Memecoins
Cat-dog rivalry pushes memecoin market cap to $54 billion
- Memecoin’s market cap has decreased over the past 24 hours.
- These assets have seen double-digit increases despite the decline in market capitalization.
This week, coins have experienced notable fluctuations in value, despite a decrease in market capitalization over the past 24 hours.
Over the past seven days, several memecoins have seen increases in value, with the ongoing rivalry between dog and cat-themed memecoins attracting particular interest.
Memecoin market capitalization is decreasing
According to data from CoinGeckoThere has been a drop of more than 6% in the last 24 hours, bringing the market capitalization to $54.6 billion.
The analysis highlighted that the two main assets, Dogecoin [DOGE] And Shiba Inu [SHIB]two dog-themed memecoins, collectively held a market capitalization of over $29 billion.
This figure represented more than half of the total value of the memecoin market, highlighting the significant dominance of these two cryptocurrencies within this fun but volatile segment of the digital currency market.
How dog-themed memecoins fared
AMBCrypto’s analysis of the memecoin market showed that Dogecoin Dogecoin has maintained its lead with a market cap of over $19.4 billion. Over the past week, Dogecoin’s value has increased by over 10%.
At press time, the stock was trading at around $0.13 despite a slight decline of more than 2% over the past 24 hours.
Meanwhile, the top performer in the dog-themed memecoin category was dog hat [WIF]which has seen a remarkable 20% increase in value over the past seven days.
However, like Dogecoin, dogwifhat has also seen a decline over the past 24 hours, currently trading around $2.61 with a drop of over 3%.
Source: TradingView
How Cat-Themed Memecoins Evolved
Popcat [POPCAT] At the time of publication, the cat-themed memecoin was leading the sector with a market cap of over $774 million. It had a strong start to the week, with double-digit gains, but the momentum has faded.
Over the past seven days, Popcat’s value has dropped by 1.8%. At press time, it was trading at around $0.79, registering a significant drop of over 8% over the past 24 hours.
In the meantime, A cat in a world of dogs [MEW] has become the most notable actor among cat-themed assets.
Over the past seven days, MEW’s value has skyrocketed by 89%, making it the fastest-rising stock among the top ten assets in its category.
Source: TradingView
At the time of writing, MEW was trading at around $0.0073, with a continued rise of over 3%. Its market cap had grown significantly, to over $649 million.