Meme Coins Like Shiba Inu and Dogecoin Have Reached Massive Market Caps Despite Lacking User Utility, Says Charles Hoski

Mobile phone app screenshot of a Dogecoin logo in New York, on April 20, 2021. (Richard Drew/AP Photo)

Cardano founder Charles Hoskinson says that meme coins including Shiba Inu, Dogecoin, and various other crypto projects should be evaluated time to time based on their vision.

He says that various cryptocurrencies have reached market caps of billions of dollars, despite lacking user utility.

“Every year, we will see thousands of cryptocurrency-related projects launching around the world without end, regardless of economic conditions. It’s also distorted our expectations of return. And many regulatory bodies have warned people about this,” says Hoskinson.

“But it is unrealistic if there’s a 100x or something to expect that to happen every single year. It just can’t. Math doesn’t work that way,” he adds.

According to Hoskinson, unrealistic expectations have bred impatience in the crypto industry, and the extremely high returns of some crypto assets have resulted in irrational predictions.

He says that people have developed a very unhealthy view on how long things should take and where value comes from. cryptocurrency veteran says many people are starting to subscribe to the Greater Idiot ory of get-in-fast, get-out-fast, and somehow people will have “this great life.”

By Bibhu Pattnaik 

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Pezou : Meme Coins Like Shiba Inu and Dogecoin Have Reached Massive Market Caps Despite Lacking User Utility, Says Charles Hoskinson