Meme Coin Economy Grows To $5.8 Billion In Less Than A Month, Demand For Meme Tokens Still High
If we look at the market capitalization then we can say that top MEME coins have registered a significant increase in the last month against the US Dollar and this is only a result of the increase that the coin has seen. If we look, 27 days back the coin was worth $16.8 billion to its economy as per the data recorded on January 9, 2023 via archive.org. As of February 5 at 9:00 a.m. ET, the meme coin economy is currently valued at $22.6 billion, which appears to be up 5.4% over the previous day, with the coin adding $5.8 billion to its value over the past 27 days. And it yields more than 34 percent against the greenback. Behind the coin were Pomeranian eth (POM), up 117.2%, Baby DogeCoin (BabyDog), up 113.9%, and PolyDog (PolyDog), up 86.7%, as the biggest gainers this week. When we look at the market valuation, we find that in the case of Dogecoin (DOGE) and Shiba Inu (SHIB), the two leading meme coins have gained 5.3% to 22.1%, with SHIB making a big gain and In addition, Dogecoin (DOGE) and Shiba Inu (SHIB) make up $21.32 billion, or 94.34%, of the total $22.6 billion in the meme coin economy. Of course we can see Dogecoin is up 29.4% this month, while Shiba Inu is up 71.9% against the greenback, and across the board we see that most of its value was gained in 2023. 49 days ago on December 18, 2022, the market capitalization of all tokens was $16.4 billion. Overall the economy of this coin has increased by 36.96% against the US Dollar. Top gainers over the past 24 hours on February 5 include ARBINU (ARBINU), up 51.9%, DUCKER (DUCKER), up 43.5%, and Onigiri Neko (ONIGI), up 35.3%. If we look at the biggest coins among them, dogecoin was down 1.7% against the US Dollar, while Shiba Inu was up 1.5%. The 3rd largest meme coin, Baby Dog Coin, as of course gained 18.9% during the last 24 hours. Despite a 34% increase against the US Dollar and $5.8 billion in value in 27 days, most staking activity focused on the top two coins, DOGE and SHIB, indicating that Meme Coin There is demand for the property.
