2021 has been the year of decentralized finance (defi), non-fungible tokens (NFTs), and meme tokens as well. In the first week of August, around 30 dogecoin-type crypto assets existed and today there are now 45 tokens with the terms “dog”, “shiba” and “inu” in their names. Many of these coins have seen astronomical gains this year, outperforming some of the most sophisticated blockchain assets.
Who let the dogs out? Doge-Like Meme Tokens Are No Joke When It Comes To Market Gains
Memes-based digital currencies have performed extremely well this year in terms of fiat gains. At the beginning of the year, all eyes were on dogecoin (DOGE), when the original meme crypto skyrocketed in value. Dogecoin has gained 10,360% since the start of the year, which is well above the 350% gain in BTC last year and the 1,014% 12-month gain in ETH. After spending years below a U.S. penny per token, DOGE surged to $0.731 per unit six months ago on May 8.
Almost eight years ago, the Dogecoin network launched on December 6, 2013 and today there are 45 crypto assets based on memes with the terms “dog”, “shiba” and “inu” in their names. That’s 15 dog coins more than the Bitcoin.com News tally recorded in the first week of August.
Many of these coins have seen phenomenal gains like shiba inu’s (SHIB) 83,639,360% massive rise during the last 12 months. SHIB gained a whopping 815% in the last month alone and hit an all-time high on October 28.
The digital asset dogelon mars (ELON) is the fifth-largest meme-based crypto asset, according to Coingecko’s “Top Meme Tokens by Market Cap” list. Dogelon Mars has not been around for a year, but in the last 30 days, the value of the crypto asset has increased by 3.930%. Baby doge coin (BABYDOGE) is the seventh-largest meme crypto in the bunch and it has spiked 560% during the last month. In the past seven days, safemoon inu (SMI) has climbed 540% and polydoge (POLYDOGE) has jumped 459% last week.
Dogecoin and Shiba Inu See Google Trends Search Queries Rise in October
What bitcoin saw during the last year in terms of gains, these meme-based dog crypto assets have outperformed during the last month and even the last seven days. While there are a few hundred crypto assets based on the memes that are unrelated to the terms “dog”, “shiba” and “inu” in their name, coins with these descriptive terms are the main dogs of the revolution. of the memes market.
Both dogecoin (DOGE) and shiba inu (SHIB) have been the top two dog coins holding the ranks and during the last month, Google Trends (GT) worldwide data indicates on October 27, the term “SHIB” scored 100 points. GT data is based on the number of “SHIB” queries Google has logged and 100 points is the highest score a trend can achieve. The term “SHIB” was deleted the next day, October 28, with a GT score of 93.
While the search query “SHIB” got a 100 on October 27, the same day the query term “dogecoin” scored a 53. However, things changed quickly the next day as the search query “dogecoin” “got an 89 while the 93 didn’t.” SHIB “scored on Thursday.
