The crypto meme token market economy, valued at $47.2 million at the time of writing, has suffered a severe hit from yesterday’s market chaos. Dogecoin (DOGE) has the largest market cap at $21.5 billion. Each DOGE trades for $0.164, or 0.00000342 Bitcoin per unit. DOGE has fallen 37.7% in the past month but dogecoin has risen 4,863% over the same period. Sunday, December 5th, there was $1.4 billion in global DOGE trades. Binance is the most active dogecoin trading platform.
The stablecoin tether ( USDT), commands the majority of dogecoin’s trades today. USDT captures 75.79% Sunday’s DOGE pairs. The USD (10.69%) is followed by BUSD (5.03%), Bitcoin (3.96%) and EUR (2.05%). This weekend, 1.2% of all DOGE pairs are held by the Turkish lira (TRY).
Binance is not the only active dogecoin exchange on Sunday. Huobi Pro and Okex are also available. Bittrex and Kraken are also available. The Block stats show only 55% DOGE holders making money at the current price. Today’s concentration of large holders is 60%. In the past seven days, there were $20.33 billion in transactions worth more than $100K in DOGEcoin.
Shiba Inu Drops 9% This Week, 59% Below the Crypto Asset’s All Time High
Shiba Inu (SHIB), is the second-largest cryptocurrency meme asset. This week, SHIB has lost much more than DOGE. SHIB has fallen 9.7% and 27.6% in the last 30 days. However, year-to-date gains are quite different as SHIB has risen a staggering 56,175,642%.
SHIB remains at 59.5% below the crypto asset’s record $0.0000861616 on October 28. SHIB, which has a market capital of $19.6 billion, is currently the 13th largest cryptocurrency asset. Global SHIB trade volume is currently $2.3 billion at the time of writing.
Similar to DOGE’s trading platform, Binance is SHIB’s most popular exchange on Sunday. Volumes from Huobi Pro and Okex are closely following Binance’s SHIB market. With 41.9% of all SHIB trading pairs, Tether ( USDT) ranks as the top trading pair. The USD (23.51%), BUSD (19.63%) and TRY (9.88%) follow.
58% of SHIB owners are still in profit, and 78% of large holders are currently in profit. According to Into the Block statistics, transactions exceeding $100K in the past seven days have generated approximately $4.93 billion of SHIB.
Kitty Coin, Meta Doge and Donkey See Double-Digit 7 Day Gains, Catbonk, and Fantom Doe Reduce Significant Losses
DOGE and SHIB have lost some value over the past week. Many other meme tokens also experienced losses. Dogelon mars (ELON), which lost 19.3%, and baby doge coin(BABYDOGE), dropped by 21.3% over the past week.
However, meta doge (METADOGE), donkey (DONK) and kitty coins (KITTY have all seen double-digit gains in the past seven days. Catbonk (CABO), which lost 67%, and fantom doge (RIP) who shed 59% were the biggest meme token losers this week.