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.

What do you think about the meme coin token economy gaining $759 million in the last 30 days? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman