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Meme Coin Economy Grows by $759M in 30 Days: DOGE and SHIB Still Dominate the Market

Posted by Bill Rippel on July 24, 2023 - 1:27am


Meme Coin Economy Grows by $759M in 30 Days: DOGE and SHIB Still Dominate the Market

The top meme cryptocurrency assets, as ranked by market capitalization, have increased in value by $759 million over the past 30 days. Dogecoin (DOGE), leading the pack of meme coins, has risen more than 10% in the last month. Meanwhile, the second and third largest meme coins, shiba inu (SHIB) and pepe (PEPE) have seen increases of 1% and 1.6% respectively.

Meme Cryptocurrencies Gain $759M in a Month, Led by Dogecoin

As of Sunday, July 23, 2023, the meme coin economy is valued at $16.29 billion, up from $15.54 billion a month earlier on June 22. This indicates a gain of more than $759 million, or 4.82%, against the U.S. dollar in the top meme coin economy.

Over the past 30 days, dogecoin has increased by more than 10% and has risen 1.3% against the U.S. dollar this past week. With a market valuation of $10.12 billion, Dogecoin represents 62.12% of the total value of the meme coin economy.

SHIB has increased 1% against the U.S. dollar over the past month, though seven-day statistics show a loss of 2.7% this past week. With a market valuation of $4.61 billion, SHIB accounts for 28.29% of the net value of the meme coin economy. Combined with Dogecoin, these two coins dominate 90.41% of the meme coin economy.

Pepe (PEPE), the third largest meme coin asset, rose 1.6% over the past month. However, in the past week, PEPE’s value has decreased by 7.6%. With a market valuation of $628 million, PEPE represents 3.85% of the net value of the meme coin economy.

In the past 24 hours, the meme coin economy has seen $528 million in global trade volume. The top three performers on Sunday were kabosu inu (KABOSU), 3d3d (3D3D), and pepemon pepeballs (PPBLZ), which gained between 9.9% and 210% respectively.

The three largest decliners against the U.S. dollar in the meme coin assets were shibaken finance (SHIBAKEN), cheems inu (CINU), and dingocoin (DINGO), losing between 7% and 22% over the past day. Regarding 24-hour volume, DOGE leads, followed by SHIB and PEPE, while FLOKI takes the fourth position this weekend.

Simon Keighley The world of meme cryptocurrencies continues to exhibit its wild and unpredictable nature - the market can fluctuate dramatically within short periods. Thanks for the update, Bill.
July 24, 2023 at 5:29am