Are The Days Of Meme Coins Mania Over? Market Trends Suggest A Shift To Subst...
In a market that has long been captivated by the rapid rise and often speculative nature of meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE, a notable shift is underway. According to Ki Young Ju, the CEO of CryptoQuant, the once-dominant meme coins are witnessing a decline in market influence, potentially signaling a maturing cryptocurrency landscape. Related Reading: Trump-Inspired Memecoins Crash 30% After Rumors Of Trump’s Official Token Launch The Decline of Meme Coins Dominance Ki Young Ju’s analysis reveals a significant reduction in the dominance of meme coins....
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While crypto-asset markets have shed billions during the last week, the top meme tokens coins by market capitalization have seen deeper losses than most coins. The top two meme digital assets dogecoin and shiba inu have seen double-digit losses during the last seven days. The top meme tokens coins by market capitalization today are worth $60.7 billion losing 3.5% in value over the last 24 hours.
Dogecoin and Shiba Inu Lose Double-Digits Last Week
During the course of the year, meme-based crypto assets were all the rage and many of them have gained significant value in 2021.
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Meme coins have fallen into a certain level of obscurity since the bear market began. It is an effect of the market-wide decline in interest in all things cryptocurrencies since prices of digital assets are down more than 70% from their all-time highs. However, it seems that meme coins are not yet completely out of […]
As digital asset markets have shed significant value during the last two weeks, the top meme coins by market capitalization have dropped considerably against the U.S. dollar. 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
On Monday, January 24, 2022, the top meme coins by market capitalization have lost 3.1% over the last day. Currently, the myriad of meme tokens today account for $36 billion of the $1.7 trillion crypto....
Meme coins marked some of the most prominent growth during the rise of the crypto market in 2021. ROI on investments in digital assets like Dogecoin and Shiba Inu was off the charts when they went from obscurity to being some of the most popular cryptocurrencies. On the flip side of this, meme coins have […]
Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as the price drop means many of them have now fallen out of profitability. Interestingly, IntoTheBlock’s “In/Out Of The Money” metric shows a varying level of profitability in each meme coin, and it seems like SHIB holders are currently feeling the heat the most.....