So what actually makes a crypto worthy of skyrocketing like Shiba Inu has over the last week?
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A lot of hype for meme coins
Meme coins like Shiba Inu coin and Dogecoin don’t actually have any underlying fundamentals that could have hinted at their impressive performance. In other words, they’re not like a company whose corner on its business market has sent its stock price soaring.
“They don’t do anything,” Halaburda says. “They are just cute.”
Other cryptos actually have a purpose, she adds. Ethereum, for example, is a platform that allows for financial transactions to be verified and stored without a third party like a bank. (The Ethereum-associated coin is actually called Ether.)
