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.

Cryptocurrency millionaires who struck gold with Dogecoin (DOGE) and Shiba Inu (SHIB) are now searching for their next big win. While these two tokens remain among the top meme coins, their massive growth phases appear to be slowing down,

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.