What Awaits DOGE, SHIB, DAO NFTs Next Year?
The Year Is 2021 And Meme Coins Are No Longer A Joke
Meme crypto coins have gained the upper hand in the market under the leadership of Dogecoin and Shiba Inu. Dogecoin has become one of the most prominent tokens this year after receiving support from Elon Musk and other celebrities. Dogecoin has increased its price by over 1.000% with the strong support it has received behind it. Thus, it quickly reached the top of the list by market capitalization.
In the background, Shiba Inu also benefited from the rise of the DOGE, and the two meme coins experienced a tremendous price increase in a short time. Without any definite use cases, the markets have two meme coins on the charts at 9. and 10. as we saw it coming next, investors flocked to this new asset class. At its peak, SHIB and DOGE controlled a market dominance of over $50 billion.
Decentralized startups are back this year after they fail in 2017. This year, DAOs put their stamp on the ecosystem with ConstitutionDAO, which raised a record $45 million in one week to bid for a copy of the U.S. constitution.
Digital collection products reached new levels in the first quarter of 2021 after a downturn in the market. the first half of 2021 saw a record NFT sale of over $2.5 billion, where digital artworks were sold for millions. This is a big improvement from the first half of 2020 when NFT sales were $ 13.7 million.
NFTs became prominent in the fields of art, music, sports, and gaming. As more NFTs continue to be printed, this year retired sports legends, music icons, and sports clubs have struck deals to incorporate the asset class into their platforms.
2021 was the year of DAOs, NFTs, and meme coins, and the pace has already been set for 2022. Some coins, such as SHIB, are considering a first in NFTs that could bring the asset class to a wider range of investors.