Dispose of Dogecoin and Meme Stocks: North Island Chairman’s Outlook for 2022

DOGE

North Island chairman and prominent tech investor Glenn Hutchins believes 2022 will be tough for Dogecoin stocks and even

While talking to CNBC host Becky Quick, a savvy tech investor, cofounder at Silver Lake Partners and chairman at North Island, Glenn Hutchins, was asked to give his outlook for 2022.

He shared “some thoughts” on the future of the market next year and urged investors to get rid of Dogecoin shares and even before the arrival of 2022.

“Easy money is turned off”

Hutchins stated that as we are moving into the period in which interest rates are increasing globally, easy money will be turned off. The Bank of England seems to be the first lark here as it has announced an interest rate hike of 0.25%.

He said investors should start getting rid of meme and Dogecoin stocks. He also believes that as interest rates start to rise, food and fuel prices will rise and emerging markets will suffer first – countries like Brazil, Russia, Egypt, Mexico, etc.

Doge and SHIB expand in terms of trading and adoption

Meanwhile, leading meme cryptocurrencies DOGE and Shiba Inu are expanding in terms of being accepted by major retail companies and are getting listed on major exchanges around the world.

In particular, DOGE and other cryptos have become accepted by gaming giant Nexon. SHIB is now accepted by many major retailers, including Flexa (which covers nearly 40,000 retail stores in the United States), Gamestop, Nordstorm and Bed Bath & Beyond.

Besides, perhaps the biggest news recently was announced by Elon Musk: Tesla will launch some merch that will be sold for DOGE “to see how it goes.”

Dogecoin and SHIB were both added by India’s main exchange Uncoin, and SHIB was launched on a major exchange in Taiwan, BitoEX. The biggest Spanish exchange Bit2Me also listed the ‘Dogecoin killer’.

admin

Read Previous

Cardano Sees Slight Increase in Whale Transactions, Is This a Swoop on the Dip?

Read Next

Large Shiba Inu Investors Continue to Accumulate Despite Price Correction

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon