Which top memecoins can make eye-watering gains in 2022? | The Market Report

Hello, friends, and thanks for hanging out with us today on the Market report with Cointelegraph. I'm your host, Benton. And we're joined again by our resident experts, Jordan Finis at the Marcel Peckman and Sam Borgi. Jordan uses his background in psychology, human behavior. Spot emerging trends in the crypto markets. Sam Borgi is our business editor at cointelegraph where he brings a decade of experience in economic analysis and financial market writing. Marcel Peckman applies his 17 years folks of experience trading derivatives options and futures to the crypto derivatives markets. Fellas, the markets. Did we just nuke? What the heck is going on this week? How we feeling, folks?

I leave you guys for one week, a single week, and what have you done to the markets? Are you guys not seeing what's happening in Canada, in France, in Australia? The governments are getting greedy. They're going to get your money, they're going to get your belongings, your possessions. So leave at least 10% of your holdings in crypto. Don't be crazy. Buy crypto right now.

Yeah, there's no better like advertisement for bitcoin and cryptocurrencies than what Canada is doing right now. So, yeah. Good job, Sam. Good job, Canada.

Hey, listen, the way that I like to protest is with my feet, you know, and I'll be, I'll be parading myself out of here very soon. So that's the way I protest. But bitcoin, it's all about bitcoin. Another use case. Thank you governments for presenting us with another use case of why we should be holding bitcoin.

I don't hold Fiat. I just, I just want crypto. I just want bitcoin. That's all I want. That's right, you got it. I mean, crazy stuff happening in the world, the markets, you name it. We're have Marcel dive into that in a little bit. We got meme coin mania today. All right, the dog coins are out of the cage and we're gonna be battling out. We're gonna bust out the Dukes today and give our pitches for the best meme coins. Thank you all for joining. Make sure you are chiming in on the chat today. We're gonna be giving away one month subscription markets pro as usual. So drop your Twitter handles in the chat. We're gonna be giving away to the best comments today. I know we got a lot of folks, passionate, passionate, voracious followers from all three dog packs. The Shiba Inu crowd, the Doges and the Floki Inus. They're here today. We'd love having you on today's show, we're going to give you the rundown for what's happening this week in the news and then we're going to let Marcel jump into some of the greater markets and give us some analysis. What's happening in the world. Where are the markets going? Are we at the bottom? Who knows? Marcel's got the answer, so make sure you stay tuned. And then we're going to run through our picks for outperforming the meme coins in the market for 2022. So Sam's going to give his picks, I'm going to give mine, Jordan's going to give his and then we're going to run through the coins you should have gotten into and run through that on our Markets Pro. So if you haven't liked and subscribed, make sure you do it. We're here Tuesdays, folks, 12pm Every Tuesday. You know it like and subscribe coin telegraph on YouTube. We appreciate everyone for tuning in. Let's hear, let's hear some shout outs. Where are people tuning in today from around the globe? We're super excited to have you hanging out with us. So first things first, let's go ahead and jump into our weekly roundup to give you the biggest headlines. What's been happening out in the crypto Twitter space? Danilo, let's get right into it. Sam, sa.

It.

All right, shout out Danilo for making another great video, bringing you the biggest headlines of this week. I see folks are tuning in. We got New York City, we got Alabama, New Mexico, friends of the show, Cal, Toro and Luciana. I see them in there today. And Vikram, Vikram's back. Welcome back, man. Great to have you back on the show. And I know we are, we are very, very excited to jump into what's happening around the world. Marcel's gonna give us that information. Don't forget to drop your Twitter handles in the chat today. We'll be giving away that one month subscription to Markets Pro. I'm gonna go ahead and get right into it with Marcel. So Danilo, if you wouldn't mind running it back for us.

