Meme coin market capitalization rises 14% in 2 weeks – DOGE and SHIB dominate 83%

Over the weekend, the crypto market rebounded from a two-week correction and consolidation. While certain tokens like DeFi, Metaverse, and Smart Contracts have improved a lot, meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (Elon) have also seen impressive gains over the past seven days.

The meme coin market capitalization is up 14.61% from around $ 47 billion on December 5 to currently $ 54.1 billion. Of the top 10 meme coins by market cap, eight made impressive gains over the week.

The largest meme-based crypto-asset, DOGE, is up 11.5% while SHIB is up 23.1%.

Top 10 coin memes by market capitalization | Source: Coinecko.com

The top 10 meme coins by market cap with impressive gains for the week include Elon (53.1%), Baby Doge Coin (39%), CateCoin (15.6%) and DogeBonk (27.5%). However, last week’s biggest winners were Shiba Fantom (235.2%), LUNI (130.6%), Fantom Doge (67.1%) and Kawakami (57.4%). The biggest losers in the world of coin memes are SmugDoge (-54.7%), Jejudoge (-38.1%) and Shibavax (-36.2%).

Dozens of coin memes inspired by DOGE and SHIB

With a total capitalization of the meme coin currently at $ 54.1 billion, that’s 2.17% of the broader market’s total capitalization of $ 2.38 trillion. Of that, DOGE and SHIB account for 83.17% of the total market capitalization of meme coins valued at $ 25 billion and $ 20.8 billion, respectively.

Aside from the usual coin memes that people talk about every day, like SHIB and DOGE, a number of coins have similar names.

There are currently around 24 coin memes on the market that contain the term “doge” in their name, 29 coin memes with the term “dog”, 19 coin memes with the term “Shiba”, 25 coin memes with the Term “Shib” and 12 coin memes that contain the term “Inu” in the name.

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