Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Former US congressional candidate and now entrepreneur, founder of Gokhshtein Media, David Gokhshtein, has again expressed his support for major meme coins – Dogecoin and Shiba Inu.
However, in the tweets prior to that he also said he is long on Bitcoin, Ethereum and thinks that “XRP is coming whether you like it or not”.
“DOGE and SHIB to go parabolic”, influencer believes
David Gokhshtein has been bullish on Dogecoin since last year and been supporting Shiba Inu with his multifold tweets throughout 2022. The key note of his tweeting about meme coins is that both Doge and SHIB have brought a lot of new people into the crypto space and Bitcoin in particular and will bring a lot more in the future.
This is what his recent tweet was about too. On October 17, he tweeted that despite his arguing about meme coins frequently, they eventually are going to “lead new retail buyers into the crypto industry”.
In one of his earlier tweets this fall, Gokhshtein confessed that he regretted not going into SHIB in a big way, sharing that it was the “Dogecoin killer” narrative that stopped him from doing it.
Now, he believes that these meme coins are likely to go parabolic when the next bull run in the crypto market begins.
Everyone is beefing and I’m like thinking $DOGE and $SHIB going to go parabolic during the next bull run.
— David Gokhshtein (@davidgokhshtein) October 20, 2022
Crypto market losing $2 trillion in value
The crypto market has faced a severe bloodshed this year, losing more than $2 trillion in value compared to their rallies last year. SHIB reached a historic peak of $0.00008845 on October 28 and is now trading 88.68 percent below that.
Dogecoin hit an all-time high of $0.7376 after Elon Musk shilled it during his debut at the SNL show before that. Now, the largest meme coin by market cap is changing hands 91.91 percent below that ATH.
The flagship cryptocurrency Bitcoin managed to rise to a historic high of $68,789 on November 10 last year, now trading 72.17 percent below that.
Elon Musk selling his merch for DOGE and SHIB
Biggest fan of Dogecoin, Tesla boss Elon Musk, who dreams of extending human life to Mars within his lifetime, became the first business man of level that high who adopted DOGE and Shiba Inu, along with other cryptos, for payments.
In January this year, he added an option of DOGE payments to buy Tesla merch in the company’s online store. First it was done as an experiment and then continued on a constant basis, In spring, SpaceX and then later The Boring Company joined it, selling merch and allowing to charge Tesla cars using Dogecoin.
As for SHIB, in October Musk, proving the reputation of an eccentric billionaire, released his first perfume called “Burnt Hair”. The collector’s product in a limited amount was created by The Boring Company of Musk. Thanks to a collaboration with BitPay, users can pay the $104 for a bottle of this perfume in SHIB, Bitcoin, DOGE and other digital currencies.
More than 20,000 bottles of Musk’s “Burnt Hair” has been sold by now.
Arman Shirinyan
Alex Dovbnya
