Ethereum Classic and Litecoin, each worth over $4 billion. And Bitcoin Cash, worth $2.5 billion.

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None of these tokens really do anything, so the valuations appear generous.

But there is a saying that market is always right and I am a strong believer of this statement. If I see something weird, I assume I’m just missing something and try to figure out what it is.

My best guess is that all of these tokens have a sort of intangible meme value.

They enter the scene early and they becoming a meme, part of the memories of investors. And this is giving them real value: You can pay for Tesla merch with Dogecoin and AMC movie tickets with Shiba Inu.

However, as more and more coins are launched over the last few years, I don’t see how they justify these valuation other than being early. If meme has a value, Luna 1.0 should be trading at a way higher price today.

Maybe this is a once in a lifetime deal where we can short these meme coins and meme stocks.

Source:iSquare