Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More
29 Décembre 2021 - 8:00PM
NEWSBTC
With Dogecoin and Shiba Inu at the center, 2021 observed an
incredible memecoin mania.. Both DOGE and SHIB saw rallies that
were unprecedented even in the crypto world. Dogecoin Vs Shiba Inu:
The Stage Of The 2021 Memecoin Mania 2021 had some absurd memecoin
rallies, but at the center of it all was of course the battle
between the two dog coins, DOGE and SHIB. It all began when, soon
after Tesla had made its purchase of Bitcoin, Elon Musk began to
make frequent tweets about Dogecoin. This would become the spark
for several incredible runs that the coin would have shortly after.
At the same time, the WallStreetBets community also started making
deep option bets on AMC, GME, and CLOV. The rally was carried by
memes, and one of the catchphrases used by users was “We Like The
Stock.” A similar thing was seen in the crypto community, where
members would say “We Like The Coin” regarding Dogecoin and other
memecoins. Supported by community memes and Elon “Doge father”
Musk’s tweets, the memecoin went on an absurd run. Many other new
coins were inspired by it, including Shiba Inu. Here is a chart
that shows how Dogecoin performed over the course of the year 2021:
Doge's incredible 2021 | Source: The Arcane Research Weekly Update
- Week 51 SHIB (and some other memecoins) had rallies even more
incredible than DOGE’s. However, following the Tesla CEO’s
appearance at the Saturday Night Live where he jokingly called the
coin “a hustle,” the coins had a quick market-wide crash.
Nonetheless, the market made a comeback later in the year. And in
October, Shiba Inu had an out-of-the-world rally where at one point
the memecoin was 1000% up over the span of 30 days. Related Reading
| Bitcoin Bearish Signal: Trend Is Again Shifting From
Outflows To Inflows The below chart shows how SHIB’s price changed
over the period of 2021: SHIB's run during 2021 | Source: The
Arcane Research Weekly Update - Week 51 During the latest rally,
Shiba Inu briefly entered into the top ten crypto by market cap
list, and for a duration even surpassed Dogecoin on it. However,
both the coins have faltered in the past couple of months, and are
now out of the top ten crypto list entirely. Related Reading
| Why Bitcoin Will Never Surpass The Market Cap Of Gold The
Arcane Research report predicts that most of the memecoins will
have become obscure in 2022, only serving as a reminder of the
bizarre year that was 2021. DOGE Price At the time of writing,
Dogecoin’s price floats around 0.17043, down 18% in the past month.
Here is a chart that shows the trend in the price of the coin over
the last five days: DOGE has plunged in the past couple of days |
Source: DOGEUSD on TradingView Featured image from Unsplash.com,
charts from TradingView.com, Arcane Research
Dogecoin (COIN:DOGEUSD)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Dogecoin (COIN:DOGEUSD)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024