Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There's A Catch

Cryptocurrencies based on internet memes and online communities are jumping to billion-dollar valuations in record quick time, leaving behind corporate America in the process.

What happened: A study by cryptocurrency analytics firm Social Capital Markets revealed that some Nasdaq-listed companies took an average of 25-35 years to reach billion-dollar valuations, while meme coin projects like Shiba Inu SHIB/USD and Pepe PEPE/USD achieved a similar feat in less than a year.

For instance, Shiba Inu achieved a valuation of around $10.8 billion in just a year from launch, while Nice Ltd. NICE, founded in 1986, took 35 years to reach a comparable market cap.

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Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There's A Catch

by

Aniket Verma

October 17, 2024 3:28 AM | 2 min read | Make a Comment

Cryptocurrencies based on internet memes and online communities are jumping to billion-dollar valuations in record quick time, leaving behind corporate America in the process.

What happened: A study by cryptocurrency analytics firm Social Capital Markets revealed that some Nasdaq-listed companies took an average of 25-35 years to reach billion-dollar valuations, while meme coin projects like Shiba Inu SHIB/USD and Pepe PEPE/USD achieved a similar feat in less than a year.

For instance, Shiba Inu achieved a valuation of around $10.8 billion in just a year from launch, while Nice Ltd. NICE, founded in 1986, took 35 years to reach a comparable market cap.

Similarly, Dogecoin DOGE/USD, the biggest meme coin by market valuation currently, achieved a $17 billion valuation in eight years with a team of just 12 members. In comparison, Nutanix Inc. NTNX, having a headcount of 6,000, took 15 years to reach a similar valuation.