Despite the market crash since the start of this year, meme currencies are certainly not losing a bit of their popularity. Following the trading pattern of Bitcoin, most of the altcoins are also trapped in the same chart pattern. Even meme tokens had a bearish trading chart, dropping to their lowest point and then beginning to rise.
Following the current rally in BTC, cryptocurrencies have begun to steadily rise from their lowest points. When it comes to meme tokens, DOGE and SHIB are the most popular, attracting the majority of investors. As a result, DOGE and SHIB have been experiencing bearish trading patterns since the beginning of the year, following in the footsteps of BTC. According to CoinMarketCap, the top three meme-tokens by market capitalization are Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (ELON).
ELON As New Rival
Significantly, Dogecoin is considered to be the head of all meme currencies as it was the first meme-token to grab the attention of the entire market. After that, SHIB took the place of DOGE on the show, and it also outperformed the mainstream cryptocurrencies. Dogelon Mars has entered the market as a new rival, with a market capitalization of $452,132,842.
As per the list from CoinMarketCap, Dogecoin is the first token to have a high market cap value among meme-currencies. Then follows Shiba Inu, while Dogelon Mars holds the third position by market cap value. Moreover, the market cap values of DOGE, SHIB, and ELON are $19,722,723,985, $11,944,919,533, and $452,132,842 respectively.
At the time of writing, DOGE was trading for $0.1502, which is 7.05% up for the day. With the 7-day statistics, DOGE has dipped 9.06% and dropped nearly to $0.12 in the past week. On the other hand, SHIB is currently trading at $0.0000221, which is 4.88% up for the day and 20.59% down for the past week. SHIB almost went down to $0.000018 on December 22, 2022, which is the lowest since the start of this year.
Consequently, ELON is currently trading at $0.0000008569, with the token having gained 11.71% in the last 24 hours. Surprisingly, among the meme-currencies, ELON is a new trending token that is presently ranked third in terms of market value. Furthermore, it is expected that these meme tokens will reach a new all-time high value in the next term, along with the beginnings of a bullish run.
