The meme coin economy is currently worth $14.8 billion, and 25 meme tokens contain the term “doge” in their names. 18 of the tokens have “Shiba ” while 30 crypto meme coins have “dog” in their names.
Dogecoin (DOGE), the oldest and largest meme crypto currency in terms of market valuation, is still a major player in the world of cryptocurrencies. DOGE is the tenth most valuable cryptocurrency by market capitalization, valued at $8.24 billion. Dogecoin’s market cap is 53% of the total meme token economy’s $14.8 billion.
Shiba Inu (SHIB) is the second most valuable meme token, having a market cap of $6.18 billion. SHIB’s market cap constitutes 42% of the entire meme coin ecosystem, and it is ranked 14 out of 21,082 crypto assets. The two meme cryptocurrencies, DOGE and SHIB, own 95% of the $14.9 billion valuation in crypto meme coins.
Dogelon Mars (ELON) is the third largest meme coin asset, but its market cap is substantially lower at $144.3 million.Five months ago, the meme coin economy was doing significantly better, with a market cap of $33.7 billion. The meme coin economy is now worth $14.8 billion, having lost 55% of its value since then.
MicroStrategy Inc., the largest corporate buyer of Bitcoin, made the smallest purchase in more than two years after the company’s co-founder stepped down as CEO last month to focus on the company’s digital-asset strategy.
The commercial software provider paid almost $6 million for 301 Bitcoins at an average price of approximately $19,851, according to a US Securities and Exchange Commission filing Tuesday. The purchases were made with excess cash. With Bitcoin trading at less than $19,000, the total purchase is already underwater.
MicroStrategy and its subsidiaries controlled roughly 130,000 bitcoins as of September 19, for a total purchase price of around $3.98 billion and an average purchase price of approximately $30,639 per token.MicroStrategy’s aggregate holdings have dropped in value by about $1.5 billion, or around 38%, since it first started buying the cryptocurrency.
Bitcoin was trading down 1.14% at $18,918 at press time.
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