RBA issues speculative warning on cryptocurrencies: in particular Dogecoin and SHIB

On November 20, Australian financial institutions issued cryptocurrency warnings urging local investors to be particularly wary of Meme coins such as Dogecoin and SHIB. Tony Richards, head of payments policy at the Reserve Bank of Australia, said cryptocurrency was the preferred investment for many Australians, with 5% of Australians holding Dogecoin. Tony Richards explains that Meme coins have recently emerged from online celebrities and celebrities on Twitter, but the market value of cryptocurrencies like SHIB has increased, but not performing well. He also spoke about the risks associated with digital benefits. The demand for crypto assets will decrease in the future.