Mark Yusko Weighs in on Dogecoin and Shiba Inu
In a recent interview, Mark Yusko, the head of SEC-registered investment advisor Morgan Creek Capital Management, shared his views on the current state of Dogecoin ($DOGE) and Shiba Inu ($SHIB) in the cryptocurrency market.
Bear Market in Crypto
Yusko, known for his bearish stance on cryptocurrencies, stated that he often predicts the end of the bear market in crypto when Dogecoin and Shiba Inu reach zero. However, the reality has proved otherwise as both cryptocurrencies have continued to rise and maintain their value.
Lack of Substance in Dogecoin and Shiba Inu
Yusko questions the true value of Dogecoin and Shiba Inu, comparing them to Amazon, a company that generates profits and cash flow. He argues that owning a share of Amazon would actually yield something of value, whereas with Dogecoin and Shiba Inu, there is no real substance behind the value.
Rise of Dogecoin and Shiba Inu
Despite Yusko’s skepticism, both Dogecoin and Shiba Inu have seen significant growth in the past year. According to TradingView, as of 7:55 p.m. UTC on February 12, 2022, Dogecoin and Shiba Inu are the 9th and 12th largest cryptocurrencies by market capitalization, with respective values of $11.22 billion and $7.87 billion. Additionally, both cryptocurrencies have seen impressive year-to-date growth, with Dogecoin up 19.80% and Shiba Inu up 63.56%.