The total value of all cryptocurrencies in circulation hit an all-time high of $3.9 trillion in December, thanks mostly to solid gains in Bitcoin (CRYPTO: BTC), which makes up more than half of that value on its own.

Shiba Inu (CRYPTO: SHIB) soared by 45,278,000% during 2021, which means had you bought it on Jan. 1 and sold it on Dec. 31, an investment of as little as $3 could have made you a millionaire. It proved to be nothing more than a speculative rally because Shiba Inu had lost more than 90% of its peak value by mid-2022.