DOGE and SHIB will lead the meme-based asset pool in 2021 with a dominance of 85%
The year 2021 is drawing to a close and the market capitalization of meme-based cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) has been extremely prominent this year.
DOGE is the largest meme-based crypto-asset, with a market cap of $ 22.4 billion and year-to-date growth of 4.375% (YTD). In second place is SHIB with a market cap of $ 16.8 million, up 45,794,247% YTD.
DOGE / USD daily frame price chart | Source: Tradingview
Both DOGE and SHIB have inspired other meme-based crypto assets to thrive. Dogelon Mars (ELON) has become the fifth largest cryptocurrency meme market valuation coin at $ 591 million, and Baby Doge Coin (BABYDOGE) has a market cap of $ 258 million and to date holds the sixth place in terms of market cap.
Daily frame SHIB / USD price chart | Source: Tradingview
Both DOGE and SHIB inspired a large number of “dog” or “Shiba Inu” themed coins in 2021, and there are dozen of thematic tokens. Even so, DOGE and SHIB still dominate the market, accounting for 85.28% of the market capitalization.
The coin meme has risen by double and triple digits this week
While DOGE and SHIB have depreciated in value over the past seven days, a large number of coin memes have seen double- and even triple-digit gains. WallStreetBets DApp (WSB) is up 177.5%, Solana’s Kitty Coin (KITTY) is up 117.9%, Jejudoge (JEJUDOGE) is up 112% and Woofy (WOOFY) is up 47% in the last week . Other notable meme coins include SHIBAVAX (SHIBX) up 37.2%, SmugDoge (SMUG) up 24%, and Spell Token (SPELL) up 23% in seven days.
Aside from being leaders in market cap, the trading volume and adoption of DOGE and SHIB far surpass other coin memes. For example, DOGE and SHIB are listed on several stock exchanges and are supported by the world’s largest payment service provider Bitpay.
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