Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There’s A Catch
Cryptocurrencies based on internet memes and online communities are jumping to billion-dollar valuations in record quick time, leaving behind corporate America in the process.
What happened: A study by cryptocurrency analytics firm Social Capital Markets revealed that some Nasdaq-listed companies took an average of 25-35 years to reach billion-dollar valuations, while meme coin projects like Shiba Inu (CRYPTO: SHIB) and Pepe (CRYPTO: PEPE) achieved a similar feat in less than a year.
For instance, Shiba Inu achieved a valuation of around $10.8 billion in just a year from launch, while Nice Ltd. (NASDAQ:NICE), founded in 1986, took 35 years to reach a comparable market cap.
Similarly, Dogecoin (CRYPTO: DOGE), the biggest meme coin by market valuation currently, achieved …
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