On Friday (December 3), Randi Zuckerberg talked about investing in meme-based cryptocurrencies, of which the two best-known examples are Dogecoin ($DOGE) and Shiba Inu ($SHIB).
On her YouTube channel, Randi Zuckerberg describes herself as “Producer, Investor, Performer, Entrepreneur, and ‘Professional Mom to Startups'”. She is currently the CEO of Zuckerberg Media, a startup she founded that tries to help present and future entrepreneurs “through media, training, and venture support.” She is also a partner at Offline Ventures.
Zuckerberg, who holds a BA in Psychology from Harvard University, is “the former director of market development and spokesperson for Facebook.” Here is some more information about her from her bio on the Zuckerberg Media website:
“She currently hosts a weekly tech business show on SiriusXM called Randi Zuckerberg Means Business, and her TV show DOT (winner of Kidscreen’s Best New Preschool Series) about a spunky little girl who uses tech to enhance her everyday adventures is currently available on Hulu, NBC/Universal Kids, and stations around the world. She is the bestselling author of Dot Complicated, and Dot., and a two-time Tony-winning producer of Hadestown (2019 Best New Musical) and Rodgers and Hammerstein’s Oklahoma! (2019 Best Revival of a Musical). She starred in Rock of Ages on Broadway in 2014, and serves on the board of the American Theatre Wing.“
In a video titled “What Are Meme Coins in Crypto?” that was released on her YouTube channel yesterday, this is what she had to say about investing in meme-based cryptoassets:
“We’ve all heard of Bitcoin, Ethereum, the big ones, but it’s fun to have a little fun with crypto, and there are a bunch of tokens that started as jokes and now have becomes some of the big names and big players in the crypto community. For example, Dogecoin started as a joke, but then went crazy viral during the pandemic and even was featured on Saturday Night Live, which is actually when it started going down a little bit, but Dogecoin is definitely there in the zeitgeist as one of the leading crypto coins.
“Also, Shiba Inu coin launched as the Doge Killer as a joke because apparently there’s only room for one weird token based on a certain breed of dog. I didn’t even know there was room for one of those, but apparently there’s room for two, and now a ton because that token also went viral, became mainstream. I think up something like 90 million percent from the initial launch and now those tokens have spun off sub-tokens.
“So you have like the alt of the altcoins. So now you have the Shiba Inu Girlfriend coin, or like $SHIBGF. You have the Dogelon Mars coin. So, you know, if you’re out there experimenting with crypto and buying tokens, have some fun with your crypto, you know, definitely buy the big players and the big coins and buy some of the fun altcoins.
“But just remember: whatever you’re going to do, you need a portfolio of coins. I would never recommend to anyone, you know, put your entire life-savings on just $DOGE, don’t do that. Don’t watch this video and say Randi’s telling me to like put it all on the Dogelon coin. You have to have a portfolio and I also recommend doing dollar cost averaging, which is where you’re repeatedly buying the same coin over a length of time so that you’re buying it at an averaged out price. You’re not just going all in on one day with one token. So, you know, have some fun with your crypto be smart and be savvy.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.