Whereas Beneficial properties Have Been Slower Than Most Crypto Property, Meme Coin Economic system Swells by 24% – Bitcoin Information
While a great number of crypto asset values have over the last month, meme-based crypto assets have also improved against the US dollar. 53 days ago on June 21, the top meme coins by market valuation were once worth $14.5 billion and since then, the meme coin economy has grown by 24.82%, tapping $18.1 billion on August 13.
Meme Coins Advance 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. While the rise has been beneficial, meme-based crypto tokens have not seen the bounce back in value a great majority of cryptocurrencies have experienced over the last few weeks. For comparison, dogecoin (DOGE) increased by 17.9% during the last 30 days while bitcoin (BTC) increased by 20.7% and ethereum (ETH) jumped 78.5%.
DOGE/USD chart on August 13, 2022.
Dogecoin is still the king of all the meme coins with the largest market capitalization, which is roughly $9.7 billion today. DOGE has increased 5% against the US dollar and 1% against BTC during the last 24 hours. In terms of global trade volume, $450 million worth of DOGE swaps took place during the last day. The top five pairs traded against DOGE include USDT, USD, BUSD, BTC, and KRW, while tether (USDT) commands more than 57% of all dogecoin trades.
SHIB/USD chart on August 13, 2022.
The second-largest meme coin by market cap is shiba inu (SHIB) as it has a $7.42 billion valuation on August 13. SHIB has seen better gains than DOGE during the last month, as 30 days stats show SHIB has swelled by 19.4%. Year-to-date, SHIB has gained 64% in value compared to the prices recorded in August 2021. SHIB has a touch less volume than DOGE with $446 million traded during the past 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.
BABYDOGE/USDT chart on August 13, 2022.
Meanwhile, the third-largest meme coin asset, baby doge coin (BABYDOGE) has seen larger gains than DOGE and SHIB during the last month. BABYDOGE has increased 21.4% against the US dollar during the last 30 days. The BABYDOGE market capitalization today is much smaller than the top two meme coin asset leaders as it is coasting along at $245 million on August 13. 24-hour BABYDOGE trade volume is also lower, at $5.1 million in trades during the last day. USDT dominates BABYDOGE trading pairs by 77.38% while USDC, BUSD, and TRX follow.
Five meme coin assets have risen above 45% during the last week including hoge finance (HOGE), hot doge (HOTDOGE), dogebonk (DOBO), spooky shiba (SPKY), and moon cat (CAT). The biggest meme coin losers this past week includes chihuahua chain (HUAHUA), kitty coin solana (KITTY), catecoin (CATE), litedoge (LDOGE), and puli (PULI). Those five meme coin assets have lost between 13.6% and 33.9% during the last seven days. HOGE was this week’s leader, increasing by 71.2%, while the biggest meme coin loser HUAHUA shed 33.9% in value.
Tags in this story
Baby Doge Coin, BABYDOGE, CAT, Cryptocurrencies, Digital Currencies, DOBO, Doge, dogecoin, Dogecoin (DOGE), dogefi, Gains, HOGE, hoge finance, hotdoge, JEJUDOGE, litedoge, Losses, markest, Market Update, Markets, Meme Coins , Meme Cryptos, Meme Markets, Meme Tokens, Poodl, Prices, shib, shiba inu, shiba inu (SHIB), SPKY
What do you think about the top meme coin market performance? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.