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Meme-Coins lose 3.5%, DOGE and SHIB suffer double-digit losses in one week



Total crypto market cap has lost billions in the past week, but meme token coins lost more than most. Shiba Inu (SHIB) and Dogecoin (DOGE), the two meme coins with the highest market capitalization, posted double-digit losses last week.

The top meme coins by market cap are currently worth $ 60.7 billion and have lost 3.5% in the past 24 hours, reports Bitcoin News.

Is that the end of meme tokens?

Meme tokens were hugely popular throughout 2021, and many of them gained significant appreciation that year. Until recently, Dogecoin and Shiba Inu were in the top ten coins by market capitalization.

Shiba has apparently permanently dropped to 12th place, with the 13th coin, CRO, Crypto.com's native token, on its heels. Avalanche and Dogecoin alternately took 10th and 11th place. The ultimate winner remains to be seen.

How the biggest players measure themselves

In terms of overall rating, Dogecoin (DOGE) is the largest meme-based crypto asset. It has a market cap of just under $ 30 billion but has lost nearly 6% in value over the past 7 days. At the time of writing, the coin is trading for $ 0.2262. However, the return per year is still around 6,200% despite the losses.

Shiba Inu, the second-largest meme coin, is doing a little worse. SHIB is down 13.46% in the last 7 days and has a market cap of around $ 23.36 billion at the time of writing. It is down nearly 6% today and now changes hands at $ 0.00004244.

The current price is almost 50% of what it was about a month ago. However, the data for the past month shows that SHIB is still up 57%. In addition, the annual return is even more impressive than that of DOGE: an increase of 62,589,642%!

Meme-Coins

As you can see, the top meme coins are not doing as badly as they may seem. Additionally, DOGE and SHIB have spawned a number of lesser-known meme coins, the prices of which have skyrocketed.

These include Jomon Shiba (JSHIBA), Shibance Token (WOOF), Shih Tzu (SHIH), the Doge NFT (DOG) and Dogebonk (DOBO), which have grown from 11% to 85% in the last 7 days. DOBO made progressive gains and is up 22.86% today.

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