Shiba Inu and SafeMoon were some of the fastest-growing cryptos of 2021

Over the past few years, memes have become quite synonymous with the social media culture. Almost every social media platform possesses groups that are focused on making memes and the viewers love them! Memes are a popular part of the internet today, and quietly likely, the crypto market has also welcomed memes with open arms. Shiba Inu and Dogecoin are some of the most popular meme coins that are making huge strides in the crypto market. Considering the historic uncertainty and suspicion around its legitimacy, meme coins have come a long way. The battle between the dog coins heated up the crypto market, with investor speculations raising the bars for both the cryptos. In the meantime, another new cryptocurrency, SafeMoon, has made the war between the cryptos even more interesting. But despite the weird story behind the origins of these cryptos, these satirical coins have gathered sizeable amounts of charms from the investors. As the coins’ popularity grew, so did their price values, going from one tiny fraction of a penny to a slightly bigger fraction of a penny. Recently, experts have accused Shiba Inu and SafeMoon to overshadow Dogecoin. But is it true? Or Dogecoin is just losing its market dominance?

The Value of Dogecoin

Experts have claimed that Dogecoin is not a worthy choice as a long-term investment, and one of the major reasons is inflation. Every year, about 5 billion DOGE tokens are created out of thin air and introduced into its existing supply of 130.5 billion supply with no upper limit. This neglects the entire appeal of cryptocurrencies that attracts investors who wish to try their luck in the decentralized market.

Dogecoin was on fire after Elon Musk tweeted about it, stating that the crypto was worthy of long-term investments. But for the past couple of months, Dogecoin’s growth has been excessively slow. Even though Shiba Inu and SafeMoon are equal culprits in this, truth be told, DOGE’s developments have been quite slow. In a market where the top cryptocurrencies are changing networks to provide the best possible services to their investors, Dogecoin has been sitting quietly. Back in 2021, SafeMoon and Shiba Inu were some of the fastest-growing cryptocurrencies that attracted massive volumes of new investors. 

Are Shiba Inu and SafeMoon good investments in 2022?

Firstly, Shiba Inu has managed to set up a record-high gain in 2021. This means that SHIB investors have mostly managed to gain massive amounts of profits over the past year. The fuel for Shiba Inu’s historic rally has been its increased visibility. It is also one of the most-searched cryptocurrencies in the US, and the number of investors holding SHIB tokens exceeded 1.1 million. Now, talking about SafeMoon, the coin attracted the attention of many crypto-influencers. There are no positive distinguishing features associated with SafeMoon, but still, the crypto bore huge profits and rose to new highs as more investors flocked to it. 

Some of the widespread skepticism around meme coins and the new emerging altcoins have created an aura of fear around investing in digital assets. Dogecoin, like any other cryptocurrency, suffered adversely during the crypto market meltdown, but due to its slow development incidences, other major cryptocurrencies like Shiba Inu and SafeMoon have taken over it.