Dogecoin and Shiba Inu Momentum Will Make Meme Sector 'Better Off', Says Analyst — Slams Disrespect for ‘Biggest’ Names

Leading cryptocurrency commentator David Gokhshtein called out on Monday the irony of traders chasing the “next” Dogecoin or Shiba Inu , while showing little respect for the original.Is the Market Ignoring Meme OGs? In an X post, Gokhshtein said some people are “disrespecting” DOGE, SHIB, and Pepe while searching for the next big breakthrough that will imitate these giants.He argued the entire meme sector would be “better off” when the biggest, most recognized names gain traction.Gokhshtein is a vocal advocate of the meme OGs, whose launch fueled a broader frenzy for similar joke-based coins. Read Also: Cardano Tops Weekly Crypto Gainer Charts as ADA Soars 11% Over 7 Days — Bitcoin, Dogecoin Left in the Dust SHIB, PEPE Shine, DOGE StrugglesGokhshtein is a vocal advocate of the meme OGs, whose launch fueled a broader frenzy for similar joke-based coins.Last week, he said that a not realizing the spillover effects they might create for “legitimate" projects.SHIB and PEPE have held up better lately, outperforming the broader market, which shed 4.61% of its market capitalization over the past month. The same can’t be said of Dogecoin.Cryptocurrency7-Day Gains +/-30-Day Gains +/-Price (Recorded at 1:14 a.m. EDT)Dogecoin+0.64%-7.52%$0.07041Shiba Inu +6.90%+15.35%$0.000004960Pepe +5.36%+9.60%$0.000002970The MarketVector Meme Coin Index (MEMECOIN), heavily weighted toward DOGE and SHIB, is down nearly 40% year-to-date and 2.64% over the past month.Note that MEMECOIN does not trade as a stock or an exchange-traded fund on a public exchange; rather, it is a benchmark index calculated in dollars.A July report by on-chain analytics firm CryptoQuant found that meme coins faced $1.21 billion in cumulative net selling pressure on Binance since Bitcoin https://www.benzinga.com/quote/BTC-USD(CRYPTO: BTC) made its last all-time high in October of last year. Read Also: Bitcoin, Dogecoin Gain; Ethereum, XRP Slide Amid Trump's Latest Warning to Iran: Analyst Says BTC 'Bottom' Not Yet Confirmed Photo Courtesy: DennisF on Shutterstock.com