Skip to content

One Coin's 99% Jump Shows Power of Crypto Memers on Social Media

Baby Doge — one of several Shiba Inu-inspired tokens that have little inherent value — has surged this year while other digital assets have tumbled.

Trade cryptocurrency market and investment in bitcoin dogecoin ETH
Photographer: primeimages/iStockphoto

The recent rally of a digital asset with no inherent value based on a puppy dog shows that the memecoin boom isn’t quite ready to be snuffed out yet.

The first weeks of 2022 have been rough for many memecoins, most which sell for fractions of a U.S. dollar. Dogecoin, Shiba Inu and Floki have all dropped between 9% and 32% since the beginning of the year, according to data from cryptocurrency tracker But another — called Baby Doge — has been bucking the trend and has jumped 99% in 2022.