Fun

Meme Coin Economy Heals After the FTX Fiasco Swelling by $1.4 Billion in 30 Days

News Feed - 2022-12-10 12:12:50

Meme Coin Economy Heals After the FTX Fiasco Swelling by $1.4 Billion in 30 Days


The meme coin economy has seen its value increase 7.77% against the U.S. dollar during the last month, as the meme token market leader dogecoin jumped 29.4% higher in 30 days. Dogecoin has also managed to move from the ninth-largest market cap position to the eighth-largest crypto market valuation this past month. Shiba inu, on the other hand, dropped from the thirteenth largest market cap to the fourteenth spot. Meme Tokens Gained Over 7% Against the Greenback Over the Past Month


Amid the craziness with FTX and before the bankruptcy filing, meme coins took a hit when the crypto economy experienced significant fluctuations in value. On Nov. 9, two days before FTX filed for Chapter 11 bankruptcy protection, the meme token economy was valued at $18 billion.


Dogecoin (DOGE) suffered a big loss that day dropping 16.5% against the U.S. dollar, according to an archive.org snapshot of coingecko.com stats on Nov. 9, 2022. The second largest meme coin in terms of market capitalization size, shiba inu (SHIB), shed 10.8% in value that day.



The third-largest meme token (at the time), baby doge coin (BABYDOGE), lost 14.2% in value 30 days ago on Nov. 9. The meme coin economy has healed in recent times, as the entire lot of meme token assets listed on coingecko.com is approximately $19.4 billion on Dec. 9, 2022.



This means that the meme coin economy swelled by $1.4 billion during the past 30 days or recorded an increase of 7.77% against the U.S. dollar. DOGE had a good month against the greenback rising 29.4% in 30 days and 7.8% over the last two weeks.


Between Nov. 9 to Dec. 9, dogecoin’s market valuation increased from $11.63 billion to $13.30 billion. Shiba Inu’s (SHIB) price rise during the last 30 days was around 5.9% and over the last two weeks, SHIB increased 0.3%.


Baby doge coin is up 13% over the last month and the current third largest meme coin by market cap, dogelon mars (ELON), grew by 40.2%. The value of the meme token floki (FLOKI) jumped 30.6% this past month and kishu inu (KISHU) gained 8.5% in that time frame.


The list of top ten meme coin economy tokens today includes dogecoin (DOGE), shiba inu (SHIB), dogelon mars (ELON), baby doge coin (BABYDOGE), floki (FLOKI), kishu inu (KISHU), doge killer (LEASH), tamadoge (TAMA), catecoin (CATE), and samoyedcoin (SAMO). Tags in this story Baby Doge Coin, Baby Doge Coin (BABYDOGE), BABYDOGE, catecoin (CATE), Coins, crypto meme coins, Doge, DOGE and SHIB clones, doge killer (LEASH), dogecoin, Dogecoin (DOGE), Dogelon Mars (ELON), floki (FLOKI), HOGE, kishu inu (KISHU), Market Update, Markets, meme, meme assets, Meme Coins, Meme Tokens, Prices, samoyedcoin (SAMO), shib, shiba inu, shiba inu (SHIB), tamadoge (TAMA)


What do you think about the meme coin economy’s market performance over the past 30 days? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Biggest Movers: MATIC, QNT Move Higher on Friday, as Cryptos Rebound MARKET UPDATES | 15 hours ago Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound on Friday, Following Volatile Week of Trading MARKET UPDATES | 19 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRussia’s Interior Ministry Employs Tool to Identify Crypto Wallet Owners, Track Transactions Next articleArgentina Organizes National Blockchain Committee to Implement State Level Strategy Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method

News Feed

Rarible NFT Marketplace Integrates Tezos Blockchain, Will Support Ubisoft Digits
Rarible NFT Marketplace Integrates Tezos Blockchain, Will Support Ubisoft Digits On Wednesday, the non-fungible token (NFT) marketplace Rarible announced that the platform now supp
Digital Transformation Committee Recommends Amended Ukrainian Crypto Law for Adoption
Digital Transformation Committee Recommends Amended Ukrainian Crypto Law for Adoption The law “On Virtual Assets,” Ukraine’s attempt to regulate its growing cr
Marcel Deer14 hours agoHow to buy Bitcoin in DubaiExperience zero tax on crypto trades — find out how to buy Bitcoin in Dubai.2784 Total views39 Total sharesListen to article 0:00How toJoin us on social networksDubai i
Bolt Acquires Wyre for $1.5 Billion, Firm Aims to ‘Decentralize Commerce’
Bolt Acquires Wyre for $1.5 Billion, Firm Aims to "Decentralize Commerce" On Thursday, the payments and checkout and shopper network, Bolt has announced the firm plans to acquire t
Solana Analyst Sees $123 And $116 As Mid-Zone Support Levels – Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Litedex Protocol, the First DEX in Indonesia Supported by Deputy Minister of Trade as a Meta Finance Blockchain Developer, to be listed on LBank
Litedex Protocol, the First DEX in Indonesia Supported by Deputy Minister of Trade as a Meta Finance Blockchain Developer, to be listed on LBank press release PRESS RELEASE. INTERNE
Blur NFT Marketplace Surges in Volume and Market Share, Rivaling Industry Leader Opensea
Blur NFT Marketplace Surges in Volume and Market Share, Rivaling Industry Leader Opensea Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume s
Ditto Promotes Accessible Finance for Streaming Artists with the Launch of Defi Platform
Ditto Promotes Accessible Finance for Streaming Artists with the Launch of Defi Platform Global music distribution service Ditto has unveiled the latest addition
Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem
Este artículo también está disponible en español. Bitcoin’s price rally may be under threat as it continues to trade under$100,000. According to analysts at JPMorga
Crypto Stories: Charlie Shrem tells how he became a Bitcoin millionaire
Tom Blackstone6 hours agoCrypto Stories: Charlie Shrem tells how he became a Bitcoin millionaireShrem made a fortune off his Bitcoin payment service, BitInstant, but then went to prison for alleged money laundering.1787
White House Market Wants to Become the Darknet’s Toughest DNM
White House Market Wants to Become the Darknet’s Toughest DNM White House Market (WHM) is an ultra-secure darknet market (DNM). It disallows Javascript, enforces PGP throughout
Report: The Oldest Bank in America, BNY Mellon Can Now Custody Bitcoin and Ethereum
Report: The Oldest Bank in America, BNY Mellon Can Now Custody Bitcoin and Ethereum America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mel