So first of all, I just want to clear some things about the Warren Buffett situation, saying that he divested on Visa and MasterCard and invested on a crypto friendly bank, which is Nubank from Brazil. So that's not really true. Nubank has never been crypto friendly. Yes, it offers ETFs, which are the exchange traded funds that contains Bitcoin or Altcoins or whatever, but that's a stock Market product. That's not something specific, that's not the fund specific for new bank clients. So it's not really positive news about Warren Buffett and New bank in Brazil. The bank is definitely not crypto friendly. So moving back to the markets right now. Yeah, everybody's disappointed about the bitcoin performance. Yeah, down 35% since December. But Danilo, can you share my screen please? If we compare bitcoin performance to other risky markets such as MSCI China, which is the purple one, or the Russell 2000 which is the Americans small and mid cap companies, the orange one, we're going to see that we're performing in tandem. Oh yeah, But Bitcoin dropped 35% and it's much more than the other markets. Sure. But Bitcoin's volatility is 61%. MSCI China and Russell 2000, their annualized volatility is 30%. So it's not usual for them to drop 30% as well as it's not usual for them to move up 30% in a couple of months. Whereas in bitcoin is useful for that. Even 50% drops or 50% pumps in two months, it's useful for us because we have higher volatility. But when you see that both markets, Chinese, US equities, commodities, bitcoin are trading in tandem, we, we have to understand that a bigger force is at play here. And which is the biggest force right now? Thank you, Danilo. Which is the biggest force taking place right now? Federal Reserve. Yeah, they are saying that they're going to hike interest rates, they're going to slow down bonds buyback programs. They still haven't done much yet, but they will do. And the markets are fearing that risk markets will sell off when this happens. But as we all know, markets tend to anticipate those moves. So maybe, maybe bitcoin has dropped so much in advance of this fear of Federal Reserve's action and impact on risky markets. But to understand if that's the point that we should start buying or if we should hold back a little more, we need to understand how the professional players are positioned. And in bitcoin it's really easy to measure that. Danilo, can you share my screen please? The single most important metric is the bitcoin futures, the basis, the three month basis premium. So whenever a professional trader buys or sells his shorts, a futures contract, he's going to trade the contract for February, for March, for June, so some months ahead. And to do that, the seller usually demands a larger premium, so he stays with the money. Locked on the exchange for two or three months. And this premium should vary from 5% to 15% per year. Okay, if it's below 5%, it means that markets are bearish. If it's above 15%, it means that these professional traders are ultra bullish. And as you can see, since February 9th, this index, the basis or the futures Premium went below 5% and right now is at 2.5%, which is the lowest level since July 2021. Okay, so professional traders on Bitcoin are slightly bearish right now. Not exactly in backwardation. It's not a negative premium, but it's definitely a bearish indicator. Thank you, Danilo. Okay, so once you understand that those futures traders are bearish, we need to know if this could be a potential bottom marketing, if this is the mark, the bottom for bitcoin or not. For example, when I told you that in July 2021, this indicator bottomed just as the market bottom. I'm going to show. Daniel, you can share my screen, please. Here you can see that in July 20, it was on the futures premium button. And over the next 45 days, the market rallied 71%. So the big question is, is this happening right now? Is it the same situation? And my answer is no, and I'll show you why. The orange chart here is the correlation between bitcoin and traditional markets, the S&P 500. Back in July 2021, the correlation was negative, meaning there was no direct relation between bitcoin price and stock markets. So bitcoin went by itself up regardless of how the stock market was doing. Right now we have the opposite situation. The correlation between bitcoin and stock markets really high, 62%. So Bitcoin is trading in tandem with equity markets. And that's why I don't think that the futures basis rate being at 2, 2 and a half percent is an indicator of market bottom. We should wait a little bit more for this correlation to come down so we can see and check and decide whether it's a market bottom or not. Thank you, Dandelu.

So question for you, Marcel, real quick. So, like, what would have to happen? Do you feel like for, for like a rally or this decoupling of bitcoin in traditional markets, what do you feel like would need to happen?

Okay, Bernard, So usually it happens when a large company or bank starts investing in bitcoin, as we've seen with Tesla, as we've seen with similar stuff in the past. But it can also happen with Canada if Canadians start buying bitcoin as an Asset to protect themselves from the government. We could see a rally and then people would see a new value. Oh, I was not thinking about bitcoin being a protection from government. Now I see value in that. So we, we started decoupling. But there's got to be some initial events, some initial spark to set up.

Okay.

Do you think it's possible that even the stock market, all these assets rally just because of inflation concerns and stuff like that, People start exiting fiat into anything that might go up, whether that's a stock market or bitcoin or anything like that?

I don't think so, Jordan, because I live in South America. And if you ask us which is the safest assets that we can think of, we're going to say the U.S. treasury bonds or dollars, cash. That's what's been used to, that's what we've been doing over the past 40 years. And it has worked because our inflation is always much worse than United States and Europe.

Yeah. Marcel, I also have a question. How much do you think the recent Ukraine situation is impacting the market and price? Because before this thing really started to erupt, we saw bitcoin recovering quite nicely. We had broken above 40, above 42, we challenged 45. It seemed like the market had turned by then. So do you think that all of this is mostly going to be caused because of Ukraine, or is it like you're mentioning much bigger than that right now?

