David Gokhshtein, a former US politician, thinks chest coins will start the next bull run, led by SHIB and DOGE.
DOGE and chest coins could lead new investors to crypto market
David Gokhshtein thinks chest coins like SHIB and DOGE may eventually attract new personal investors to the market. The former US politician said in a new tweet that it was due to risk appetite:
No matter how much I indulge in meme tokens, they will ultimately drive new individual investors into the crypto market. At first glance, the norms are mostly collected in the price of Bitcoin or ETH. They also spiritually want to enter the “next” Bitcoin.
The cryptocurrency market has melted $2 trillion in market cap since the 2021 bull. In the current “crypto winter”, various altcoins have also lost ground as Bitcoin has dropped more than 71.51% from its record high. The cryptocurrency market is currently worth $936 billion. That’s slightly more than the $830 billion it reached in early 2018 before the start of the previous winter.
Meme coins are the least expensive cryptocurrencies in the market due to their high supply. Based on this, Gokhstein says chest tokens like SHIB and DOGE will attract new investors. He also notes that cryptocurrency “norms,” or newcomers, often complain about the costs of Bitcoin and Ethereum, preferring to invest in “next” single-chest cryptocurrencies instead.
Meme coins promise greater utility potential
Although Bitcoin and Ethereum are significantly lower than ATH levels, they still have high prices. On the other hand, the majority of chest coins trade under one cent. To recall, the Shiba Inu price was initially trading at just $0.00001. Following Dogecoin’s signature rally, investors looking for the next chest coin triggered a price spike in the Shiba Inu. As a result, the SHIB price has delivered a massive 1,000% return in just 4 months.
In the midst of this, Gokhshtein soon said that he regretted not investing in SHIB sooner. The crypto phenomenon also continues to fill his wallet while he waits for Dogecoin’s parabolic rise. Gokhshtein recently tweeted that he is bullish on both XRP and Bitcoin.