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Prices of Karate Crocodile, Che Guerilla Slide into Correction Territory
Valuations of Karate Crocodile and Che Guerilla dropped by nearly 15% today, dragging the non-fungible token market further into correction territory.
Following other such iconic digital assets as Gentleman Giraffe and Flying Koala Bear with Laser Beams Shooting from Her Eyes deeper into the red, the failure of major support levels in the NFT market could signal that its investors might need to start searching for real jobs again.
"It's a bitter pill, but forecasts for even the so-called blue chip NFTs like Bored Ape and Tiger with Bowl on His Head and Dynamite Stick in His Teeth are not favorable," Morgan Stanley Advisor Diana Lange remarked. "At the end of the day, it remains that buying and re-selling cartoon pictures of frogs in spacesuits is not a viable way to make a living."
Still, other less-orthodox analysts remain optimistic.
"Sure, it's easy to say that NFTs are a bubble poised to burst because they hold no inherent value. That NFTs are a stupid, wasteful trend that essentially amounts to a pyramid scheme subscribed to by people trying to get rich without doing any work, but the truth is that all of that just happens to be the wave of the future," argued CrypoKitty Fund Manager Panda Pufferfish.
Continued Pufferfish: "I project that NFTs will continue to grow as more people look to retire before even entering the job market. And if they don't, well, we can all just keep living for free in your parents' basement."
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