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Analyst Kevin flags over‑50% meme‑coin slump, labels Shiba Inu and Bonk worthless, but says Dogecoin could still outpace in the next bull market. Click for the
Dogecoin (DOGE) is the sole meme token the analyst deems capable of a future rally, while Shiba Inu (SHIB) and Bonk (BONK) are described as “worthless” after a three‑month slump that erased more than half of the sector’s value【2】.
| At a glance | |
|---|---|
| Sector decline | >50% loss in three months【2】 |
| Top‑token drawdown | >95% from all‑time highs for leading meme coins【2】 |
| Bull‑market outlook | Dogecoin may outperform in next cycle【2】 |
| Catalyst | Analyst Kevin’s X posts labeling SHIB and BONK worthless【2】 |
Kevin’s X commentary notes that the meme‑coin market has been “reset” as many tokens have fallen more than 95% from their peaks, a correction he believes could permanently sideline several projects【2】. He singled out Shiba Inu for its reliance on the “meme frenzy” sparked by Dogecoin’s earlier rally and called both BONK and Floki “no‑fundamentals” projects unlikely to revisit prior highs【2】. By contrast, he highlighted Dogecoin’s “more constructive chart” and its history of surviving multiple market cycles, suggesting it could “stay around and have another run” in a future bull market【2】.
While Kevin admits Dogecoin remains speculative and has underperformed Bitcoin for six straight years, he argues its chart resilience sets it apart from newer meme tokens that lack sustainable utility【2】. He also points to continued institutional flow into Bitcoin and Ethereum as a broader trend that may favor assets with solid fundamentals over narrative‑driven tokens【2】.
Kevin’s assessment implies that capital may increasingly favor tokens with clearer use cases and stronger price structures. He refrains from recommending a larger allocation to Dogecoin, noting Bitcoin’s superior risk‑adjusted profile【2】. Nonetheless, his personal small position in DOGE underscores his belief in its relative durability compared with peers【2】.
The analyst’s stark division between “worthless” projects and Dogecoin’s potential underscores a broader market shift toward fundamentals, leaving the future performance of meme tokens hinged on whether they can demonstrate lasting utility beyond hype.
Coverage is mostly measured — 171 of 176 reports stay neutral.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jul 23, 2026 · How we report
The circulating supply of Shiba Inu is 589.2 trillion tokens as of July 13. This high volume of tokens is a primary factor cited by analysts as a barrier to the token reaching a price of $1.
Approximately 1,200 merchants worldwide accept Shiba Inu as a payment method for goods and services according to data from the crypto directory Cryptwerk as of July 13. The token's high volatility is noted as a deterrent for wider business adoption.
A price of $1 per Shiba Inu token would require a market capitalization of $589.2 trillion, which is eight times the combined value of all 500 companies in the S&P 500. Current token-burning rates are insufficient to reach this goal within a human lifetime, as it would take approximately 708,000 years at the annualized rate observed as of July 13.