In a spinning craze across the crypto landscape, while leading cryptocurrencies including Bitcoin and Ethereum were <a href="https://www.cryptoknowmics.com/news/bitcoin-washes-out-below-60k-as-futures-etfs-charm-wears-off/">plummeting</a> with sudden fluxes, Shiba Inu, a meme token, surged to continuously breaking multiple all-time highs in a matter of a week. 

Accumulating sensational mounts of gains, Shiba Inu <a href="https://www.cryptoknowmics.com/news/shiba-inu-hits-new-high-as-robinhood-petition-passes-300k/">rallied</a> over 75% in the last 24hrs, peaking its trading value to over $0.00008 yesterday. Famously known as “Dogecoin Killer,” Shiba Inu has officially slain Musk’s favorite coin and now victoriously ranks at the top of the leading meme tokens list. Ranking 8th among the leading cryptocurrencies, Shiba Inu is trailing around with a market cap of over $47 billion at the time of writing.  

Meanwhile, crypto traders are rejoicing amidst the pouring profits over Shiba, not too long ago this year, Dogecoin (that practically set the eccentric roadway for the concept meme tokens itself) <a href="https://www.cryptoknowmics.com/news/dogecoin-hits-ath-and-beats-market-cap-of-twitter-and-tether-enters-top-5/">witnessed</a> a similar parabolic run. So while the returns over the currently trending Shiba are massive, and for the time being, diligently gaining from the past month. The question does pose some intrigue if these meme coins are worth locking the hard-earned bucks or just a time-old tale of a small adrenaline rush.
<h2>Meme Coins: Just a Laughing “Stock”?   </h2>
Thriving with popularity and gratitude for peaking profits, meme coins like Dogecoin and Shiba Inu have definitely made a lot of money for investors. However, their <a href="https://www.cryptoknowmics.com/news/meme-cryptocurrency-shiba-inu-to-gets-listed-on-robinhood-competitor-public-com/">popularity</a> comes largely at the hands of retail investors and influencers working in sync to alleviate the hype. 

Meme coins as their name suggests have taken root for a laugh, given that the original meme coin DOGE was actually created as a joke based on a meme back in 2013. While there are now countless cryptocurrencies in existence and most of them go unheard, Dogecoin rocketed to <a href="https://www.cryptoknowmics.com/news/after-elon-musks-trillionaire-tweet-the-value-of-dogecoin-increased/">fame</a> after Elon Musk got to tweet about it, instigating ginormous influence over the retail investors. It was followed by a parabolic rise in both trade volume and valuation.

However, not all cryptocurrencies, including meme coins, are fortunate enough to get several shout-outs from the CEO of Tesla. But, since pretty much anybody can create a new cryptocurrency, over 5000 meme coins have followed in line after DOGE. Nonetheless, their idea of being a good <a href="https://www.cryptoknowmics.com/news/shiba-inu-price-rally-is-this-the-right-time-to-invest-in-this-meme-coin/">investment</a>, in the long run, is always gonna be a stinging question. 
<h2>Smart Investment or Stroke of Luck?</h2>
Despite the mind-boggling gains and the flood of green lines that recently profited every SHIBA holding investor, meme coins can likely turn out to be a risky affair. Unlike, some of the <a href="https://www.cryptoknowmics.com/news/top-10-altcoins/">leading cryptocurrencies</a> like ETH, BNB, DOT, SOL, etc. that carry their potential as a smart investment through their value as visionary projects, meme coins incline more towards gambling and counting on your luck than towards a calibrated investment decision. 

Certainly, profits can be made by buying and selling at precisely the right time or with a good spin of luck, however, the paradigm of making a smart investment decision dictates a higher possibility of loss when working with meme coins. It’s generally better to invest and strategize with investments (crypto or traditional stock) by focusing on their <a href="https://www.cryptoknowmics.com/news/shiba-inu-price-prediction-2021-2025-can-shib-reach-1-by-2025/">performance</a> over the long haul. 

Despite being just over a decade old, cryptocurrencies have overly thrived and established their stance across the globe. And while the market may still be a little speculative around <a href="https://www.cryptoknowmics.com/news/the-dire-need-for-crypto-regulations/">regulations</a>, leading economies are slowly coming around to adopt them. With countless blockchain-based projects encompassing almost every industry including finance, there is no shortage of cryptocurrencies that hold their worth in time as adoption and awareness around the crypto landscape rises among the masses.

Crypto Meme Coins: Investment Worthy Or Short-Lived Frenzy?

Meme coins like SHIBA and DOGE incline more towards gambling and counting on your luck than towards a calibrated investment decision.

Ashna is a graduate from Amity University specializing in Journalism and Mass communications. She is currently working as a content writer for Agio support solutions Pvt. Ltd. She aims to provide quality content and strategy in the field of cryptocurrency and work with digital marketing platforms to deliver brand-specific strategies.

Crypto Meme Coins: Investment Worthy Or Short-Lived Frenzy?

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