The dogs are back.
The cryptocurrency Shiba Inu, whose logo is a large dog's head, has temporarily risen in the double-digit percentage range in the past few days.
Actually, one might have thought that after all the drama surrounding the insolvent crypto exchange FTX and the turbulent crash of Bitcoin and Co., some sense had returned.
That investors finally stop putting money into useless cryptocurrencies like dog coins.
To hope so was obviously wrong.
Fear of missing out and greed still drive many people to such pointless investments.
Actually meant for fun
The first currency with a dog logo was invented by two developers to make fun of the insane world of Bitcoin.
Other variants, including Shiba Inu, were added later.
In the crypto frenzy a little over a year ago, dog coins then experienced an unexpectedly rapid rise in price - until the tremor in the market yanked them back down.
Now, however, the willingness to take risks is noticeably returning among some investors.
In early January, they cheered the largely unknown cryptocurrency Bonk, also with a dog logo, to the top.
The price has risen by 5000 percent at times.
For Shiba Inu, a technical shift has fueled investor hope and boosted demand.
A useless investment
But that will not change the fact that such fun coins are still useless.
There are no investments behind this that bring economic progress, as is the case with other asset classes.
Anyone who invests in stocks participates in the success of a company that produces goods and offers services.
When you invest in bonds, you give a company credit so that it can innovate.
These cryptocurrencies, on the other hand, are purely a game of chance without any real economic benefit.
The money could definitely be better invested.