Cryptocurrency perhaps, its market can be considered as the one that gives the best value for the risks taken. However, the risks taken can result in large gains as well as large losses, and for this reason, investors need to pay close attention.
in 2021, the joke provided a summary of this situation in coins. Seen as quite risky the joke coininvestments made at the right time brought great profits to the investor, making him almost rich, while investments at the wrong time caused investors to suffer very large losses.
Dogecoin and Shiba Inu
Dogecoin and Shiba Inu received more attention in 2021 compared to other joke coins. Because popular names such as Elon Musk and Mark Cuban have seriously supported these two cryptocurrencies and caused the formation of pumps. As after each pump, dumps were seen on these two coins.
Dogecoin saw the ATH level with $0.74 on May 8, according to Binance data, and has recently been moving horizontally THE DOGEit can be stated that it is trading at $ 0.18, approximately 73% below the record level of .
Shiba Inu on the other hand, it saw its record high with $0.00088 on October 28 and has been keeping pace with the market in recent days SHIB it is trading at $0.000033, approximately 60% below this level.
The Joke Coin Market
Especially dec the rise in Dogecoin, a large number of meme tokens have been released to the market repeatedly. To give an example of these:
- Dogelon Mars (ELON)
- Baby Doge Coin (BABYDOGE)
- CateCoin (CATE)
- SafeMoon Inu (SMI)
- Magic Internet Money (MIM)
- Akita Inu (AKITA)
It is worth noting that at this point the list is much longer. According to CoinGecko data, currently all mem token its market capitalization is at the level of 48.9 billion dollars.
Considering all these data, it is still worth noting that the hype in the joke coin ecosystem is very high, and although real-world uses are gradually starting to occur in relation to joke coins, most tokens in this area are still very risky.