Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) are two of the most popular meme coins on the market. Both tokens have seen impressive gains in 2021, but their momentum appears to be slowing in 2024.

Shiba Inu has dropped 12-month lows in Google search trends. It is still up 3.43% over the past 24 hours as of the time of writing, but its trading volume has fallen by over 50%.

At the time of writing, Shiba Inu is trading at $0.00001276. It has a market cap of $7.52 billion and a 24-hour volume of $130.46 million.

Dogecoin is up 4.82% over the past day, and it trades at $0.1849. Its market capitalization of $27.66 billion is still among the greatest in the meme coin space, but its trade volume has fallen by over 50% to $1.01 billion.

What Happened

Both Shiba Inu and Dogecoin were able to achieve incredible surges in 2021. Both tokens had the attention of mainstream investors and the financial media throughout much of last year.

Shiba Inu went on an astounding run in the second half of 2021, as it rose from $0.00000001 in early 2021 to a high of $0.000080 in late 2021.

Dogecoin also went on an impressive surge last year, as it rose from a low of $0.10 in March 2021 to a high of $0.76 in May 2021.

Both tokens have struggled to maintain their momentum in 2024. They are still in the green on the year, but they have yet to reach the new highs that they hit in late 2021.

Shiba Inu is now up 226.64% year-to-date, while Dogecoin is up 447.77% year-to-date.

Shiba Inu and Dogecoin are two of the best-known meme coins on the market. Both tokens have been the subject of great interest from investors in 2023. A recent report from InvestingPro highlighted how interest in Shiba Inu and Dogecoin has dropped 12-month lows on Google Trends.

At the same time, interest in a new altcoin called Remittlix (RTX) is heating up as the token prepares for its exchange listing.

Shiba Inu Cannot Get Community Mania Back on Track

From meme coin investors’ top pick, Shiba Inu Coin is now seeing a lull in its popularity and search volume. Despite a 3.43% price hike to $0.00001276, trading volume is at a mere $130.46 million, over 50% lower.

This downturn indicates diminishing trader enthusiasm. Shiba Inu Coin built its reputation on strong social activity and token burns, but the present rate shows less passion compared to 2021.

With a market cap of $7.52 billion, SHIB is not disappearing, but expect no parabolic rallies unless new drivers appear.

Dogecoin Is Steady But Missing the 2021 Blaze

Dogecoin is up 4.82% over the past day at $0.1849. Although its market capitalization of $27.66 billion is still among the greatest in the meme coin space, trade volume has seen a greater reduction, by over 50% to $1.01 billion.

Elon Musk’s influence on Dogecoin price activity has abated since 2021, and no notable development or utility upgrade has been revealed to ignite long-term investor appeal.

Without a compelling story, Dogecoin may become more of a crypto artifact than a dynamic player.

PEPE Finds Support But Faces Cooling Interest

PEPE (CRYPTO: PEPE) price rose to $0.00001137, 2.71% higher in the last 24 hours. It has a market cap of $4.78 billion and a $860.76 million 24-hour volume, although the latter is over 40% lower.

While newer than DOGE and SHIB, PEPE is on the same track now, instant viral mania and then slowly fading away.

PEPE will need more than memes to regain its momentum of growth; platform inclusion or utility would be its long-term survival.

Why Analysts Say Remittlix Could Be the Next Big Winner

While Google searches for meme coins like Dogecoin and Shiba Inu Coin are going in the opposite