Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95%

Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95%

Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95%

Five months in the past, the highest meme cryptocurrencies by market valuation have been valued at $33.7 billion and right this moment, the meme coin financial system is 55% decrease, right down to $14.9 billion on September 23. During the final month, dogecoin misplaced 12.8% in worth, and shiba inu is down 19.4% in opposition to the U.S. greenback in 30 days.

Dogecoin, Shiba Inu, Baby Doge Coin Dip Lower Losing Between 12.8% and 19.4%

Today, the meme coin economy is price almost 15 billion U.S. {dollars} and out of dozens of meme tokens, 25 of them have the time period “doge” of their title. 18 of the tokens have the title “shiba” and 30 crypto meme cash have the time period “canine” of their title.

The oldest and largest meme crypto asset, when it comes to market capitalization, dogecoin (DOGE), remains to be a heavy hitter on this planet of cryptocurrencies. DOGE is the tenth largest crypto coin by market capitalization because it’s valued at $7.97 billion. Out of your complete meme token financial system, dogecoin’s market cap is 53.48% of the $14.9 billion.

The second largest meme token is shiba inu (SHIB) with its $6.33 billion market valuation. SHIB’s market cap represents 42.48% of your complete meme coin financial system and it’s ranked 13 among the many 12,983 crypto property in existence. Between DOGE and SHIB, the 2 meme tokens dominate the $14.9 billion in crypto meme cash by 95.96%.

Out of your complete crypto financial system price $965 billion right this moment, the DOGE and SHIB market caps mixed equate to 1.483% on Friday, September 23, 2022. The third largest meme coin asset is child doge coin (BABYDOGE), however its market cap is way smaller at $178.90 million.

BABYDOGE’s market valuation equates to 1.2% of your complete crypto meme financial system. During the final two weeks, child doge coin misplaced 3.3% and over the previous month, the meme token is down 16.4%.

Five months in the past, the meme coin financial system was in significantly better standings and was coasting alongside at $33.7 billion on the time. Today, at $14.9 billion, the meme coin financial system has misplaced 55% in USD worth since then.

While DOGE, SHIB, and BABYDOGE had a lackluster week, a handful of meme tokens noticed double-digit features this previous week. For occasion, iotexshiba (IOSHIB) is up 48.3%, metadoge (METADOGE) has climbed 47.9%, and boss (BOSS) has risen 43.2% in opposition to the U.S. greenback in seven days.

In phrases of meme coin token losers this week, duckereum (DUCKER) misplaced 32.8%, shibaken finance (SHIBAKEN) shed 27.6%, and hoge finance (HOGE) is down 24.8%.

What do you consider the meme coin financial system’s current value motion? Let us know what you consider this topic within the feedback part beneath.

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