Today’s top meme coins have lost 4.8% in value against the U.S. dollar as the cryptocurrency market carnage has wreaked havoc on the entire digital currency economy. Although dogecoin had a phenomenal year in 2021, dogecoin has lost 82.8% against the U.S. dollar in the last 12 months.
One year ago today, DOGE hit an all-time high, but since then the value of the coin has fallen 82%
This week, meme coin assets are falling following the rest of the crypto economy in a downward spiral. Statistics show that dogecoin (DOGE) has fallen 14% in the last month and shiba inu (SHIB) has fallen 24% in 30 days.
$28.3 billion worth of meme tokens lost 4.8% in value in the last day alone. DOGE has lost 1.7% in the last seven days, and this week SHIB is down 6.8%. DOGE is also down 82.8% from the crypto-asset’s all-time high of May 8, 2021, which is exactly one year ago.
DOGE reached ATH about $0.731 per unit at this time. Six months ago SHIB reached ATH at $0.00008616 per unit, and today its price is down 78% since then. Both DOGE and SHIB account for most of the $28.3 billion market capitalization of meme tokens, representing 95% with a combined market valuation of about $26.9 billion today.
Google Trends data shows low interest in Dogecoin and SHIB
While much of the meme economy has lost significantly in value recently, a relatively unknown meme token called litedoge (LDOGE) gained 400% this week. The token Poodl (POODL) is up 34.2% and dogefi (DOGEFI) is up 27.3% in the last seven days. However, jejudoge (JEJUDOGE) lost 44.6% this week, lets go brandon (LETSGO) fell 43.3%, and shiba fantom lost 28.9% against the US dollar.
Last year, meme tokens were at their peak in popularity, but interest seems to be fading fast. After Google Trends (GT) scored 100 points last May, this year the search phrase “dogecoin” scored three points in the same one-week period. SHIB reached 100 points in October, and GT data shows that the search phrase “SHIB” scored four points this week, according to global statistics.
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