Shiba Inu Was Cheap Once: DOGEBALL Meme Coin Whitelist Is in That Phase Right Now

Shiba Inu (SHIB) and Meme Coin Trends in 2026

Shiba Inu (SHIB) remains among the largest meme coins despite losing over 90% of its peak value from 2021. The token, known for its lack of fundamental value and speculative nature, has drawn criticism for its entertainment-driven narrative and unpredictable price movements. Meme coins often struggle to maintain long-term investor interest, especially after rapid gains are followed by steep corrections.

DOGE-based memecoins are also attracting attention. DOGEBALL is currently in its whitelist phase, a common step in token launches that can generate speculative interest before broader trading begins. This phase is often used to gauge demand and prepare for liquidity on decentralized exchanges.

MiniDoge (MINIDOGE) announced the launch of its DEX 2.0 testnet on 02 Jan 2026. The upgrade introduces one-click trading for 50+ public-chain tokens and opens MiniDoge staking with DOGE rewards. Testnet launches typically precede mainnet rollouts and are used to verify smart contract functionality and liquidity mechanisms.

Why Did This Happen?

Shiba Inu's early success was built on hype, including the controversial transfer of half its token supply to Ethereum co-founder Vitalik Buterin. The move, described as a publicity stunt, did not establish a clear value proposition for the token. Instead, SHIB has continued to trade at levels far below its 2021 peak, reflecting the high-risk nature of meme-based assets.

The DOGEBALL project aligns with recent trends in DOGE-based tokens, which have seen increased adoption following Dogecoin's price stabilization in 2025. Meme coins in this category often benefit from viral community-driven campaigns and tokenomics designed to encourage early participation through whitelist phases.

MiniDoge's DEX 2.0 testnet is part of a broader trend in decentralized finance (DeFi) to improve usability and accessibility. The platform's focus on one-click trading and DOGE-based staking aims to reduce the complexity of DeFi interactions according to market analysis.

How Did Markets Respond?

The broader crypto market has shown mixed signals. Ethereum's daily transaction volume reached 2.1 million in December 2025, the highest in a decade, despite a decline in its price to $2,900. This suggests strong network activity even as token prices remain under pressure.

DeFi projects like Mutuum Finance (MUTM) are advancing toward a V1 launch, having completed core lending features and security reviews. The protocol plans to deploy its beta version on the Sepolia testnet and will eventually support stablecoin lending and Layer-2 transactions to reduce costs and improve speed according to project updates.

Investor behavior has also shifted as more capital flows into regulated crypto products. U.S. spot crypto ETFs received $32 billion in inflows in 2025, despite a year-end pullback. BlackRock's iShares Ethereum Trust ETF (ETHA) remains the largest, with over $12.6 billion in assets under management.

What Are Analysts Watching Next?

Analysts are monitoring the regulatory environment, particularly the potential passage of the U.S. Clarity Act in 2026. This legislation could provide much-needed legal clarity for projects like Ethereum and reduce uncertainty for institutional investors according to market forecasts.

New token launches, including Trump Media's planned crypto offering for shareholders, may test investor sentiment in a more skeptical market according to business reports. The token will be distributed on the Cronos blockchain, with potential rewards for holders. However, analysts warn that market fragmentation could dilute demand and reduce long-term value.

MiniDoge's testnet success could influence broader adoption of similar DeFi platforms, particularly those with strong token incentive models according to market analysis. Investors are also watching how Ethereum's layer-2 ecosystem and tokenized assets perform in 2026.

The coming months will likely bring more crypto ETF launches, with over 100 expected under the SEC's new generic listing standards. However, many may fail to gain traction due to competition and low demand according to industry analysis.