Crypto Venture Capitalist Predicts Dogecoin Could Surge Beyond GameStop, Foresees Prolonged Global Momentum Rally
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March 3, 2024 11:39 AM |
2 min read
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On Friday, crypto venture capitalist Andrew Kang stated that Dogecoin
(CRYPTO: DOGE) “has the potential to surge harder than Gamestop,” indicating that a
memecoin speculation phase is on the horizon.
The Scoop: Kang voiced his prediction on platform X, which used to be Twitter, sharing his
analysis that memorcoins have not yet reached their peak.
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Kang describes memecoins as “a global focal point for venture capital,” due to their easier accessibility compared to traditional stocks. As a result, he believes Dogecoin might exceed
the GameStop phenomenon. He recalls that in the previous upsurge, “crypto and traditional investors” held Dogecoin, and even “Elon’s investment office had billions invested.”
Elon Musk famously mentioned Dogecoin in a
Saturday Night Live skit.
Kang also pointed out that during the last uptick, memecoins marked a peak with a $100 billion market cap and anticipates that this cycle might see a greater number given the mania could lead to a “multi-month international momentum investment.”
The recent Coinbase service interruption is seen by him as “the initiation signal,” and his advice is to “examine the graph and resist the impulse to sell.”
Market Movements: Over the past 24 hours and the previous week, Dogecoin has ascended by 2% and 62%, respectively, according to the data from CoinMarketCap
data.
Also Read:
Shiba Inu Skyrockets By 68.5%, Reaching New Milestones As Capital Influx Surges
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