Meme coins are rallying again, outperforming bitcoin and ether. While historically that has portended a market-wide price crash, analysts say this time it's different.
Dogecoin (DOGE), the biggest meme cryptocurrency by market cap, has gained 21% in the past seven days to trade near nine cents, the most since June 1. Shiba inu (SHIB), the self-proclaimed dogecoin killer, rallied more than 50%, hitting a three-month high of $0.00001700, according to CoinDesk data. Market leaders bitcoin (BTC) and ether (ETH) have risen just 3% and 11%, respectively.
Some investors are concerned because meme token rallies have often proved to be contrary indicators, telling you to step away from the herd and lighten up on market-wide bullish exposure. After DOGE chalked up a triple-digit rally in April 2021, outshining bitcoin and ether, the crypto market valuation halved to $1.25 trillion in two months. Similarly, SHIB's late October-early November surge saw crypto market valuation peak above $3...
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