Crypto AnalyticsDogecoin (DOGE)

DOGE and SHIB led the package of meme-based assets in 2021, both tokens dominating 85% of the meme-coin economy – markets and prices

The end of 2021 is approaching and the market cap of meme-based digital currencies like Dogecoin and Shiba Inu has been hugely prominent this year. In fact, the $ 46.9 billion worth of meme crypto assets represent 2% of the $ 2.32 trillion crypto economy. Dogecoin and Shiba Inu alone account for about 85.28% of the meme crypto market valuation today.

Meme-based crypto-economy unlocks $ 46 billion in 2021

It’s been a good year for meme-based crypto-assets like Dogecoin (DOGE), the OG for meme-based assets, which is up 4,375.9% year-to-date (YTD) market valuation. Dogecoin is the biggest meme-based crypto asset in terms of market cap as it was valued at around $ 22.8 billion as of Sunday December 19th second largest meme coin, as measured by market capitalization, is Shiba Inu (SHIB). The crypto asset SHIB gained a whopping 46,960,505.7% against the US dollar YTD.

DOGE / USD chart on December 19, 2021.

Both coins have inspired other meme-based crypto assets to thrive. Dogelon Mars (ELON) has become the fifth largest meme crypto market value at $ 591 million, and Baby Doge coin (BABY DOGS) has a market capitalization of $ 258 million and is now the sixth largest.

DOGE and SHIB led the package of meme-based assets in 2021, both tokens dominating 85% of the meme-coin economy – markets and prices, Crypto Trading News
SHIB / USD chart from December 19, 2021.

Dogecoin and Shiba Inu also inspired a large number of “dog” or “Shiba-Inu-Breed” coins in 2021, as there are dozens of tokens with these names. Despite the massive amount of meme-based assets in 2021, DOGE and SHIB are the most dominant, capturing 85.28% of the meme crypto-economy.

A dozen meme coins have posted double- and triple-digit gains in the past week, meme tokens under DOGE and SHIB represent 0.296% of the total crypto economy

While Dogecoin and Shiba Inu Has depreciated in value in the past few weeks, in the past seven days a large number of meme coins have seen double- and even triple-digit gains. The Wallstreetbets Dapp (WSB) token is up 177.5% over the past week and Solana’s kitten coin (KITTY) is up 117.9% this week. Jejudoge (JEJUDOGE) increased 112% and Woofy (WOOFY) 47% in the last seven days. Other notable meme-coin movers this week include Shibavax (SHIBX) up 37.2%, Smugdoge (SMUG) up 24%, and Spell Token (SPELL) up 23% over the past week.

Despite the myriad of meme coins out there today, DOGE and SHIB are still by far the front runners. The two have a much larger market cap, much more trading volume, and an acceptance that extends beyond the meme asset below. For example, DOGE and SHIB are used on a variety of exchanges, and merchant processors like Bitpay both support coins. Besides that Dogecoin and Shiba Inu, the six billion nine hundred million dollar mem coin economy below that accounts for just 0.296% of the total crypto economy of $ 2.32 trillion.

What do you think of the fact that Dogecoin and Shiba Inu now rule more than 85% of the meme-based crypto-asset economy valued at $ 46.9 billion? Let us know what you think on this matter in the comments below.

DOGE and SHIB led the package of meme-based assets in 2021, both tokens dominating 85% of the meme-coin economy – markets and prices, Crypto Trading News

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 4,900 articles for Bitcoin.com News on the disruptive protocols emerging today.




Photo credits: Shutterstock, Pixabay, Wiki Commons


Source: Crypto News Austria

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button