No, Sam, I don't think the Ukraine dispute is that relevant. Compared to the Federal Reserve central banks printing over $10 trillion over the past 20, 20 months. A war can cost up to, I don't know, 12 trillion dollars over 20 years, but printing $12 trillion out of thin air, thin air in 20 months, based on Covid or whatever they're fighting, it's much, much bigger impact.

Interesting. I have a, I have a conspiracy theory. What if Russia was short on the, the S P and markets and they short it by doing the Ukraine thing and then they go along and anticipate this rally over the long term? I don't know. What are your thoughts on that?

It could be, but again, we're hostage. Bitcoin and cryptos are hostage of this situation. We're clearly not decoupled. There are no signs that we're decoupling over the next couple of two or three weeks.

Interesting. Very good. Extra. Great insights, Marcel. We appreciate you sharing your thoughts on where things are heading. I mean, I, I, this future does seem uncertain right now, and we are kind of feeling that sentiment. I think across the board. And so today we are going to get into this rumble royal of meme coins. And so it is. It is that time, folks. If you are here for the Flokies, the Sheba Inus, the Dojians, it's time to chime in and represent for your project today. I know Sam is going to be talking to us today about Floki Inu. So Danilo, if you wouldn't mind just rolling us in into Sam's segment today to start us off for this meme coin battle for the ages. Let's get this party started, folks. Foreign.

So if we're talking about dog based meme coins, my pick for the week is definitely going to be Floki Inu. So hello to the Floki Vikings. Welcome. Please make sure to vote at the end of this presentation or after we conclude presentations. So Floki isn't your typical meme coin. It's an actual movement according to the white paper. What's that? A white paper? Yeah, proper documentation. It's an actual project. It's a viable project. We have all the documentation. It's a movement, not just a meme coin. Floki combines humor, which we all love, with real world utility, which crypto needs. Right? You combine that and the team is working on three flagship products. You have a play to earn NFT game called Valhalla, an NFT marketplace called Floki Places, and a blockchain education platform called Floki in University. All these three are being worked on by the Floki community. Unlike other meme coins, Floki has a long term vision to create a decentralized ecosystem flush with partnerships that could help improve. What's that utility. The project emphasizes Dev work around NFTs, gaming and DeFi. Some of the partnerships that Floki has already earned so far include Italian Football Club, ssc, fc, Spartac, Moscow Shopping, IO, Inverse Finance. It goes on and on and on. Now if you're an investor, Floki has a supply of 10 trillion compared to the quadrillions you're about to hear about later on with some of these other projects. And Doge is technically unlimited. I mean they can print as much as they want every year. So Floki actually is also going to be deflationary. As of October 2021, 10% of marketing fees will be used to market by Floki regularly. So it's a deflationary asset inflation that 77 and a half percent. Do you want to hold dollars? You want to hold Floki? And finally, if you share my screen, please, just very quickly here. This compares first of all you know who has the cutest logo? That's definitely Floki, right?

Wow, look at that.

Doge. What's a dow? You know, Shiba, what's a dow? We're number one Metaverse. Doge. What's the metaverse? We're number one aggressive marketing, number one crypto education, number one nft. Number one. The only thing that Doge has over Floki is the tier one exchanges like Coinbase. But try selling your Doge during periods of high volatility. You won't be able to access Coinbase. I'm done.

Mic drop from Sam Borgi today. All right, let's get this, let's get this cross examination going. Who wants to get this party started? Marcel, Jordan, are you both chomping at the bit? Marcel, why don't you take this one first?

Okay, so my first, my first question for SAM is 70% of the coins are held in the top 100 wallets. Shouldn't this be concerning?

Yeah, that's really shitty. You know, but it's the, it's the Pareto principle, right? Typically you have a small number of people that hold a disproportionate holdings of a particular asset, but over time it's going to become more decentralized, more democratized as more people come into the ecosystem. So there's some concentration issues, of course, with every project, but over time you're going to start seeing that, you know, diversify a lot more.

How long will it take for the supply of Dogecoin to get up to the supply of Flokis? I know you poke fun, it's unlimited, but how long will it take to get up to that 10 trillion mark?

