While crypto asset valuations have improved significantly over the last month of 2018, meme-based cryptocurrency assets have performed well against the U.S. dollars. On June 21, 2013, the most valuable meme coins by market capitalization were $14.5 billion. The meme coin economy has grown to $18.1 billion since August 13, a 24.82% increase.
Meme Coins Gain Against The US Dollar, Hoge Finance And Baby Doge Lead the Pack
Meme-based tokens have seen an increase in value since the crypto economy’s recent downturn. Although the increase in cryptocurrency value has been positive, the meme-based tokens have not experienced the same bounce back that many other cryptocurrencies experienced the past few weeks. Dogecoin (DOGE), on the other hand, increased by 17.9% in 30 days. Bitcoin (BTC), however, increased 20.7% while ethereum (ETH), jumped by 78.5%.
Dogecoin remains the leader of all meme coins, with a market capitalization of roughly $9.7billion today. DOGE increased by 5% against USD and 1% against BTC in 24 hours. The last day saw $450 million in global DOGE swaps. USDT, USD and BUSD were the top pairs that traded against DOGE, respectively. KRW accounted for more than 57%. Tether (USDT), however, commands more trading volume than any other dogecoin.
Market cap aside, shiba inu is second most popular meme coin (SHIB), with a valuation of $7.42 trillion on August 13. SHIB’s gains have been better than DOGE over the past month. The 30 day stats indicate that SHIB has increased by 19.4%. SHIB’s value has increased 64% year-to-date compared with August 2021 prices. SHIB trades at $446m less than DOGE, with only $26 million in the last 24 hours. SHIB’s top five trading pairs include USDT, USD, BUSD, TRY, and USDC, with tether (USDT) capturing over 66% of all SHIB swaps.
During the past month, DOGE and SHIB have seen greater gains in baby doge coins (BABYDOGE), which is the third largest meme coin asset. BABYDOGE’s value against the U.S. Dollar has increased 21.4% in the past 30 days. BABYDOGE’s market capitalization is now much lower than that of the two top meme coin asset leader. It is currently at $245million on August 13. BABYDOGE traded volume for the 24-hour period is lower at $5.1million, with trades in the last 24 hours. USDT leads BABYDOGE’s trading pairs with 77.38%. USDC, BUSD and TRX are next.
The last week has seen five meme coins assets rise above 45%, including HOT DOGE (HOTEDOGE), DOBO (DOBO), DOBE (DOBO), DOBO (DOBO), DOBO (DOBO), DOBO (DOBO), SPKY (SPKY) and CAT (cat). The largest meme coin loser this week was chihuahua Chain (HUAHUA), Kitty Coin Solana (KITTY), catecoin, CATE, LDOGE (Litedoge) and Puli (PULI). These five assets lost 13.6% to 33.9% over the past seven days. HOGE was this week’s leader, increasing by 71.2%, while the biggest meme coin loser HUAHUA shed 33.9% in value.
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