Meme Tokens Fall 55% in 5 Months — DOGE, SHIB Control 95% of $14.9 Billion Memecoin Economy Markets & Prices Bitcoin News
Five months ago, the top Meme cryptocurrency by market valuation was valued at $33.7 billion. Today, the Meme coin economy has dropped 55% to $14.9 billion on September 23rd. inu has fallen 19.4% against the US dollar in 30 days.
Dogecoin, Shiba Inu and Baby Doge Coin Dip Fall Between 12.8% and 19.4%
Today, the meme coin economy is worth nearly US$15 billion, with 25 out of dozens of meme tokens containing the term “doge” in their names. 18 tokens have the name “shiba” and 30 crypto meme coins have the term “dog” in their name.
Dogecoin (DOGE), the oldest and largest memetic crypto asset in terms of market cap, is still a big hit in the crypto world. DOGE is worth $7.97 billion, making it the 10th largest crypto coin by market cap. Of the total memetic token economy, dogecoin has a market capitalization of $14.9 billion, 53.48%.
The second largest meme token is Shiba Inu (SHIB) with a market valuation of $6.33 billion. SHIB’s market capitalization accounts for his 42.48% of the total memecoin economy, ranking 13th among the 12,983 crypto assets in existence. Between DOGE and SHIB, two meme tokens control 95.96% of $14.9 billion in crypto meme coins.
Of today’s $965 billion worth of the entire crypto economy, DOGE and SHIB will represent 1.483% of the total market cap on Friday, September 23, 2022. $178.9 million.
BABYDOGE’s market valuation represents 1.2% of the entire crypto-memetic economy. Over the past two weeks, Baby Doge Coin has fallen 3.3%, while Meme Token has fallen 16.4% over the past month.
Five months ago, the meme coin economy was in much better shape, then doing well at $33.7 billion. Today, the $14.9 billion meme coin economy has lost 55% of its US dollar value since then.
DOGE, SHIB, and BABYDOGE had a lackluster week, but a handful of meme tokens saw double-digit growth over the past week. For example, iotexshiba (IOSHIB) is up 48.3%, metadoge (METADOGE) is up 47.9% and boss (BOSS) is up 43.2% against the US dollar in 7 days.
In terms of memecoin token losers this week, DUCKER dropped 32.8%, SHIBAKEN dropped 27.6% and HOGE dropped 24.8%.
What do you think of the recent price movements in the Memecoin economy? Let us know your thoughts on the matter in the comments section below.
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Meme Tokens Fall 55% in 5 Months — DOGE, SHIB Control 95% of $14.9 Billion Memecoin Economy Markets & Prices Bitcoin News
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