Analyst Says Dogecoin(DOGE) Is a ‘Crapshoot,’ Could These 3 Meme Coins Have Higher Returns?

Analyst Says Dogecoin (DOGE) Is a ‘Crapshoot’: Could These 3 Meme Coins Have Higher Returns?

DOGE hasn’t done much to add value to the ecosystem since its launch in 2013. But the token has seen some of the biggest returns of any asset over the past decade. This success doesn’t make much sense to those outside the cryptocurrency community, but DOGE supporters believe that buying and HODLing their positions is what leads to gains. However, according to some analysts, the enthusiasm of DOGE’s success may end.

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Pav Hundal is an analyst for Australian cryptocurrency exchange Swyftx. He noted that DOGE’s future “will depend on the decisions of millions of small investors who bought DOGE in 2021 and are now sitting on paper losses.” Additionally, Hundal said, “This is nonsense. If a lot of these people decide to take quick profits during the cycle, you may start to see selling pressure increase.”

Essentially, Hundal believes that the next small increase in DOGE price will lead to a massive selling wave, which could potentially spell the end of the token.

If this logic holds and DOGE could potentially lose its position as the top memecoin, there are a few other tokens that could potentially be a better investment.

Dogwifhat (WIF) is the next choice for a memecoin that could potentially exceed expectations. The token has only been on the market since December 2023, but it has already secured its place among the top 40 tokens by market value. DOGE has received significant interest that could lead to gains if it begins to decline.

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Another option is the Shiba Inu (SHIB). This project is known as the “Dogecoin killer” as it makes moves to directly compete with and surpass DOGE. To do this, it has created a vast ecosystem, complete with a decentralized exchange (DEX), NFT projects, layer-2 blockchain, and a magazine. Focusing on building an ecosystem with the existing investor community could be productive in light of a potential DOGE crash.

Finally, if you are interested in politics or the upcoming elections, MAGA Coin (TRUMP) may be a good investment. The token has seen tremendous gains since its launch in August 2023. It combines memecoins with politics to attract investors. With the upcoming elections in November, the token may gain increasing attention, which could lead to gains. However, this token is probably the riskiest of the three due to its smaller market cap and the fact that Trump is a very controversial person.

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So, according to some, DOGE’s reign as the top memecoin may be coming to an end very soon. If this is the case, many people may start looking for the next memecoin that will make them an overnight millionaire.

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