Bloomberg Intelligence Senior Macro Strategist Mike McGlone sounded the alarm on the potential perils of investing in meme cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB), amidst a brewing economic storm.

McGlone expressed confidence that Bitcoin (BTC) would continue to outshine other digital assets. However, he painted a less rosy picture for DOGE and SHIB, labeling them as “nothing but sheer speculation engines” that should be purged from the market. With the Federal Reserve tightening its grip and a recession looming, he urged investors to let go of these speculative assets.