Raoul Pal said that he has been investing in Whiff and Bonk tokens for some time, and also still holds some Dogecoin coins. Pal is confident that Tesla CEO Elon Musk, who supports Dogecoin, will eventually come up with something with DOGE and find practical applications for this cryptocurrency.
The head of Real Vision does not invest in other tokens, but compares the price charts of Bonk with other memcoins. Many traders seek to speculate on tokens, so investments in this market must be made carefully so as not to lose money in the so-called “pump and dump” scheme (pumping and dumping the price).
“Memecoins may leave an important cultural legacy, but it’s like betting on raindrops. Let’s imagine that you can become part of the successful development of some memtoken. For example, we noticed an amazing musical group in a pub, and then it grew to the level of Coldplay musicians. In memcoins, you discover something that no one else finds in them, and thereby take a financial part in the formation,” explained Raoul Pal.
The head of Real Vision is confident that dog meme tokens – DOGE and SHIB – have a certain value for fans of such coins. Therefore, their value is unlikely to be reduced to zero. If the memecoin space continues to develop rapidly, the next cryptocurrency exchange-traded fund (ETF) could very well be tied to the DOGE cryptocurrency.
Recently, Ripple CEO Brad Garlinghouse questioned Dogecoin’s capabilities, calling DOGE a worthless crypto asset with no real-life use cases.
Source: Bits
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