- Meme coins have risen from relative obscurity to unprecedented popularity.
- Dogecoin (DOGE) and Shiba Inu (SHIB) achieved huge increases and are now in the top ten currencies in terms of market cap.
- Dogecoin began the year at USD 0.004681 and has since risen by over 15000 percent to USD 0.7376.
- Despite the massive price rise, Shiba Inu’s returns dwarfed DOGE’s, increasing over 70,000,000 percent and creating billionaires out of its early investors.
The year 2021 was the year of meme coins. Almost all significant and well-known cryptocurrencies reached all-time highs, with Bitcoin and Ethereum having 134 percent and 563 percent gains, respectively.
Shiba Inu (SHIB) price increases after a slow start in 2022
Shiba Inu has followed in the footsteps of Dogecoin since its inception in 2020. Self-styled as a DOGE-killer, it exceeded its canine cousin in terms of percentage gain in 2021. It fell in value at the start of the new year, following Dogecoin and the bulk of the rest of the market. SHIB has dropped by more than 70% from its high in 2021.
Source – TradingView
SHIB, on the other hand, has begun to rise once again. No other currency in the top 20 cryptocurrencies has gained at price more than Shiba Inu between January 12th, 2022, and the time of writing. On the 12th, it rose 14.53 percent and will attempt to stabilize.
Dogecoin (DOGE) counteracts December drops
The crypto market had a lot of strong drops around the end of 2021. Dogecoin was not immune, as it sank to a 30-day low of USD 0.1398, a drop of 80% from its all-time high. Many significant crypto assets had recovered somewhat by the middle of January 2022. Dogecoin has gained by about 6% in a 24-hour period as of January 13th and is now worth USD 0.1656.
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