The value of the meme coin economy is up 7.77% against the US dollar over the past month, while the meme token market leader dogecoin jumped 29.4% higher in 30 days. Dogecoin also managed to move from the ninth largest market cap position to the eighth largest crypto market valuation in the past month. Shiba Inu, on the other hand, dropped from the thirteenth largest by market cap to the fourteenth spot.
Meme tokens are up more than 7% against the dollar in the past month
Amid the craziness with FTX and before the bankruptcy filing, meme coins took a hit as the crypto economy experienced significant swings in value. On November 9, two days before FTX filed for Chapter 11 bankruptcy protection, the meme token economy was valued at $18 billion.
Dogecoin (DOGE) suffered a major loss that day, falling 16.5% against the US dollar, according to an archive.org snapshot of coingecko.com’s stats on Nov. 9, 2022. The second-largest meme- currency in terms of market capitalization, shiba inu (SHIB), lost 10.8% in value that day.
The third largest meme token (at the time), baby doge coin (BABYDOGE), lost 14.2% in value 30 days ago on November 9. listed on coinecko.com is approximately $19.4 billion as of December 9, 2022.
This means that the meme coin economy is up $1.4 billion in the last 30 days or registered a 7.77% gain against the US dollar. DOGE had a good month against the dollar up 29.4% in 30 days and 7.8% in the past two weeks.
Between November 9 and December 9, the market value of dogecoin rose from $11.63 billion to $13.30 billion. Shiba Inu (SHIB) price gains over the last 30 days have been around 5.9% and in the past two weeks SHIB has increased by 0.3%.
Baby doge coin is up 13% in the past month and the current third largest meme coin by market cap, dogelon mars (ELON), grew 40.2%. The value of the meme token floki (FLOKI) is up 30.6% over the past month and kishu inu (KISHU) is up 8.5% over that period.
The list of top ten meme coin economy tokens today includes dogecoin (DOGE), shiba inu (SHIB), dogelon mars (ELON), baby doge coin (BABYDOGE), floki (FLOKI), kishu inu (KISHU), doge killer (LEASH) , tamadoge (TAMA), catecoin (CATE) and samoyedcoin (SAMO).
What are your thoughts on the market performance of the meme coin economy over the past 30 days? Let us know what you think about this topic in the comments section below.
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