Wait, what is this 2012? Well, in case nobody knows, the stock of SHIBA and DOGE had just skyrocketed and crashed last year. So, here in Shibanatics, we’ll give you the breakdown of what happened last year and what will happen to your favorite dog-based Cryptocurrency.
The Rise of Dogecoin and Shiba
If you think about it, taking cheaper investing methods like Altcoins and starter NFTs like Axie Infinity to teenagers gives them a better introduction in finance than any two-week crash course in business by a networker. Here, they can weigh their profits and losses in 8-bit images.
Last year, Dogecoin and Shiba rose to the crop of top crypto investments because of several factors. Regardless of the reason, the community has stopped taking Altcoins like Dogecoin lightly after major companies like the Dallas Mavericks, Activision, and SpaceX took attention to them.
GameStop Incident
The youth stepping in on crypto became the charging point of the GameStop stakeholders to short their buyers. For three generations, GameStop has been a go-to gaming store in the US, Canada, South America, and the EU. So, their stock rose once GameStop reported the threat of closing down and getting bought out in April last year.
Memecoins
Memecoins has never been as relevant as now. When Dogecoin and Shiba Inu increased in stock, there was a demographic of people that these Altcoins unlocked. A dedicated demographic. Not only did they short a hedge fund via GameStop, but these are also people whose mutual connection is just a Reddit thread.
The Shiba Army started that movement online. Now that people are playing through the lute, the new beat is sung. No one will expect the Shiba Army to rise that prominently, but their community will gather in another huge stomp for a campaign. There’s a chance that they won’t be using Shiba, but the trend is there, and as investors, we need to take notes.
This all started as a joke, but despite the jokey Altcoin they used, people were responsive towards the message they were going for, which will lead to other contemporary movements that will be a weaponized mechanism against deeper endeavors.
Most of the Shiba Army was not an investment scheme. It was a moral obligation of young professionals who saw what happened to their favorite game supplier store. But, of course, the stakes will be bigger the next time.
NFTs
Not only did Memecoins lead the headlines, but NFTs as well. Axie and other Non-fungible Tokens are now responsible for funding digital art.
There has been a significant price rise for NFTs since it began in 2017. The price appreciation of NFTs symbolizes the start of a significant number of people taking an interest and investing in them. NFTs are mostly based on Ethereum, and these amazing artworks are based on ETH.
There has been a mix of controversial names taking up NFTs. Martin Shkreli, Elon Musk, Activision, and Mihoyo are a few. But besides these people, some celebrities are open-minded about funding NFTs as they treat it as the next evolution of trading cards with “Chase” art.
Sudden Deprecation
There is a slew of odd reasons for the deprecation of Shiba, Doge, and other crypto. For political reasons, America just had a new leader. Elon Musk is taking flak from his breakup with her former partner Grimes.
Some parts of Asia will also change leaders. The Asian countries include South Korea, India, the Philippines, Lebanon, and Nepal. These political changes will be instrumental in the amount of Crypto and NFTs.
The vast surge of Omicron and the release of Meta will also affect the climate of cryptos and NFTs. Health and medical reasons are just as integral as political and economic factors in influencing the market.
Possible Resurgence
The world is one meme short of shorting the stock market again. Unfortunately, the GameStop incident is not the first one. Many young and passionate people are on the cusp of learning business the hard way. These teenagers will topple the old people in business before they see it coming. If the Big Short fiasco were huge in 2008, wait until you see a takeover done by many people online.
Conclusion
Memecoins are a novelty item to some. To many, it is a sign of the times. It can be the youth’s next big move to push the economic needle to their advantage. But one thing is for certain. If you’re an investor, you can see a community reaction out of it.
Memecoins will be a good footnote on where to move next if it happens again. Take advantage of knowing that there is a community following for these Altcoins, and it will be beneficial for you as well.
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