The meme cash economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme concoct by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba inu, has gapped 71.9% in 30 days. Since Jan. 9, 2023, the overall value of the meme token economy has increased by $5.8 billion.
Dogecoin and Shiba Inu Direct Meme Coin Market With 94% Market Share
The top meme coins by market capitalization have gain ground in value against the U.S. dollar this past month. According to statistics recorded on Jan. 9, 2023, via archive.org, the meme dream up earn economy was valued at $16.8 billion 27 days ago. As of 9 a.m. ET on Feb. 5, 2023, the meme coin economy is currently valued at $22.6 billion, a 5.4% expand over the previous day.
Over the past 27 days, meme tokens have added $5.8 billion in value and made more than 34% against the greenback. This week’s largest gainers among meme tokens count pomeranian eth (POM), up 117.2%, baby doge coin (BABYDOGE), up 113.9%, and polydoge (POLYDOGE), up 86.7%. The two leading meme coins in span of times of market valuation, dogecoin (DOGE) and shiba inu (SHIB), have increased 5.3% to 22.1%, with SHIB understanding the larger gains.
Dogecoin (DOGE) and shiba inu (SHIB) make up $21.32 billion, or 94.34%, of the total $22.6 billion in the meme change economy. Dogecoin has risen 29.4% this month, while shiba inu has increased 71.9% against the greenback. The the greater part of the meme coin economy’s value was acquired in 2023. On Dec. 18, 2022, 49 days ago, the market valuation of all meme tokens was $16.4 billion. Since then, the meme coin frugality has grown 36.96% against the U.S. dollar.
On Feb. 5, 2023, the largest gainers among meme coins over the past 24 hours classify arbinu (ARBINU), which rose 51.9%, duckereum (DUCKER), up 43.5%, and onigiri neko (ONIGI), which boost waxed 35.3%. The largest meme coin, dogecoin, decreased 1.7% against the U.S. dollar, while shiba inu gained 1.5%.
The third-largest meme coin, pet doge coin, increased 18.9% during the last 24 hours. Despite a 34% rise against the U.S. dollar and $5.8 billion in value added in 27 periods, most of the market activity remains focused on the top two coins, DOGE and SHIB, indicating that demand for meme become wealthy assets continues to exist.
What do you think approximately the current state of the meme coin economy? Will the trend of growth continue, or do you see a decline in the near future? Let us recollect what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo acknowledgment: Dennis Diatel / Shutterstock.com
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