It went so well, but also Dogecoin and Shiba Inu are losing billions of dollars in value. Read here how much.
In recent weeks, all crypto coins have lost value. So a dip. At least, until now. Of course it could always be much worse. And while crypto asset markets have lost billions in the past week, the coins with the best meme tokens by market cap have suffered bigger losses than most coins. The top two digital meme assets Dogecoin and Shiba Inu have suffered double-digit losses in the past seven days.
Dogecoin and Shiba Inu lose
The best meme tokens coins (by market cap today) are worth about $60.7 billion. Over the course of the year, meme-based crypto assets were all the rage and many of them have gained significant value in 2021. The two meme-based cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) were once the top ten contenders in terms of market cap. However, after taking some losses, both Dogecoin and Shiba Inu dropped out of the top ten.
Dogecoin is the largest meme-based crypto asset in terms of overall valuation. At the time of writing, the coin is in place 11 wat Re Market capitalization. The crypto asset has a market value of approximately $28.9 billion as Dogecoin has fallen 16.7% in value in the past week.
Shiba Inu is currently the 14th largest, in terms of market capitalization. And the second largest in terms of meme-based coins. SHIB has lost 18.1% in the past week and has a market cap of approximately $23.8 billion.
Decline
We can therefore say that the coins have decreased in value. Significantly too. But the general picture remains positive. Since its inception, meme coins have soared. Perhaps this is a correction and the way up will follow soon. The fact remains that digital currencies are quite volatile.
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