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Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95% – Markets and Prices Bitcoin News

Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95% – Markets and Prices Bitcoin News

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Five months ago, the most valuable meme cryptocurrencies on the market were worth $33.7 billion, and today the meme economy is 55% lower, down to $14.9 billion on September 23rd. In the last month, dogecoin lost 12.8% of its value and Shiba Inu has fallen 19.4% against the US dollar in 30 days.

Dogecoin, Shiba Inu, Baby Doge Coin Dip Reduces Loss 12.8-19.4%

Today, the meme coin economy is worth nearly US$15 billion, and 25 of the dozens of meme tokens have the term “dogge” in their names. 18 of the tokens have the name “shiba” and 30 cryptomeme coins have the word “dog”.

DOGE/USDT September 23, 2022.

The oldest and largest meme cryptocurrency by market value, dogecoin (DOGE), is still a big hit in the cryptocurrency world. DOGE is the tenth largest cryptocurrency by market capitalization with a value of $7.97 billion. Of the entire meme token economy, dogecoin’s market capitalization is 53.48% of $14.9 billion.

SHIB/USDT 23/09/2022.

The second largest meme brand is Shiba inu (SHIB) with a market cap of $6.33 billion. SHIB’s market capitalization represents 42.48% of the entire economy of the meme coin, and ranks 13th among the 12,983 cryptocurrencies in existence. Between DOGE and SHIB, these two meme tokens control 95.96% of the $14.9 billion in crypto meme coins.

BABYDOGE/USDT 23/09/2022.

Out of the entire crypto-economy, which is worth $965 billion today, DOGE and SHIB combined market caps are 1.483% as of Friday, September 23, 2022. The third largest meme coin asset is baby Doge coin (BABYDOGE), but its market cap is much smaller 178.90 million dollars.

BABYDOGE’s market value corresponds to 1.2% of the entire cryptomeme economy. In the last two weeks, the baby Doge coin has dropped 3.3% and in the last month, the meme token has dropped 16.4%.

Five months ago, the meme money economy was in a much better position, at $33.7 billion at that time. At $14.9 billion today, the meme coin’s economy has lost 55% of its USD value since then.

While DOGE, SHIB, and BABYDOGE had a lackluster week, a handful of meme brands posted double-digit gains this 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 seven days.

Among the meme coin losers this week, Duckereum (DUCKER) lost 32.8%, shibaken finance (SHIBAKEN) lost 27.6%, and Hoge finance (HOGE) lost 24.8%.

Tags in this story

Baby Doge Coin, BABYDOGE, BOSS, Coins, crypto meme coins, Doge, DOGE and SHIB clones, dogecoin, duckereum (DUCKER), HOGE, Hoge finance, iotexshiba (IOSHIB), Market Update, Markets, memes, meme assets, meme coins, Meme Tokens, meta doge, prices, shib, Shiba inu, shibaken funding (SHIBAKEN)

What do you think of the recent price action in the meme money economy? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director of Bitcoin.com News and a financial technology reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols appearing today.




The authors of the picture: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for information only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damages or losses caused or alleged to be caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.



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