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Dogecoin Going to “End Badly”: Financial Analyst Gary Shilling

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Wed, 04/21/2021 - 18:50
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Alex Dovbnya
Prominent financial commentator Gary Shilling believes that Dogecoin's rise is "absurd"
Dogecoin Going to “End Badly”: Financial Analyst Gary Shilling
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Financial analyst Gary Shilling has just told BNN Bloomberg that the Dogecoin mania is going to end badly. 

The co-founder of A. Gary Shilling & Co. believes that the meme coin's rally is currently being propped up by excess liquidity:

I don't know what's going to happen to touch off their demise, but it's going to end badly.  

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While Shilling was also short Bitcoin, he admits that one can argue that there was "something behind it." When it comes to its satirical version, the economist is convinced that it's "absolutely nothing."  

Unlike Bitcoin, Dogecoin has unlimited supply and very few active developers.                

Last week, Dogecoin hit a new all-time high of $0.45 after soaring over 750 percent in April. It has since pared some of its gains, currently trading at $0.30 on Binance.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.