Sunday, June 23, 2024

Meme Coin Economy Records 7.77% Increase Against US Dollar.

In November, the meme coin economy saw its value increase 7.77% against the US dollar with Dogecoin surging nearly 30% higher. The meme coin managed to move from the ninth-largest market cap position to the eighth-largest crypto market valuation in the past month. However, fellow meme coin Shiba Inu dropped from the 13th largest market cap to the 14th spot.

Dogecoin was recently trading at $0.09656 after having dropped by 1.77% in the last 24 hours. Shiba Inu down by 0.93% was holding at $0.000009235, as per data from CoinMarketCap. Before FTX’s collapse, meme coins sustained a hit when the crypto market saw significant fluctuations in value. The leading meme coin DOGE suffered a huge loss just two days before FTX filed for Chapter 11 bankruptcy. It dropped 16.5% against the US dollar, while Shiba Inu lost 10.8% in value that day. BABYDOGE, the third-largest meme token lost 14.2% in value on November 9.

Since then, the meme coin economy seems to have recovered. The meme coins listed on Coingecko were worth around $19.4 billion on December 9. This suggests that the meme coin economy topped up by $1.4 billion in the past 30 days. It saw an increase of 7.77% against the US dollar. Dogecoin’s market valuation, between November 9 and December 9, increased from $11.63 billion to $13.30 billion. On the other hand, Shiba Inu climbed around 5.9%. Furthermore, the baby doge coin gained 13% over the last month and Dogelon mars (ELON) grew 40.2%.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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