I mean, I don't know, but I know that they're doing what, 5 billion. They're printing 5 billion a year for, for Doge or something like that. All I care about is that my Floki are deflationary, baby. Okay, we're deflationary. We're taking Floki out of circulation. Okay? That is what you should be looking at for tokenomics. Okay? You want a deflationary asset. What's what. It should be a cornerstone of your investment philosophy. Deflationary assets. Got a little bitcoin, a little bit of Floki, you're set for life.

Not financial advice. These are the express personal opinions. They are not representative or sponsored content today day. So as we go through these, just want to make sure that we preface that for our audience today. Tuning in. Sam, question for you. I will give it to Floki. Their marketing has been on point. I Think I was going through an airport and saw an advertisement for Floki somewhere at one point. Was kind of perplexed by that. Why do you think Floki is. Is like ultimately, when you boil it down, better than Dogecoin or Shiba Inu? Like, if there's two things that you feel like they execute better on, what are they?

The two things are actual utility, which I've been saying over and over again now. Right. And the other one is deflationary aspect. Right. So Floki is actually building an asset, a network that's actually going to be used. It's not just for humor, not just for shits and giggles. You know, we do like the shits and giggles, but we also want to actually use this network for something. Right. So it's the utility aspect combined with the shits and giggles that makes Floki so unique.

And you find it on the eth.

What utility?

What's that?

What utility is it exactly? Right.

Now we talked about the utility. They're building a NFT game called Valhalla. You got the NFT marketplace current utility. Yeah, well, there's a lot of utility there. People. People are going to be using it. Right.

Is Floki on. On Eth, by the way, or they're their own blockchain.

I believe they are. I believe they are.

Okay.

Yeah.

Okay. I believe I have another question. Floko is down 90 from all time height. Isn't that a sign that investors are just desperately cashing out and going to the next one?

See, Marshall, you don't. You don't get the community here. Okay? We're actually. We're actually really excited. We like to compete with each other about how much our positions have tanked, you know, but we do that with the, with, with, with the, with the express view that we're holding long term. So. Yeah, 90. Great. 95. Great. I'm going to be holding for a long term. Gives me more time to accumulate Floki at a low price. I'm good.

The diamond hand club. The diamond hand club.

Diamond hands.

I was gonna say Floki, man. All right, any further questions for Sam? Not today.

Is it going to reban for floppy flop?

No, it's not. No, that's. I'll save that for the next project.

Wow, Zingers coming from Marcel today. All right, very good, Stan. You stated your case very eloquently today. I believed it. You know, you sold me. Maybe I might move over from Sheep army over to Floki one day, but.

For now, vote Floki today.

Okay?

Yeah. Make sure folks, we're gonna stay. We're gonna have a poll at the end of the show today where you get to vote for community. Make sure your voice is heard, and then you get to represent. Maybe there might be a special shout out for your project coming from cointelegraph if you win the poll today, so make sure you stay tuned. All right, folks, we love the comments coming in today. I see Vikram's chiming in as usual, and we got tons of folks talking right now. All right, if you haven't liked and subscribe, do it. One month subscription coming out today. Markets pro. Drop your Twitter handle in the chat. All right, now it's time. It's showtime. It is the time that you all have been waiting for at home. It is my turn to represent and show you Shiba Inu and why it's going to outperform these other coin dog coins this year. All right, fam, you already know it. Make sure you're casting your vote before this. This thing ends today for she. But, you know, let's get right into it. I don't always look at meme coins, but when I do, it's Shiba Inu and I'll tell you why. Where? By the way, where are my Shiba army at today? Let me hear those woofs. All right, quick background or. Shiba Inu project was launched August 2020. There's over 544, 000 holders. All right? And I. I don't even know if I want to say this today. I'm skipping over this.

You know what?

No, I'm not saying that.

All right?

