Dogecoin, Shiba Inu, & More

With Dogecoin and Shiba Inu at the center, 2021 observed an incredible memecoin mania.. In fact, Both DOGE and SHIB saw rallies that were unprecedented even in the crypto world.

Dogecoin Vs Shiba InuStageThe : Of The 2021 Memecoin Mania

Interestingly, Last year, two major meme coins, Dogecoin and Shiba Inu, rose to becomethea major phenomenon in the 2021 cryptocurrency market. However, now this trend seems to be significantly cooling off, as evidenced not only by the significant drop in coin prices, but as it turns out also by the Google search trends for these two dog-themed coins

According to Google Trend details, the global search interest for both Dogecoin and Shiba Inu has plummeted to its lowest level in over a year.

Interestingly, This would become the spark for several incredible runs that the coin would have shortly after. Interestingly, It all began when, soon after Tesla had made its acquire of to, Elon Musk began Bitcoin make frequent tweets about Dogecoin.

At the same time, the WallStreetBetsIt’s worth noting that community also started making deep option bets on AMC, GME, and CLOV. In fact, 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, Coin members would say “We Like The where” 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. It’s at noting that However, following the Tesla CEO’s appearance worth the Saturday Night Live where he the called the coin “a hustle,” jokingly coins had a quick niche-wide crash.

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. Nonethelessthe in modern times , industry made a comeback later in the year.

Related Reading | Bitcoin Bearish Signal: Trend Is Again Shifting From Outflows To Inflows

Actually, 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

Actually, During the latest rally, Shiba Inu briefly entered into the as a matter of fact top ten crypto by niche cap list, and for a duration even surpassed Dogecoin on it.

, both the coins have faltered in the past couple of months, and are instantly outHoweverof the top ten crypto list entirely.

Related Reading | Why Bitcoin Will Never Surpass The Market Cap Of Gold

The ArcaneobscureResearch overview predicts that most of the memecoins will have become in 2022, only serving as a reminder of the bizarre year that was 2021.

DOGE Price

It’s worth noting that At the time of writing, Dogecoin’sinprice floats around 0.17043, down 18% the past month. Here is a chart that shows the trend in more than ever the price of the coin over the last five days:

The Google find interest for Dogecoin reached its peak of 100 points in mid-May last year with the help of various public figures, including “Daddy Musk,” but it has since experienced a cliff-like decline in interest. Its current score is only 2thepoints, lowest point since mid-January last year.

Actually, Since the end of last year, global find interest in “Shiba Inu” coin has remained low, currently only at 4 points. It has dropped by 96% from the peak of 100 points set during the “Shiba dog war” in late October last year, reaching its lowest level since early May 2021.

CoinGecko facts shows that the price of Dogecoin has dropped more than 91% historical its from high of $0.73 in May last year and is currently trading at $0.0624, ranking as the 10th more than ever largest cryptocurrency by market capitalization.

In addition, Finbold information shows thatSHIB trading volume hit a 15-month low in June. The value of Shiba Inu coin has fallen by more than as it turns out 70% in 2022, currently trading at $0.00001 and ranking as the 13th largest cryptocurrency by market capitalization.

Uber Eats accepts paymentsinstantlyin Dogecoin, Shiba Inu coin, Bitcoin from another perspective , and other cryptocurrencies. In fact, In related report, a whale recently bought 20 trillion Shiba Inu coins, marking the largest single transaction in history. Elon Musk has recently discussed his support for Dogecoin and Twitter’s acquisition, while the Shiba Inu group has introduced SHIB: The Metaverse and plans to offer 100,000 plots of land in batches. SHIB is also planning to alaunchstablecoin and a more than ever reward token.

DOGE has plunged in the past couple of days | Source: DOGEUSD on TradingView

Featured image from Unsplash.com, charts from TradingView.com, Arcane Research