The top two week-old meme coin market capitalizations have fallen significantly against the U.S. dollars as digital asset markets lost significant value. The top meme asset dogecoin has lost 23.9% over the last seven days, while shiba inu’s value was reduced by 31.1% this week.
Dogecoin down 80% since All-Time High; Shiba Inu down 75% since High
Mon, January 24, 2022: The market capitalisation of the most popular meme coins fell 3.1% during the previous day. The $1.7 trillion cryptocurrency economy is currently $36 billion in debt. Dogecoin’s (DOGE), has fallen 23.9% over the past week and 27.6% in the last month. Since last year, dogecoin remains up by 1,486% against USD.
Dogecoin’s market valuation of around $17.8 billion, is 1.05% of the crypto economy’s overall capitalization. The crypto asset’s 24-hour price range has been between $0.143480 to $0.126030 per DOGE. SHIB, the second largest crypto-asset, is currently down by 30.6% in the past seven days and 42.1% over the course of the month.
SHIB’s market valuation of around $$11.7 billion represents 0.68% of the entire crypto-economy on January 24. SHIB’s 24-hour price range has been between $0.00002282 to $0.00001894 per unit. SHIB’s market cap and DOGE together amount to $29.5billion, 81.94% of $36 billion in meme coin economics.
Dogecoin (BABYDOGE) and Shiba Inu were not the only mem coins to see significant weekly percentage drops. Over the past seven days, baby doge (BABYDOGE), and spell tokens (SPELL) both lost 32.5%. Boxer inu (BOXER), a token that is relatively new, managed to rise 108.6% during this week.
Below BOXER is the hotdoge old-style (HOTDOGE) which saw 11.1% growth during week. Vitoge, luna, and smugdoge all gained between 3 to 4.8% over the week. Jomon shiba and cat token lost the most value this week. They dropped between 58% and 58.9% against the U.S. Dollar.
A lot has changed in the last year as far as meme coins are concerned as dogecoin’s market cap was once larger than today’s entire meme token economy. These two coins may also have been affected by the large number of DOGE and SHIB-clone clones, as people tried to find next dogecoin ruler. Today there are over two dozen meme coins with the term “doge” involved and another two dozen with the term “shib” involved in the token’s name.
Let us know your thoughts on the memcoin economy’s significant loss of value over the past seven days. Comment below and let us know how you feel about the subject.
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