There is no doubt that bitcoin is still the queen of cryptocurrencies (accounting for 42% of the total market). However, during 2021 altcoins have driven the cryptocurrency world, which came to exceed a market capitalization of 3 trillion dollars.
Shiba Inu (SHIB) is leading these altcoins, since this year the value of the token grew by 2,400,000% and it is currently number 13 at CoinMarketCap’s ranking. So, If someone had invested US$100 in Shiba Inu in September 2020, one year later they would have US$2,000,000.
SHIB was created anonymously in August 2020 under the pseudonym Ryoshi. The meme coin quickly gained speed and value, and became really popular, especially thanks to headlines and tweets from personalities such as Elon Musk and Vitalik Buterin.
In 10th position is Dogecoin (DOGE), another meme-based cryptocurrency that increased 9,567%. It became a success particularly after Elon Musk started mentioning it on social media and it ended up building its own community and taking off in a huge way.
The open source digital currency was created by Billy Markus of Portland, Oregon and Jackson Palmer of Sydney, Australia. It is based on the popular internet meme doge and features a Shiba Inu in its logo.
DOGE’s price today is US$0.218076 and it has a market capitalization of US$28,840,457,384. It also has a circulating supply of 132,249,672,335 DOGE coins and the main exchanges to trade Dogecoin are currently Binance, Mandala Exchange, CoinTiger and OKEx.
Behind dogecoin is Terra (LUNA), which had a price jump of 6,496%. The token was developed by the South Korean firm Terraform Labs. Terra’s price exploded in January when it raised US$25 million in a funding round from Galaxy Digital, Coinbase Ventures, Pantera Capital and others.
Terra combines price stability and widespread adoption of fiat currencies with resistance to Bitcoin (BTC) censorship and it also offers fast and affordable deals. Terra’s price today is US$39.25, its current CoinMarketCap ranking is number 14 and has a market cap of US$15,655,478,076. It also has a circulating supply of 398,864,382 LUNA coins and the main exchanges to trade on Terra are currently Binance, Mandala Exchange, OKEx, and Huobi Global, among others.