Why are some memecoins now referred to as altcoins ?

[Namtech]

Honestly, it baffles as to why Doge and Shiba Inu are considered as altcoins now as both were popularly recognized as memecoins both in the market and on the news but it seems things are changing.

I was reading the news now and realized both were regarded as altcoins, i was like “no that can’t be”…i checked another article and it was the same. Don’t get me wrong, we all know other coins apart from Bitcoin are altcoins but those two have been known to be memecoins for years.

I later thought it could be as a result of Doge ETF proposal which is ongoing even though it has not been officially approved. Also, Nasdaq filing to list shares of 21Shares’ Dogecoin ETF. All this could have added to the “upgrade” but this coin doesn’t have utility to be called an altcoin in my opinion.

I also read that over 284 million Shiba Inu was removed from its circulating supply. At this point, memecoins gathering all the momentum they could to stand strong. I also found out SOL and XRP ETFs would also launch soon. Why do think there is a shift towards the memecoins ?

[Alone055]

You said it yourself, any cryptocurrency other than Bitcoin is referred to as an altcoin. Meme coins are not different than any other coin or token created, the only difference is that usually projects create their coins and tokens for some utility. Meme coins are created usually for fun, but in essence, they are altcoins by nature.

The reason why meme coins are so much in trend these days is that retail investors, especially the new ones, are too much into them because they believe meme coins are their only way to gain wealth very quickly, so instead of investing in Bitcoin or proper altcoins, they go for meme coins, and since they are told that mostly new meme coins can grow multiple folds, a lot of meme coins are gaining a lot of investments these days, but only some of them manage to gain value and most people lose money.

Meme coins are like fancy-looking dolls that lure kids towards themselves, and kids, in this instance, are newbie investors.

[Themepen]

It is really interesting to see how things are changing with change of time. Even though people still argue about whether these coins are actually useful fact is that big financial institutions are starting to pay attention and that communities are trying to build more value is definitely changing how we think about Dogecoin and Shiba Inu. They are kind of in between being just joke means that meme coin and being regular altcoin now. Fact is that other coins like SOL and XRP might also get ETFs shows that more and more different kinds of cryptocurrencies are becoming accepted by mainstream.

[yhiaali3]

Why do think there is a towards the memecoins ?

I think it's probably because of Trump. After President Trump launched his own meme, it became a source of interest and attraction for many investors. He even invited major $Trump Meme investors to visit the White House!

In any case, investors don't care whether they're Dogecoin and Shiba Inu altcoins or memecoins. What matters to them is making more money through pumping and dumping. Therefore, they will find any way to pump more money, whether by manipulating the market or by expanding investments through supporting ETF approval.

[ABCbits]

Honestly, it baffles as to why Doge and Shiba Inu are considered as altcoins now as both were popularly recognized as memecoins both in the market and on the news but it seems things are changing.

Shiba Inu is a token, so calling it altcoin is definitely wrong.

I later thought it could be as a result of Doge ETF proposal which is ongoing even though it has not been officially approved. Also, Nasdaq filing to list shares of 21Shares’ Dogecoin ETF. All this could have added to the “upgrade” but this coin doesn’t have utility to be called an altcoin in my opinion.

You underestimate how popular is Dogecoin. It's fairly popular option, where it supported by many payment gateway and there are fair amount of charity accept it. And do you know that Dogecoin community even sponsored a racer on NASCAR back in 2014?

[SPOON_MOJO]

Yeah I noticed that too and honestly it’s actually of amusing seeing Doge and Shiba being categorized with serious cryptocurrencies now.   Feels like the market is slowly trying to legitimate them maybe because of all the ETF rumors and how widespread they’ve gone lately.   I mean certainly they started off as jokes but now large personalities are sponsoring them and that impacts how they’re seen, Still I don’t think simply price action or buzz should be enough to name them altcoins like genuine utility should matter too but then again the overall crypto industry is growing fast and maybe the distinctions between memecoins and altcoins are just getting murky today.

[Namtech]

It is really interesting to see how things are changing with change of time. Even though people still argue about whether these coins are actually useful fact is that big financial institutions are starting to pay attention and that communities are trying to build more value is definitely changing how we think about Dogecoin and Shiba Inu. They are kind of in between being just joke means that meme coin and being regular altcoin now. Fact is that other coins like SOL and XRP might also get ETFs shows that more and more different kinds of cryptocurrencies are becoming accepted by mainstream.

It’s so interesting honestly, who would have thought Dogecoin and Shiba Inu would evolve from memecoins into something serious that would interest the big investors. Narrative is shifting very fast, memes are now growing into ecosystems that interests the big players. SOL and XRP ETFs are also awaiting approval and once it is approved, that would lead to another level of m mainstream approval just like you said.

[gremlin_the_collector]

Some memes go far and beyond their initial goals, to become something different and bigger, whereas others stay where they are and die quickly.

That's the answer for you

[Mr. Magkaisa]

     -      As far as I know, Bitcoin is also a cryptocurrency or altcoins, so what if meme coins are also known as altcoins, in reality they are still altcoins or crypto assets.
They just have different categories.

