Meme Coins At A Glance: Dogecoin, Shiba Inu, Dogelon Mars, How Are They Doing So Far In 2022?

Mayowa Adebajo
January 9, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
What is the fate of meme coins in 2022?

2021 was quite the bizarre year for meme coins as most of the coins outdid themselves in the year, seeing strangely insane rallies that caught the attention of virtually everyone. So significant were the rallies, that some of the meme coins even broke into the list of top 10 crypto by market capitalization for some period. However, this only lasted for so long as the last few months of the year saw the coins falling, thereby displacing them entirely from off the top 10 list.

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Shiba Inu and Dogecoin: The Center of 2021 Meme Coins Craze

For all intents and purposes, both DOGE and SHIB saw very high rallies in 2021 that no one could have thought possible. Not even in the crypto world.

It all began when Tesla CEO, Elon Musk started tweeting frequently about Dogecoin after the automaker made its first purchase of Bitcoin. Musk’s tweets would later spark the unbelievable run that the coin had a short while after.

Shiba Inu would later draw inspiration from Dogecoin as many other new coins also did. SHIB and some other meme coins had rallies even more unbelievable than DOGE’s. The most notable one was Shiba Inu’s out-of-the-world rally in October where at a point, the meme coin surged 1000% in just 30 days.

By that time, Shiba Inu also made the top ten crypto by market cap list and even surpassed Dogecoin on the list for a while.

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What Does The Future Hold For Meme Coins?

Most meme coins have now faltered, especially since the final months of last year and are now out of the top ten crypto list entirely.

In fact, an Arcane Research report predicts that most of the meme coins will go into obscurity in 2022, but we are only a week into the year. So let’s just take a look at how the coins are fairing at the moment.

DOGE Price

At the time of writing, Dogecoin’s price floats around $0.1505, down 12.88% in the past 7 days. Here is a chart that shows the trend in the price of the coin over the last five days:

Meme coin DOGE price action
DOGE has plunged in the past couple of days | Source: DOGEUSD on TradingView

SHIB Price

The price of Shiba Inu at press time is $0.00002818, down 16.80% in the past 7 days. Below is a chart of the coin’s price trend over the last five days:

Meme coin SHIB price action
After plumbing for days, SHIB might finally be taking off from Jan 8 low | Source: SHIBUSDT on TradingView

Dogelon Mars

The price of Dogelon Mars at the time of writing floats around $0.000001242, down 24.80% in the past 7 days.

While they all seem to be on a downward trend, there is absolutely no cause for alarm yet. This is because there is a general downtrend in the entire crypto markets including Bitcoin and Ethereum. And obviously, Dogecoin and Shiba Inu are still holding their own in the meme coins world.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Mayowa Adebajo is a fintech enthusiast with a decade-long experience writing news stories and creating content generally. When he's not writing, he's either talking politics or discussing sports.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.