2021: The Rise of Meme Coins Dogecoin, Shiba Inu, NFTs and DAOs.
10 Dec 2021, 08:00
2021: The Rise of Meme Coins Dogecoin, Shiba Inu, NFTs and DAOs
The year 2021 will forever be remembered in the digital asset ecosystem as the year that came with a ton of surprises for keen watchers of the space. From NFTs to DAOs and meme coins, no one could have predicted the course of the year.
It’s 2021 And Memecoins Are Not Jokes AnymoreMeme coins grabbed the markets by the scruff of its neck with Dogecoin and Shiba Inu leading the charge. Dogecoin, founded way back in 2013 as a joke shot to prominence this year after receiving backing from Elon Musk and other celebrities. The result was the gargantuan leap by over 1,000% that sent the asset to the top of the charts as it asserted its dominance.
Against the backdrop, Shiba Inu rode the waves created by DOGE and equally rose astronomically, essentially giving life to the phrase, meme coins. Without any exact use cases, investors have flocked to this new asset class in droves as the markets saw two meme coins occupy the 9th and 10th spot on the charts. At their peak, SHIB and DOGE controlled a market capitalization that exceeded $50 billion.