2021 is about to end, and the market value of meme-based digital currencies such as Dogecoin and Shiba Inu are particularly prominent this year. In fact, meme crypto assets worth US$46.9 billion account for 2% of the US$2.32 trillion crypto economy. Dogecoin and Shiba Inu alone account for approximately 85.28% of the current meme crypto market valuation.
Meme-based crypto economy will reach 46 billion U.S. dollars in 2021
For meme-based crypto assets, this year is a good year. For example, the OG Dogecoin (DOGE) based on meme assets, the market valuation of YTD has soared 4,375.9% so far this year. Dogecoin Is biggest In terms of market value, meme-based crypto assets were valued at approximately US$22.8 billion on Sunday, December 19. Second largest In terms of market value, memecoin is Shiba Inu (SHIB). Year-to-date, the exchange rate of encrypted assets SHIB against the US dollar has increased by 46,960,505.7%.
Both of these coins have inspired other meme-based crypto assets to flourish. Doggron Mars (ELON) became the fifth largest meme crypto market valuation with US$591 million, and Baby Doge (BABYDOGE) With a market value of US$258 million, it currently ranks sixth.
Dogecoin and Shiba Inu 2021 also inspired a large number of “dog” or “Shiba Inu breed” coins, as there are dozens of tokens with these names. Although there are a lot of meme-based assets in 2021, dog and SHIB Occupies 85.28% of the meme encryption economy, occupying a dominant position.
In the past week, a dozen Meme coins have seen double-digit and triple-digit growth. Meme tokens below DOGE and SHIB accounted for 0.296% of the entire crypto economy
although Dogecoin and Shiba Inu In recent weeks, the value has fallen. In the past 7 days, a large number of meme coins have shown double-digit or even triple-digit gains. Last week, the wallstreetbets dapp (WSB) token rose by 177.5%, while Solana’s kitten token (KITTY) rose by 117.9% this week. Jeju Island (JEJUDOGE) has soared 112% in the past 7 days, while Wu Fei (WOOFY) has risen 47%. Other notable meme coin gains this week include shibavax (SHIBX) up 37.2%, smugdoge (SMUG) up 24%, and Spell token (SPELL) up 23% last week.
Although there are countless meme coins today, dog and SHIB In the long run, they are still the leaders. The market capitalization of the two is much larger, the transaction volume is much larger, and the acceptance level exceeds the memetic assets below them. For example, DOGE and SHIB are used by a large number of exchanges, and merchant processors like Bitpay support these two tokens.Apart from Dogecoin and Shiba Inu, The $6.9 billion meme coin economy below them only accounts for 0.296% of the entire $2.32 trillion crypto economy.
How do you think Dogecoin and Shiba Inu account for more than 85% of today’s $46.9 billion meme-based crypto asset economy? Please tell us your thoughts on this topic in the comments section below.
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