- The memecoin market cap has declined in the last 24 hours.
- These assets have seen double-digit increases despite the market cap decline.
As a seasoned cryptocurrency analyst with years of experience observing and dissecting market trends, I find the recent developments in the memecoin sector particularly intriguing. The double-digit increases seen by several assets despite the overall market cap decline is a testament to the unpredictable nature of this space.
Over the past week, the value of meme coins has seen significant ups and downs. However, their total market worth has decreased slightly within the last day.
In the last week, various meme coins have experienced significant price increases. The competition between coins featuring dogs and cats as their themes has generated a lot of buzz.
Memecoins market cap declines
Based on information from CoinGecko, over the past 24 hours, the cryptocurrency market has experienced a decline of over 6%, resulting in a current market capitalization of approximately $54.6 billion.
As a crypto investor, I’ve noticed that the collective market value of Dogecoin (DOGE) and Shiba Inu (SHIB), two popular memecoins with dog themes, surpassed an impressive $29 billion in our latest analysis.
These two meme cryptocurrencies accounted for over half of the total market value in the memecoin sector, highlighting their substantial influence and volatility within the digital currency market’s lighter-hearted realm.
How dog-themed memecoins have fared
According to AMBCrypto’s examination of the meme coin sector, Dogecoin held the top spot with a market capitalization exceeding $19.4 billion. In the last seven days, the value of Dogecoin experienced a growth of over 10%.
At the moment of publication, its price was around $0.13, having dipped by more than 2% during the previous day.
Over the past week, dogwifhat (WIF) has emerged as the top gainer among memcoins with a canine theme, boasting a noteworthy 20% price surge.
Similar to Dogecoin, the value of Dogwifhat has dropped in the past 24 hours and is now priced at approximately $2.61, representing a fall of more than 3%.
How cat-themed memecoins have trended
At present, POPCAT, the memcoin with a feline theme, held the top position in its sector, boasting a market capitalization of over $774 million. The currency experienced robust growth at the beginning of the week, with gains exceeding ten percent. However, this upward trend seems to have lost momentum.
In the past week, Popcat underwent a 1.8% decrease in worth. At this moment, its price hovered approximately around $0.79. Notably, within the previous day, it plummeted by over 8%.
Meanwhile, cat in a dogs world [MEW] has emerged as the standout performer among cat-themed assets.
Over the past week, MEW has experienced a remarkable increase of 89% in value, placing it at the forefront of gains amongst the leading assets in its class.
As a crypto investor, I’d like to share that when I checked MyEtherWallet (MEW) price recently, it was hovering around $0.0073. Surprisingly, there was a noteworthy uptick of over 3% in its value. Moreover, its market capitalization had experienced substantial growth, exceeding $649 million.
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2024-07-23 23:04