Will Meme Tokens Lead or Lag From Here?

Are Shiba Inu (CRYPTO:SHIB) and Dogecoin (CRYPTO:DOGE) two meme tokens investors should consider right now or watch from the sidelines?

| More on:

Meme everything is coming back to life. Whether it’s meme stocks or meme tokens, investors have certainly seen some rather impressive moves among the most speculative assets of late.

In the cryptocurrency world, already higher levels of volatility make for even more dramatic moves. Accordingly, meme investors looking for life-changing returns often look to these assets first. Whether it’s Shiba Inu (CRYPTO:SHIB) or Dogecoin (CRYPTO:DOGE), these top dog-inspired digital tokens are once again front and centre in the discussion among many speculators and traders.

The question is, are these meme tokens worth a look at these levels? And where will momentum ultimately take cryptos in the short term?

Let’s dive in.

Top meme tokens: Shiba Inu

Shiba Inu is a meme token that’s led the way in terms of returns over the past year. Shooting millions of percent higher from its launch value, this token has been perhaps one of the most incredible speculative bets we’ve seen in a long time.

Critics state that Shiba Inu does not create any real value. The lack of projects on this ecosystem certainly drives this point home. That said, for meme tokens, it’s less about the utility these networks create than the community underpinning these projects. Accordingly, Shiba Inu’s massive community provides credence to bulls who believe this token is the next big thing.

Recent token burns have driven interest in Shiba Inu in a big way. That said, this token is still inflationary after this burning process. For now, I think Shiba Inu remains a speculator’s best friend. Thus, those looking to bet on the directional move of the crypto market have a trading vehicle to do so.

Dogecoin

Perhaps the “grand-dog” of the meme token world, Dogecoin has been around since 2013. This token has been widely viewed as the father of the meme token movement and has seen its community grow to impressive levels, like its cousin meme token Shiba Inu.

Initially created as a joke, Dogecoin has surged in value for a number of reasons. Unlike Shiba Inu, there are real world use cases for this token. High-profile celebrity CEOs such as Elon Musk have also bought into the hype, pumping this token on a number of occasions.

Now, buying anything just because someone else is isn’t really an investment strategy. That said, the community behind Dogecoin continues to believe in the developer interest in projects happening on this network. Like Shiba Inu, there’s more to be done to see real utility created with Dogecoin. But for now, this token is among the more stable meme tokens out there.

Both Shiba Inu and Dogecoin represent highly speculative bets right now. Those with aggressive risk tolerance preferences may see fit to add some to their portfolio. That said, I remain comfortably on the sidelines with these two meme tokens right now.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

More on Investing

space ship model takes off
Tech Stocks

Where I’d Put $1,000 Right Now in 2 Top Canadian Growth Stocks

Let's get into growth, and why these two top Canadian stocks offer it up in spades.

Read more »

A close up color image of a small green plant sprouting out of a pile of Canadian dollar coins "loonies."
Dividend Stocks

1 Magnificent Dividend-Growth Stock Down 16% to Buy and Hold for Decades

This company raised its dividend in each of the past 25 years.

Read more »

Paper Canadian currency of various denominations
Bank Stocks

Is Scotiabank Stock a Buy Before May 27?

With the next earnings just around the corner, here’s what investors should know about Scotiabank’s (TSX:BNS) recent run and future…

Read more »

happy woman throws cash
Dividend Stocks

Where I’d Invest $3,200 in the TSX Today

TerraVest Industries is a top TSX stock that has delivered market-beating returns in the past two decades.

Read more »

sale discount best price
Dividend Stocks

Is This Correction Your Chance at 4 Passive-Income Stocks on Sale?

These top Canadian stocks offer a great opportunity as analysts continue to upgrade one after another.

Read more »

Dividend Stocks

Boost Your Monthly Income With These 3 High-Yielding REITs

These three REITs are ideal for income-seeking investors, given their stable cash flows and healthy dividend yields.

Read more »

oil pump jack under night sky
Energy Stocks

Canadian Energy Stocks: Undiscovered Gems Ready for Summer 2025 Rally

TSX energy stocks such as Canadian Natural Resources and Tourmaline Oil are poised to deliver outsized gains to shareholders in…

Read more »

calculate and analyze stock
Dividend Stocks

3 Blue-Chip Dividend Stocks Every Canadian Should Own

These blue-chip dividend stocks have growing earnings bases, enabling them to consistently pay and increase their dividends.

Read more »