If you want the community that is led and it's truly decentralized, I. I mean, I know Floki said they were decentralized, but you know, this. This project is one of the most decentralized projects in the game, and they've taken this ethos to heart, okay? In truly decentralized fashion, they chose. Guess what. Guess what chain they chose. They chose Ethereum because they care about your security, and Ethereum is one of the most proven blockchains other than bitcoin to hit the market. And it's the most secure in the market, well established. So they decided to build off of that ecosystem. Smart thinking. Love where Royoshi's head was at with that. All right, so they have three tokens. And so this isn't just one shitcoin, folks. There's three of them. And there's sheep, which is the native asset of Shiba Inu. And then there's leash, which was originally designed to be the Rebase token tied to the price of dogecoin. Now, with this leash token, there's only 107,000. And then the third token of the ecosystem is bone. And this is. There's 250 million of these in supply. And bone is going to be your governance token of the Shiba Inu ecosystem. And so wait till I tell you about what's going on with their ecosystem, folks. All right, this is what makes me super bullish. So, number one, I don't know if folks tuning in where I eat, Denver, but if you saw Vitalik Buterin, that's right, he was rocking the shit out of those Shiba Inu pajamas, all right? And he. That's a free billboard. That's free marketing. That's Vitalik just getting into the game. And also, Shiba Inu was smart enough to donate the half of the total supply of sheep in the very beginning to Vitalik Buterin. He didn't know it, but when he found out, guess what he did? He donated $1 billion worth of sheep to the India Covid Relief Fund. That was huge. It made huge waves. There was massive publicity getting Shiba Inu's name on the map. And then after that, Vitalik went ahead and burned $6 billion worth of the tokens shortly thereafter. And so the Shiba Inu ecosystem also backs Amazon Smile, which is a program that donates your Amazon purchases to the Shiba Inu Rescue association, which saves dogs. Folks, if you love dogs, this is why you get involved with Shiba Inu. And I'm telling you, the last thing I have for you about the Shiba Inu ecosystem is that it's going to start its own decks. And they got some big stuff coming up. You want to talk about big projects. Sam mentioned NFT projects.

Yeah.

Guess what? Shiba Inu's got that coming up. They got Shiba swag. All right, you want swag? They got that coming up. They're going to be launching an incubator and there's a new token on the way. There's not just three shit coins, there's a fourth one, the Sheba treat. And you want to talk about a dow that's coming in on 2022.

What's the circulating supply of Shiva? With all. We're adding four more tokens. But what's the circulating supply of Shiva?

Don't even worry about it. You don't even need to know that Vital burned half the supply.

It's in the quadrillions, everyone. Quadrillions.

It's 589, quadrillion.

Okay, 589, quadrillion. You want to invest in this?

If she went to a dollar, what would the market cap of cryptos be?

The market cap would have to be 550 trillion. So, you know, that could happen. It can always happen. Nothing is impossible. Okay? So all we're my sheep army. You know, you gotta. You gotta represent today, all right? You gotta show up, you gotta show out, you gotta vote. All right? I need your votes today.

They care about people because they put it on eth. They clearly don't care about people's wallet. Like eth wallet. Let's.

Let's share the screen real quick, Danila. I'll make my last point and then we'll. We'll get to the questions. All right, so let's. This is the. The Shiba Inu turret. Okay, so all time high, it's down about 73% ish. All right, then we're going to get down to dogecoin. All right, when you see this dogecoin chart. Oh, my gosh. I can't even zoom out so far. It went down so far. 83 from its all time high. And then you get to Floki and Look at this. 91% from its all time high.

We're number one.

I was gonna say Floki. If. Floki, you want the. The biggest drop. I think you found your winner. Thank you, Danilo, for sharing my screen. All right, I'm open to questions.

If you said that the dead Dead coins website, you're showing coins that are down 80, 90, 120%. What's going on?

You know, it's a tough market out there, Marcel. It's tough, as you know. I mean, your analysis, it's the meme coins get hit hardest and it's a shame because they have the strongest communities. And that's why we love having all the communities for the dog coins tuning in today. You know, it's sad to see I have right now.

What utility does she even have right now besides costing you log to send it on ethereum?

Oh, you can stake it. And then you can earn bone, which then is the governance token of the community. And there's gonna be NFT projects. There's going to be a DAO that is community governed. And so, yeah, I would say it's really the big utility for me is staking. I mean, I want to earn that bone and then I want to get Shiba treats, so there's that. Marcel, go ahead. Fire away.

Okay, Benton. So Sheba already has the Shiboshis nft right? Yeah, they're going on, and they still don't have their own NFT marketplace, as I understood, but they're trading on OpenSea Regular NFT. But 95% of the trades happen are priced in EET Ethereum, not on Shiba Token. How can you explain that? Even the Sheba holders are not using Sheba to trade the nft, so what's the use?

It's tough. You know, I. I don't have an answer for that, Marcel.

And because they're bullish on Sheba and they're not, they would rather spend their Ethereum than their Shiva. Come on, Marcel.

I was gonna say that's a good answer. Thanks. Thanks, Jordan. Any further questions on Shiba Inu? Not today. All right.

Everybody. Everybody's launching. You guys are both going to launch these NFT marketplaces and decks. What's going to get people to go on a Floki NFT or Shiba decks? I don't know.

Yeah, that's a good question. There's really no value Prop and.