That's why there are many categories of cryptocurrency, there are AI, meme, defi, degen, but all of them still come down to one thing and all of them are still
altcoins or cryptocurrency.

[MrSpasybo]

Honestly, it baffles as to why Doge and Shiba Inu are considered as altcoins now as both were popularly recognized as memecoins both in the market and on the news but it seems things are changing.

I was reading the news now and realized both were regarded as altcoins, i was like “no that can’t be”…i checked another article and it was the same. Don’t get me wrong, we all know other coins apart from Bitcoin are altcoins but those two have been known to be memecoins for years.

I later thought it could be as a result of Doge ETF proposal which is ongoing even though it has not been officially approved. Also, Nasdaq filing to list shares of 21Shares’ Dogecoin ETF. All this could have added to the “upgrade” but this coin doesn’t have utility to be called an altcoin in my opinion.

I also read that over 284 million Shiba Inu was removed from its circulating supply. At this point, memecoins gathering all the momentum they could to stand strong. I also found out SOL and XRP ETFs would also launch soon. Why do think there is a towards the memecoins ?

Well, we have a lot of ways to categorize crypto assets in this market.
Usually, we have BTC and ALTs, meaning ALTs include every token other than BTC in this market: native coins, stablecoins, memecoins, NFTs are all ALTs. According to this classification, DOGE and SHIB are also ALTs.

Personally, I prefer to think differently when studying Pure BTC.D. I don't consider stablecoins as ALTs because their value is usually pegged to the $US and doesn't come with price volatility. Removing stablecoins from ALTs helps to define BTC.D more accurately. Some people even want to remove wrapped tokens from ALTs in the Pure BTC.D calculation, and I don't deny this viewpoint.

Regarding Spot ETFs, I think every token has the right to have its own Spot ETF if the trading demand from traditional investors is really large, whether it's a SOL Spot ETF, XRP Spot ETF, or DOGE Spot ETF. Their acceptance is a success for the crypto market!

[JISAN]

Honestly, it baffles as to why Doge and Shiba Inu are considered as altcoins now as both were popularly recognized as memecoins both in the market and on the news but it seems things are changing.

The price of these coins has exceeded expectations and the market cap has gained a lot. Due to which many people consider them as very potential coins and invest a lot in them. Elon Musk is very positive about DOGE and the world's richest person like him is positive about it, so many people disagree with accepting it as a meme coin. Because the coin that was created just for fun is now being used as an investment asset.

[target]

They are all altcoins categorized as memecoins. I don't doubt they will have better price in the future but it it may took years still like like Doge who seem to be taken years before its supply was grabbed by whales accumulated over time which the value increase after years.

Shib was shilled by big exchanges like Robinhood which makes it very legit but I'm sure its fund trading this memecoin when you bllions of it.

[joniboini]

I don't think you should use a news article as a basis to categorize coins tbh. They're not going to call something a shitcoin unless it completely died on the market for example. Even if they see similarities on another popular project they won't go as far as calling them the next shitcoin too, unless the community and influencer is leaning towards that direction too. Another example is how some projects call their farming activities mining, even though they are inherently different if you look at them closely.

[KryptoBull]

I don't think you should use a news article as a basis to categorize coins tbh. They're not going to call something a shitcoin unless it completely died on the market for example. Even if they see similarities on another popular project they won't go as far as calling them the next shitcoin too, unless the community and influencer is leaning towards that direction too. Another example is how some projects call their farming activities mining, even though they are inherently different if you look at them closely.

Everyone has their own way of distinguishing crypto assets when participating in the market. We hear about BTC, altcoins, memecoins, shitcoins, stablecoins, native coins, tokens... I usually don't pay too much attention to their names, I just look for investment opportunities that generate profit.

DOGE is a major altcoin in the market and also a leading memecoin right now. There's no reason for us to discriminate against it; if it's worthy, it will have its own ETF without affecting other people's account balances. I even believe that a spot DOGE ETF will be very successful after its launch because it has a huge community.

[bitterguy28]

Honestly, it baffles as to why Doge and Shiba Inu are considered as altcoins now as both were popularly recognized as memecoins both in the market and on the news but it seems things are changing.

I was reading the news now and realized both were regarded as altcoins, i was like “no that can’t be”…i checked another article and it was the same. Don’t get me wrong, we all know other coins apart from Bitcoin are altcoins but those two have been known to be memecoins for years.

you did say it yourself altcoins are every cryptocurrency that is not bitcoin there are now way too many kinds of cryptocurrencies that on the bigger umbrella it is just called altcoins some people even call ethereum a shitcoin and we know that ethereum might be the biggest, most popular altcoin known

Why do think there is a shift towards the memecoins ?

like i said there are too many sub categories now in crypto so it might just be easier for people to group everything with altcoins besides i also think that memecoins have gone on to be so normalized that people are now just calling it altcoins even if some of the memecoins have no proper utility at all really