Meme Cryptocurrencies Rally on Hype, But Questions Remain About Long-term Utility

Shiba Inu token has surged recently due to increased activity on its Shibarium layer-2 network, but its original goals around NFTs and gaming seem outdated now.

Dogecoin has spiked this past week but lacks real-world utility as a payment coin, has scaling challenges, and history suggests it could fall much further from its peak.

Bitcoin has rallied on the approval of spot BTC ETFs and an upcoming halving event, but could struggle after these near-term catalysts fade.

All three cryptocurrencies seem to be driven more by hype, emotions and technical factors rather than underlying utility.

Bitcoin risks losing ground as Fed policy shifts, and has lost some first-mover advantage to newer blockchain networks.