- Based on gains, Shiba Inu, Sandbox, and Axie Infinity are the top 3 cryptocurrencies of 2021.
- Axie Infinity and Sandbox feature among the top 10 performing cryptocurrencies as adoption of metaverse and gaming tokens increases.
- Altcoins have stepped up, confirming declining Bitcoin dominance and the rise of metaverse and gaming tokens.
Bitcoin’s dominance takes a hit as metaverse, and dog-themed tokens gain popularity. Over the past two months, there has been a massive spike in active wallet addresses holding Shiba Inu.
Shiba Inu, Axie Infinity and Sandbox dominate list of top performing cryptos
Shytoshi Kusama, Shiba Inu project leader and one of the lead developers, believes that SHIB is the future of gaming. The dog-themed cryptocurrency is poised to be a game-changer in the blockchain gaming industry.
Shiba Inu team partnered with AAA games, a celebrated developer, to build the Shiba Inu gaming ecosystem. Over the last weekend, the number of Shiba Inu holders crossed 1,040,000.
The steady increase in the number of holders of dog-themed tokens can be attributed to 270,000% gains offered by Shiba Inu since the beginning of 2021.
Metaverse and blockchain-gaming tokens Axie infinity and Sandbox have witnessed a spike in the number of active users. Axie Infinity and Sandbox offered 18,500% and 12,500% in profits since January 2021, respectively.
Alex Krüger, a cryptocurrency analyst, revealed the top 10 performing cryptocurrencies of 2021 in his recent tweet:
Top 10 performing coins of 2021
— Alex Krüger (@krugermacro) December 6, 2021
#1 $SHIB +270,000%
#2 $GALA +39,000%
#3 $AXS +18,500%
#4 $OMI +12,700%
#5 $SAND +12,500%
#6 $LUNA + 9,700%
#7 $MATIC +9,700%
#8 $SOL +8,700%
#9 $KDA +8,100%
#10 $FTM + 7,600%
Interestingly, Bitcoin dominance continues to drop as metaverse and gaming tokens gain popularity in the crypto ecosystem.
Cryptocurrency analysts have noted that despite the flash crash in the overall cryptocurrency market, metaverse tokens are still in demand.
Sandbox posted nearly 200% gains in November 2021. The metaverse token’s price is currently in a downward trend.
@imBagsy, a pseudonymous cryptocurrency analyst, believes that Sandbox has lost its uptrend.
$SAND
— Bagsy (@imBagsy) December 5, 2021
Lost its uptrend, prob gonna act like quicksand for the next while. pic.twitter.com/CdpGoDWR53
FXStreet analysts have evaluated the Shiba Inu price trend and confirmed a capitulation set up with tons of upside potential.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms
Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.