Recently, Mark Yusko, the boss of Morgan Creek, announced promising prospects for the crypto industry. Apparently, the latter do not concern all cryptos. Indeed, he believes that the realization of this bright future largely depends on the absolute collapse of certain cryptos. Among these are dogecoin (DOGE) and shiba Inu (SHIB).
Dogecoin, Shiba Inu: zero points!
Mark Yusko, the founder and CEO of the American investment management firm for institutions and high net worth families, Morgan Creek, delivered on February 9, a new analysis on the crypto market. The boss did not go with dead hands, attacking dogecoin (DOGE) and ai shiba Inu (SHIB) head-on.
These two cryptos are currently not worth a nail, according to him. He suspects the first holders of these cryptos, to be at the origin of this situation. Because, he explains, it is a bit as if the latter had agreed not to sell, while pushing to buy.
This move would aim to prevent these assets from increasing in price in order to continue to generate new purchases. However, he underlines, this dynamic is perverse. This, because by preventing DOGE and SHIB from increasing their values, the whole crypto market is affected.
If it should do better, Dogecoin and Shiba Inu should therefore lose 100% of their current values in the near future. A situation that should have happened when the Federal Reserve decided to increase interest rates on crypto operations, in order to limit inflation, continued Mark Yusko.
This must stop!
Mark Yusko wants this dynamic to change as soon as possible. Otherwise, Dogecoin and Shiba Inu risk recording memorable losses in value.
“All that is [Dogecoin et Shiba Inu, Ndlr], it is a collective illusion. If you don’t sell and I don’t sell, the price can’t go down. In fact, if we can convince other people to buy, then the price will go up. As long as we can continue to have people buying, then we who were ahead can sell to them. Ok, but it has to end eventually”commented the CEO of Morgan Creek.
Note that for the moment, DOGE and SHIB are among the crypto companies that are holding up the best. in the bear market. With a market cap of $12.4 billion and $8.2 billion respectively, they are each worth, at the time of writing, $0.081 and $0.0000137.
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