Honest. Hey, that's great. That's good honest. Like. Like, most of these dexes aren't going to survive outside of, you know, Uniswap and those ones. So, yeah, be real about it. That's cool.

I just want to show viewers that's it shows that we're not here to shield coins. We're giving our honest, real opinions. Sometimes it's good, Sometimes it's not as good as it seems. So it shows you that we're not here to shoot any coin or so.

Guy couldn't have said it any better. That's right. We speak the truth. We're here for facts, folks. All right, I. I think I'm gonna continue to stop. I'm gonna just stop here so I don't get pummeled anymore. All right, folks, we're gonna shift this over to Jordan, and he is going to run us through a little dogecoin. Let's go ahead. Run it back, Danilo.

All right, so, as Benton pointed out, I picked Dogecoin for the choice to be the best meme coin of the year. Why? Because Dogecoin is the original meme coin, the OG meme coin. Dogecoin started the meme coin revolution and will be around long after these imposters are gone. It's not going to try and ride the hype train by creating its own Dex or NFT platform. Instead, it's just doing what cryptos do originally, and that's transfer value from one place to another in a secure manner. Dose coin is already its own chain and offers low cost transfers that are secured by a proof of work mechanism. It's merged mine with Litecoin so there's a solid mining community that backs it right now and there's plans in the future to possibly move away from proof of work just because of environmental concerns. And that's kind of getting into the Dogecoin foundation which has more risen up lately. The average cost of a transaction on the Dogecoin network is 0.177 cents. So if you compare that to Ethan, I don't even know what, what chain Flokey's on how much it costs to transact but I'm pretty sure this is going to be lower to transact with dogecoin. And again it's widespread on the biggest exchanges in the ecosystem and lots of utility. Some of the old school people are the, the first people that are the. They like those coin because it was the first meme coin. Some of the newer people to get in bought Dogecoin at the beginning of last year and got to write it up to 70 cents. And yeah, it's pulled back if I, I was encouraging people to take profits during that time and if they did, they had a nice good experience with Dogecoin and probably the biggest gains I've compared to other coins. And that's why some people like it got backing from notable influencers like Elon Musk and Mark Cuban who continue to help open avenues for real world use and adoption like being able to buy stuff on Tesla's website. With Dogecoin as a strong global community of supporters, Dogecoin foundation as I mentioned is working on migrating away from proof of work to a more sustainable proof mechanism in the future that will reward all users. And this will also include a plan to put a percentage of the the dogecoin created every year towards charity and stuff like that. And that was came from a collaboration with Vitalik. So Vitalka has some input in this project as well. So that's why Dogecoin is just going to be the, the one that actually survives. I think there's only 132 billion tokens compared to like the trillions and the quadrillions and these other two projects. So like if you're looking for the one that's going to be around long term. Dogecoin.

Yeah. So I have a question, Jordan. Does Dogecoin survive without Elon Musk?

Yes.

Like what happens if Elon decides to go?

Sure, he came in and pumped it up just because it was the only One, but it's not gonna. It doesn't need Elon Musk to keep going. It doesn't need Tesla to keep going. It's already got. It's one of the longer running proof of work chains out there. Successful, widespread, decentralized.

Yeah, I, but, so follow up question and I'll let others jump in. Would you rather own the US dollar or would you rather own Doge?

Dogecoin? Booyah, Ghost.

Okay, all right. Same or Marcel.

Okay, Jordan, so I have a more technical question. I know it's a MEM coin, but even MEM Coin needs developers and dodge Coin leading developer Ross Nicol abandoned the project just last week and if we check the GitHub, there was less than 10 interactions over the past 30 days. So should investors be worried about that?

I don't think so. I think Dogecoin at this point does what it needs to do and that's transfer value in a nice secure manner. That's like what again? That's the original. We're asking what's the use case currently? That's the only one with the use case currently. You can stick it.

Sure, yeah. Let's, let's go talk to those in the future.

But you can actually transfer value with Dogecoin right now. I don't know if you need much development outside of that. We're not. What? We don't need to put a big NFT marketplace on Dogecoin or turn it into a dex where nobody. There's not gonna be any liquidity. It transfers value and that's what it doesn't. It does it well and it does it inexpensively.

So here, here's the really important question. You know, I don't care about the technicals, I don't care about the tokenomics, I don't care about any of that stuff. Okay? It's called a meme coin. Where are the memes for Doge? All I see is cringe worthy memes. You go take a look at Floki's memes and they're out of this world. Where are the memes for Doge? Tell me.

