Meme Sector Needs Big Names to Gain Traction, Says Crypto Commentator

David Gokhshtein, a leading cryptocurrency commentator, has expressed his views on the meme sector, specifically targeting those who disrespect the original and most recognized names. According to Gokhshtein, these individuals are ignoring the 'biggest' meme coins while searching for the next big breakthrough that will imitate them.

Gokhshtein believes that the entire meme sector would be 'better off' when the biggest names gain traction. He also emphasized that some people want DOGE and SHIB to fail, not realizing the spillover effects they might create for 'legitimate' projects. This sentiment comes as the MarketVector Meme Coin Index (MEMECOIN), heavily weighted toward DOGE and SHIB, is down nearly 40% year-to-date.

SHIB has held up better lately, outperforming the broader market, which shed 4.61% of its market capitalization over the past month. The same can't be said of Dogecoin, whose price is currently at $0.07041 with a 7-day gain of 0.64%. SHIB's price is also on the rise, currently trading at $0.000004960 with a 6.90% increase in the past week.

Gokhshtein is a vocal advocate for meme OGs, whose launch fueled a broader frenzy for similar joke-based coins. He argues that these coins have been unfairly disrespected and ignored by some traders who are instead searching for the next big thing.