Metaverse and dog-themed tokens beat Bitcoin as top performing cryptos in 2021
- 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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
