In 2021, meme-based crypto assets skyrocketed in value following the lead of the original meme crypto-asset dogecoin’s massive gains. This week a great number of digital currencies have rebounded in price but a slew of popular meme tokens are not doing so hot this week. However, one specific meme-crypto called “cake monster” has jumped 112% in value during the last 24 hours.
Dogecoin and Shiba Inu Markets Have Seen Better Days
Bitcoin.com has covered a wide variety of meme-based cryptocurrencies that followed the ‘Dogefather’s’ 8,818% one-year gains. Doge has seen a triumphant rise in 2021 thanks to mainstream media coverage and shoutouts from the Tesla CEO Elon Musk.
Doge has gained 36.5% during the last month, but dogecoin is down 13% over the course of the week. At the time of writing, a single DOGE is swapping for $0.284508 per unit.
Another meme-asset that took the crypto world by storm is Shiba inu SHIB as it has outpaced dogecoin’s gains gathering a whopping 8,750,740% in less than 12 months.
But just like Doge, SHIB is down 14.8% during the last seven days. SHIB has only gained 16.6% during the last 30 days and at the time of writing a single SHIB exchanges hands for $0.00000721 per token.
Cake Monster Performance Outshines All the Meme Token Markets
Those two crypto assets are the largest meme-based cryptos in terms of market capitalization as DOGE has a $37 billion market valuation and SHIB has a $3.5 billion capitalization.