Memecoins briefly took the cryptocurrency market by storm in 2021 after steady attention and shilling from big-name influencers like Elon Musk and Mark Cuban helped propel coins like Dogecoin to 100x gains.
Let's take a look at some of the most popular memecoins of 2021 to see whether they were just a flash in the pan or if there are fundamental developments that may prove fruitful in the long-term.DOGE is the original memecoin and it helped kick off the rally of ‘21 after its price skyrocketed more than 20,000% from a low of $0.0036 on January 1, 2021 to an all-time high of $0.74 on May 8.Since that time, the price has deflated along with the wider crypto market and currently trades at a $0.
The move by Musk led to speculation that DOGE could be added as a tipping currency on the social media platform if the deal eventually goes through, which led to a brief pump in the price of DOGE.
I think I'll buy some shib.
burnfloki BurnFlokiArmy
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