Monday, December 5, 2022
HomeCrypto NewsMarketDavid Gokhshtein: Dogecoin and Shiba Inu Gave People More Gains Than Bitcoin 

David Gokhshtein: Dogecoin and Shiba Inu Gave People More Gains Than Bitcoin 

- Advertisement -

Gokhshtein believes DOGE and SHIB have given people more gains than Bitcoin.

Prominent cryptocurrency influencer and founder of Gokhshtein Media, David Gokhshtein, recently stated the investment potential of the two-biggest canine-themed cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB). 

In a recent tweet, Gokhshtein noted that 50% of the crypto investors he knows had made more money investing in Dogecoin and Shiba Inu than Bitcoin (BTC). 

“Half the people I know made more gains on DOGE and SHIB than BTC,” Gokhshtein said. 

Gokhshtein Believes in “Diversifying” 

Gokhshtein noted that while he does not have an issue with receiving Bitcoin and Ethereum, he will always diversify his position to other cryptos with the potential of bringing in more gains. 

“I’ll keep collecting $BTC and $ETH — but my ass is going to continue to diversify my positions,” he said. 

Gokhshtein further confirms that diversifying one’s portfolio is key to making it big in crypto. 

All cryptocurrencies Gokhshtein mentioned have recorded tremendous growth from their all-time low (ATL). Bitcoin has seen its value spike from a paltry sum to an all-time high (ATH) of $69,044. However, not many people were lucky to grab BTC at lower prices. 

DOGE and SHIB Turned Many into Overnight Millionaires

However, the same cannot be said for Dogecoin and Shiba Inu. The two canine-themed cryptocurrencies turned many average-income earners into overnight millionaires. 

Dogecoin launched as a joke in 2013. However, what started as a joke, caught the attention of Elon Musk, the world’s richest man, whose tweets pushed the token’s price to an ATH of $0.73 in May 2021. 

DOGE was trading at less than $0.01 for most of January 2021. During this period, mainstream crypto adoption had already started. Many people were opportune to take early positions in DOGE before it started its race to $0.73. 

Similarly, Shiba Inu, which launched in August 2020, was not valuable at the time. On November 28, 2020, SHIB plunged to an ATL of $0.000000000056366 following the massive economic meltdown caused by the coronavirus pandemic. 

Shiba Inu became popular months after Vitalik Buterin, Ethereum co-founder, donated $1 billion worth of SHIB to an India COVID-19 relief fund in May 2021. The move fueled Shiba Inu’s widespread adoption, and the token surged to a high of $0.00008616. 

Although both assets have slumped from their ATHs, they are expected to surpass their previous highs in the next bull cycle.

Dogecoin is tipped to become Twitter’s favorite currency following Musk’s takeover of the social media platform. The cryptocurrency has been rallying since last week. On the other hand, Shiba Inu has many projects that could drive its mainstream adoption in the coming months. 

- Advertisement -
Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.