blockchain to bridge the gap (for example, the recently launched Dogechain).

“SHIB is simply an Ethereum token, so at least smart contracts aren’t a roadblock for them. Thus far, it’s lacked a true use case though, and whether it will find one in the future is anyone’s guess.”

Furlong is reluctant to predict the price on these tokens. “Celebrities and other popular culture events can make all the difference for these prices. I would classify them as gambles of the highest order, so trying to make well-grounded predictions over these time frames, given the lack of use case, or serious institutional investment, is basically impossible.”

Memecoins will always be just that

Julian Koh is the CEO and Co-Founder of Ribbon Finance. “SHIB and DOGE are probably going to stay as memecoins forever, but that doesn’t mean that they won’t get interest and broad appeal with the younger generation. More interest does not always equate to increased adoption however. Having excessive attention on this aspect isn’t the healthiest as it may lead to an inaccurate representation of the entire
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