Although the crypto asset market lost billions of dollars in the last week, the meme token with the highest market capitalization has lost more than most tokens. In the past 7 days, the top two memetic digital assets Dogecoin and Shiba Inu have experienced double-digit losses. Today’s most valuable meme token is worth $60.7 billion and has depreciated 3.5% in the past 24 hours.
Dogecoin and Shiba Inu fell by double digits last week
During the year, meme-based crypto assets were all the rage, many of which gained considerable value in 2021.
The top two meme-based cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB), were once the top ten competitors in market capitalization. However, today, after suffering some losses, Dogecoin and Shiba Inu both fell out of the top ten.
In terms of overall valuation, Dogecoin (DOGE) is the largest crypto asset based on memes. Among the 10,975 coins that exist today, DOGE is also the 11th largest by market capitalization. Since the value of Dogecoin fell by 16.7% last week, the market valuation of crypto assets is approximately US$28.9 billion.
In the past 24 hours, the trading volume of Dogecoin has also fallen to USD 995 million in DOGE swaps. At the time of writing, the price of DOGE is $0.220 per unit, which is more than 69% below its all-time high (ATH).
DOGE received approximately $0.731 in ATH on May 8, 2021, about seven months ago. Despite the loss, Dogecoin’s 12-month return rate is still about 6,200%.
Shiba inu (SHIB) is today the 12th largest by market capitalization and second in terms of meme-based coins. SHIB fell by 18.1% last week and has a market value of approximately US$23.8 billion. SHIB fell by more than 3% today, in exchange for $0.00004395 per unit.
Today’s Shiba Inu price is more than 48% lower than the crypto asset’s ATH on October 28, at $0.00008616. At the time of writing, the global SHIB transaction volume in the past 24 hours was $1.7 billion.
Despite the recent decline, 30-day statistics show that SHIB has risen by 57%. In addition, the 12-month return of SHIB is also much higher than that of DOGE, an increase of 62,589,642%.
Not all meme coins have fallen this week, as a large number of little-known meme-based crypto assets have seen double-digit growth.
Jomon shiba (JSHIBA), shih tzu (SHIH), shibance token (WOOF), doge NFT (DOG) and dogebonk (DOBO) rose 11% to 84.4% last week. DOBO’s 84% gain made memetic currency the best performing memetic asset last week.
What do you think of the recent top meme coins and the loss of value of the meme-based crypto economy? Please tell us your thoughts on this topic in the comments section below.
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