"No more 'dead memecoin' stigma"...Shiba Inu (SHIB) reawakens the memecoin market

▲ Shiba Inu (SHIB)/AI-generated image

A forecast has emerged that the rebound of Shiba Inu (SHIB) could reawaken the stagnant memecoin market. This claim suggests that it's a signal of funds returning to early-generation memecoins, beyond just the rise of a single asset.

According to the cryptocurrency specialized media The Crypto Basic on August 4 (local time), David Gokhshtein, founder of Gokhshtein Media, provided a bullish outlook on the memecoin market after observing Shiba Inu's recent movements. He stated, “Watching Shiba Inu's movements over the past two days, my conviction that early-generation culture is returning to the crypto market has grown stronger.” He added, “Shiba Inu's strength will also benefit existing memecoins as a whole.”

The official Shiba Inu team also responded positively to Gokhshtein's remarks. The official team emphasized via X (formerly Twitter) that “early-generation culture has never left,” and “neither has Shiba Inu.” This interprets Shiba Inu's movement not as a temporary individual rebound, but as a resurgence of interest in existing memecoins.

Gokhshtein analyzed that investors are feeling fatigued by repeatedly chasing new memecoins that plummet shortly after launch. He argued that market attention could return to established memecoins like Shiba Inu and Dogecoin (DOGE), which have survived for a long time. He explained that even in a market flooded with new tokens, assets with strong recognition and large investor communities remain the standard in the memecoin sector.

However, Gokhshtein did not provide a specific target price or timing for Shiba Inu's rise. Memecoin rallies often fizzle out quickly when social media interest wanes. Whether Shiba Inu's short-term strength will lead to a long-term trend reversal depends on trading volume and the recovery of investor sentiment.

Gokhshtein's argument focuses on Shiba Inu potentially becoming a leading player in reviving investor sentiment in the existing memecoin market. If Shiba Inu's strength continues, funds could spread to other early-generation memecoins, but price targets and specific transition timings were not provided.

[Article Key Summary]

-Gokhshtein argued that Shiba Inu's recent strength could have a positive impact on existing memecoins as a whole.

-The official Shiba Inu team stated, “Early-generation culture has never left, and neither has Shiba Inu.”

-No specific target price was provided, and sustained recovery in memecoin market trading volume is needed.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*