Mark Cuban, a Billionaire investor and a vocal Dogecoin (CRYPTO: DOGE) advocate, voiced his skepticism about different memecoins a couple of 12 months in the past, likening them to a “sport of musical chairs.”
Cuban Not A Fan Of Meme Cash
Throughout a podcast aired Dec. 17, 2024, Cuban revealed his lack of enthusiasm for meme cash.
“It is simply hustle. There is not any there there, and so it is like a sport of musical chairs with cash and a few folks will earn a living and a few folks will not,” the “Shark Tank” character stated.
Cuban added that for a meme coin mission to succeed, it must construct a group just like that of Dogecoin.
“If there’s a meme that develops a group in order that it’s virtually like a lottery ticket that everyone will get to speak about, then it’s not nice, however it’s okay,” he argued.
It’s value mentioning that Cuban, additionally a minority proprietor of the Dallas Mavericks, has been an avid supporter of Dogecoin and ceaselessly makes use of his public picture and social media attain to endorse the cryptocurrency.
The Mavericks beforehand accepted Dogecoin as cost for tickets and merchandise.
See Additionally: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
A Prescient Warning?
Quick-forward a 12 months, and most top-tier, fashionable memecoins are struggling, together with DOGE.
The apex memecoin, Shiba Inu (CRYPTO: SHIB) and Pepe (CRYPTO: PEPE) have tumbled 55%, 60% and 76%, respectively, for the reason that 12 months started, far worse than Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP).
In truth, the overall memecoin market capitalization has greater than halved this 12 months and collapsed by greater than 60% since Cuban made these remarks.
| Cryptocurrency | YTD Features +/- | Worth (Recorded at 12:15 a.m. ET) |
| Dogecoin | -55.56% | $0.1403 |
| Shiba Inu | -60.23% | $0.000008409 |
| Pepe | -76.27% | $0.000004570 |
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