Actually invented as a joke at the expense of the crypto sector, memecoins such as Dogecoin, Shiba Inu and Floki have long since climbed the rankings of the most valuable tokens on the market. Dogecoin is still in 10th place, Shiba Inu is in 14th place and Floki is just one spot off the top 100 at the time of writing.
But now it seems that the cryptocurrencies with the dog logos are getting their hands on it: The prices of DOGE, SHIB and FLOKI have been falling for days. And more violently than the already ailing crypto market.
Dogecoin (DOGE): Will the memecoin slip out of the top 10?
The original memecoin is one of the oldest cryptocurrencies ever. As early as 2013, Jackson Palmer and Billy Markus invented the highly inflationary token to target Bitcoin, Ethereum and Co. Meanwhile, multi-billionaire Elon Musk swears by Dogecoin so much that even the Tesla course is feeling the DOGE fluctuations.
In a 24-hour comparison, the Dogecoin price fell by 6.03 percent, in a weekly comparison it was 9.93 percent and in a monthly comparison even 21.21 percent. This puts DOGE at $0.075 at the time of writing. The memecoin’s market cap is $10.507 billion, pushing Dogecoin to the 10th most valuable coin position, ahead of Polygon.
Shiba Inu (SHIB) price: Dogecoin’s little brother is doing better
A look at the above chart of the Shiba Inu course reveals: In the past 24 hours, Dogecoin’s little brother performed similarly poorly, recording a minus of 4.55 percent. The courses are also similar in a weekly comparison: SHIB is down 13.43 percent. In a monthly comparison, however, Shiba Inu fared significantly better, only having to record a minus of 3.61 percent.
The Shiba Inu market cap at the time of writing is $6.715 billion.
Floki (FLOKI) course: Memecoin no longer a top 100 token
Like the rest of the crypto space, the memecoin Floki is also feeling the consequences of the problems surrounding the Silvergate Bank. At the moment there is a minus of 5.54 percent compared to the day. In a weekly comparison, the FLOKI course lost 14.91 percent. On a monthly basis, however, a different picture emerges: Floki was able to gain an impressive 70.81 percent in the last 30 days.
The memecoin’s market cap at the time of writing is $412.786 million.
Do you want to buy cryptocurrencies?
Trade the most popular cryptocurrencies like Bitcoin and Ethereum with leverage on Plus500, the leading platform for trading CFDs (86 percent of retail accounts lose money with the provider).
The latest issues of BTC-ECHO Magazine
You might also be interested in this