Cathie Wood Predicts Most Memecoins Will Be Worthless. What About DOGE?

Cathie Wood, CEO of ARK Investment Management, recently questioned the long-term value of memecoins in an interview with Bloomberg. She warned that most memecoins will eventually become worthless. Elon Musk also criticized memecoins as being akin to a casino in a podcast interview on March 1st, but he noted that Dogecoin, the progenitor of memecoins, is different. DOGE is a long-term asset with widespread consensus.

Over the past year and up to now, memecoins have been the most popular type of cryptocurrency and the favorite target for short-term arbitrageurs. However, for prudent investors, investing in trendy memecoins is clearly too risky. Although they almost daily create stories of sudden wealth, they can also lead to financial ruin. As Musk and Cathie Wood have said, investors should not gamble their life savings on memecoins. But when we look at Dogecoin, we see an asset character that is quite different from other memecoins. Looking back at Dogecoin’s growth over the years, we find that it has strong resilience and long-term value. After each cycle, it often shows growth compared to the previous one.

Although recent data shows poor performance across the entire crypto market, including DOGE, from a medium- to long-term perspective, DOGE is still one of the most attractive cryptocurrency investment targets and an ideal choice for investors to diversify their risks. The current downturn of DOGE may well be the right time to consider increasing one’s holdings.

Investing in DOGE through ASIC mining is an even more stable choice, especially using multi-mining machines like the ANTMINER L9/L7. The L9/L7 supports the simultaneous mining of DOGE, LTC, and BEL, among other cryptocurrencies. As is well known, DOGE and LTC are the two names frequently mentioned in White House activities, both enjoying high prestige. ETF applications for these two cryptocurrencies have been proposed by major financial institutions, and the likelihood of approval is very high. Once these ETFs are listed, they will attract global investment for these two cryptocurrencies. Therefore, the ANTMINER L9/L7 is your top choice for investing in DOGE and LTC.

Taking the current DOGE price of $0.18 and LTC price of $90 as an example, using the ANTMINER L9 16GH  for mining, the daily output is approximately 124 DOGE, worth about $23; and 0.03366 LTC, worth about $3. Using the ANTMINER L7 9.5GH for mining, the daily output of DOGE is worth about $13, and LTC is worth about $1.8.

Welcome to consult our sellers for the most suitable DOGE ASIC and trading methods for you! We have warehouses in HK, US, Dubai, and Moscow, with a large inventory of spot/futures from brands such as ANTMINER available for shipping from multiple countries and can assist with customs declarations at the delivery location.

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!