For Doge, all the time the Dogecoin meme has been around the longest. It's got the, the, the, the backing or the history. These new ones, they're trying to be all flashy. Look, we got developers. We don't, they don't. We don't develop a product. We draw memes. That's what you're selling me right now? Right now, just drawing the memes.

Well, it's part of the Community. You know, we're very meme centric here.

You know, that's true. Meme friendly, a question for you. Didn't the developers, like, abandon the project at one point?

Yeah, way back when. The guy who originally created again, it became the original meme because it was created as a joke. But it ain't no joke no more. It's on Robin Hood and Coinbase and finance and the biggest exchanges in the, in the, in the space.

Okay.

Okay. So I have another technical question for you. So we all know that the Dodge coin mining as it is today, the proof of work, it's merged mine with litecoin. Okay. So the same pools that mine litecoin mine Dodge coin, and the two largest pools combined own 50% of the hash rate. So why should anyone use Dodge as a store of value if the two pools can do the 51% attack whenever they want?

They can, but they haven't. That's always a possibility. The same way was a problem. That was so much mining of bitcoin in China until they. They shot themselves in the foot. It's possible that that will, that will change in the future. And as I mentioned, there's a possibility that they will move away from the proof of work consensus to a different consensus, and at which point that will become moot. But are these pools trying to be nefarious actors and, and, and sway the whole market like that? I don't know.

They're litecoin pools. They're not really Dodge coin pools. It's merge mining.

Yeah. So they don't. They're not trying. They're not focused on trying to take down dogecoin. They're just that before it was like, oh, this is a useless thing that we're getting alongside our litecoin. And now they're like, holy crap, we're making more mining dogecoin than we are litecoin. So they have incentive to keep it going. And I don't see them turning nefarious anytime soon, personally. But that's just my opinion.

Until there's that outside actor, that Black Swan event. Yeah. All right, any further questions for Jordan today about his dogecoin? We're all set. All right, very good. That's right. We're going to be posting a poll, I think Adrian or Jackson. Are we to begin that live polls live, folks. We just got word from the producers. Make sure you're casting your votes. This is big time. This is big time today. Whoever wins this vote today may get a special shout out from Cointelegraph by The way, real quick, can you share my screen? Danilo, I don't know if many people knew about this, but we got the swag store. If you're looking for drip, if you're looking for that swag goo, make sure you head over to store.cointelegraph.com look at this merch. Get your Coin Telegraph shirt. Represent. Thank you. Quick plug there for the Coin Telegraph store. We love to see it. They got six swag. We got hoodies, we got shirts, we got slippers. What do you need? We got it. Get your crypto gear. Store.crypto or store.cointelegraph.com all right, drop your turtle handles down. Good call. Good call. Twitter handles in the chat. We're picking that one month subscription. Markets Pro. Speaking of Markets Pro, we're going to jump right into the two tokens that made the biggest moves this last week, thanks to our Markets Pro platform. Let's get it. Danilo Foreign. It's filecoin this week. This was one of our biggest movers, and thanks to the Newsquake alerts, which is a service by ct, Markets Pro helped me stay on top of this trade and also other important developments. So newsquakes are automated alerts that instantly notify users when market moving events happens. So when we're looking at this chart here, what we're seeing is that Newsquake alert, bottom left. Filecoin was hit by a newsquake and that did result in an immediate price spike. So what happened? The news in question was February 15th, the announcement of a new collaboration between Filecoin and Polygon Ecosystems. Huge. All right, that started at $22.11 and after 25 hours peaked out at 23.34. And that was on February 17th. So we see those lines. Follow the white line, that price chart, that news Quake alert, you love to see it. That's power Markets Pro. You can spot these kind of things very, very easily on our platform. All right, let's move on to the next token we had on our radar. This is Umbrella Network trading under the ticker umb, as in Bravo. All right. A coin's Vortex score is a comparison between its current market and social conditions of those in the past. A Vortex score of 80 and above consistently is confidently bullish. Conversely, a low Vortex score below 30 means it's historically bearish. So what happened? Umbrella Network was on the way down along with the rest of the markets when the individual trading conditions began to look extremely favorable. This meant that the token's declining price was the result of macro pressure and UMB's individual outlook was robust. Two, two and a half days after this peak score that we see that first red circle on the chart, it shot up from 12 cents all the way up to 15 cents and that was February 21st. Love to see that on the Markets Pro platform. If you were using Markets Pro, you're able to get that. That's a 92 vortex score, folks. You don't really see those 90s very often, but when you do, you want to make sure you make decisive action on those moves. Danila, thank you for sharing our two tokens this week for Markets Pro. All right, we are going to make sure that we're giving away that one month subscription of Markets Pro. If you haven't dropped your Twitter handle in the chat, do it now. We're picking them. We're picking a winner for today's show. Don't forget to vote. Any closing statements that you guys want to make before the poll closes. Looks like Floki's 62 sheeps 27. Doge Floki army is here. I don't know if those are final results though. Adrian Jackson, is that done? Is the poll closed? Are we still. Are we still open?

