Altcoin Leaders Include Dogecoin, Shiba Inu, Dogelon Mars Enjoy Astronomical Gains in October 2021.
2021 was the year of non-fungible tokens, decentralized finance (defi), and meme tokens. There were approximately 30 crypto assets that looked like dogecoins in August. Today, 45 tokens have the words “dog”, “shiba,” or “inu” in the names. These coins have experienced astronomical gains, surpassing some of the most advanced blockchain assets.
Who let the dogs out? Market Gains are No Joke: Doge-Like Meme tokens
In terms of fiat gains, digital meme-based currencies have performed exceptionally well in 2018. All eyes were on DOGE (Dogecoin), the original meme cryptocurrency, at the start of the year. Dogecoin’s year-to date gains have reached a staggering 10,360%, which is more than BTC’s 350% gain in the past year and ETH’s 1,014% 12-month gains. DOGE soared to $0.731 an unit on May 8, six months after DOGE spent years below one penny US per token.
Nearly eight years ago, the Dogecoin network was launched. Today there are 45 meme-based cryptocurrency assets that have the terms “dog”, “shiba” and “inu”. This is 15 more canine coins than Bitcoin.com News had 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 has gained a whopping 815% during the last month alone and reached 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 hasn’t been around for a whole year, but during the last 30 days, the crypto asset has risen 3,930% in value. Baby doge coin (BABYDOGE) is the seventh-largest meme crypto in the bunch and it has spiked 560% during the last month. In the last seven days, safemoon inu (SMI) has spiked 540% and polydoge (POLYDOGE) jumped 459% this past 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 meme-based crypto assets that are not tied to the terms “dog,” “shiba,” and “inu” in their name, coins bearing those descriptive terms are the top dogs of the meme market revolution.
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 recorded and 100 points is the highest score a trend can achieve. The term “SHIB” dropped the following day on October 28, tapping 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 following day as the search query “dogecoin” scored an 89 in contrast to the 93 “SHIB” scored on Thursday.
