Over the last month, Meme Tokens have gained more than 7% against the US dollar. Meme coins took a blow during the FTX mania and before the bankruptcy filing when the crypto market suffered substantial volatility in value. The meme token economy was valued at $18 billion on November 9, two days before FTX declared Chapter 11 bankruptcy protection.
A Rise in the Meme Coins
As per archive.org snapshot of coingecko.com records from November 9, 2022, Dogecoin (DOGE) dropped 16.5% versus the US dollar that day. Shiba Inu (SHIB), the second biggest meme currency in terms of market capitalization, lost 10.8% of its value that day.
Baby dogecoin (BABYDOGE), the third-largest meme token (at the time), dropped 14.2% of its value 30 days ago on November 9. The meme coin economy has recently recovered, with the total value of meme token assets published on coingecko.com estimated to be $19.4 billion on December 9, 2022.
#Dogecoin vs. #Shiba Inu: #SHIB price to overthrow #DOGE and rally 40%https://t.co/fksiqO0c8f
— Ragnar Shib (@RagnarShiba) December 9, 2022
This indicates that the meme coin economy grew by $1.4 billion in the last 30 days or a 7.77% rise versus the US dollar. DOGE has had a strong month versus the US dollar, climbing 29.4% in 30 days and 7.8% in the previous two weeks.
Dogecoin’s market capitalization climbed from $11.63 billion to $13.30 billion between November 9 and December 9. Shiba Inu (SHIB) grew by roughly 5.9% in the previous 30 days and by 0.3% in the last two weeks.
Baby doge currency has increased by 13% in the previous month, while dogelon mars (ELON), the current third biggest meme coin by market size, has increased by 40.2%. This month, the value of the meme token floki (FLOKI) increased by 30.6%, while the value of the kishu inu (KISHU) increased by 8.5%.
Dogelon mars (ELON), Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), kishu inu (KISHU), doge killer (LEASH), baby dogecoin (BABYDOGE), and samoyedcoin(SAMO) are among the top 10 meme coin economic tokens now.