Come on, Sheba Army. Come on, react.

One minute left. All right, I'm gonna let this. This is gonna be a free for all for one minute. State your case. Try to get as many votes. I'm gonna give it to Jordan because it looks like Sam's leading right now. Jordan, you have one.

I mean, you can put your money in those coins, but you're just gonna go to zero. Like dogecoin's the only one that's going to stay around long term. Spot yourself.

I'm telling you. Sheep. Oh, look at that. Sheep's bumping up 25 of the votes. That's my sheep army. All right, I think that. All right, the poll's closed, folks. I think that's a big W for Sam Borgi today. Floki inu with 65%. Floki army showed Vikings. Wow. It's a shame. I thought Shiba Inu had this in the bag today. Oh, man. All right, we appreciate everyone voting in the poll. Let's go ahead and pick our markets Pro winner today. Who's been chiming in with their Twitter handle? Let's check it out. Who we got today again?

Funk X maybe.

Let's see who we got. Who we got? Who we got? Funk X. All right, Funk X. We're gonna shoot you a DM on Twitter via Cointelegraphs account and Give you that markets pro subscription. We hope you enjoy and we hope you make some solid trades on that platform. Funk x001 thanks for that. All right, closing thoughts. Sam, you have the floor since you are our champ today from Meme Coin Mania. Closing thoughts for today's show. The floor is yours.

Well, since the meme battle is over, I guess I'll go back to bitcoin and crypto. Things aren't looking very good right now, but as we always say, a long term view is, is ideal in this type of market. When you're dealing with an exponential market like bitcoin, it's good to have a longer term view. If you take a look at institutions, vc, long term holders, it's still a very healthy environment. We just have to get over a lot of these, these issues with central bank policy and with Ukraine. Lots of fear in the market right now, but don't lose set of the long term HODL strategy.

My opinion of course, excellent. All right, congratulations to Sam and I will say I Floki Inu knows how to rally their troops and, and show up and show out. Jordan. What? Do you have any closing thoughts for today? And then I'll kick it over to Marcel.

Yeah, just looking even at those charts for the meme coins and even the charts on markets pro. Like when things go up really quick, take some profits, people take it, they go down quick too. And I, I just hate this. This is my own experience being more seasoned in the crypto market. Now watching your portfolio go up and then watch it go all the way back down, isn't that fun? But it's fun when it goes up and you like cash it and then you like buy some more back when it's way down low. So like long term plan the huddle. We all like to talk the huddle game, but not always the best course to go when cryptos are popping off. So just keep that in mind. It's not investment advice, that's just mine. My personal observations.

Very good, Marcel.

Okay, Benton, so I'm gonna have to agree with my elder brother here and he's been saying for a couple months right now, if, if you think that all markets are going to collapse because there's too much liquidity right now, and when central banks drain liquidity, markets will collapse because there's no real demand for that. You need to stay positive position on cash because by having cash in hands, you're going to be able to buy stocks or gold or bitcoin or whatever you're focusing during the crisis. You cannot stay. There's no safe asset, not even gold is going to withstand a major crisis if it happens and when it happens. So if you're really afraid that there's going to be a huge market collapse because of Ukraine or whatever, stay at least 50% in cash position. But for me, I'm not really a trader. I do as Jordan said, as Sam said, I hold and I buy a dca. I buy every month so it doesn't make a difference. I've been buying for three years now. It's not going to change my average because of one month or two months going down 40%.

Wise words from Marcel. My closing thoughts, buy and hold. It's easy. Dollar cost average. I ain't got to worry about nothing. All right folks, we appreciate you tuning in. All the meme coiners that showed up today. Thanks for jumping in. We hope you are here next week, Tuesdays 12pm Eastern. We appreciate everyone for jumping in. We love you all. We will see you next time. Thanks for joining us today. You guys make it a great one.