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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 — 109 of 114 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
SHIB’s market cap is $2.48 billion, ranking it 33rd, its lowest position historically.
The critical support level is around $0.0000040, with $0.00000412 also highlighted as a near‑term support.
Geopolitical tensions, notably the US‑Iran war, have heightened risk‑off sentiment, contributing to bearish pressure on SHIB despite a slight rebound in retail open interest.
Analysts note a triple RSI bullish divergence and a possible confirmation if price closes above the 20‑day EMA of $0.0000436.
Yes, analysts suggest SHIB’s next directional move may depend on Bitcoin’s break from its range between $62,000 and a descending trendline.