After the cryptocurrency market fell, the Meme token economy was hit hard, and the market value of DOGE and SHIB lost billions of dollars – market and price bitcoin news

Since the initial downturn after 12:00 AM Eastern Time on December 4, the global cryptocurrency market valuation has rebounded sharply. On Sunday, the crypto economy fell 1.4% in the past 24 hours. At the same time, the market value of today’s meme token is 47.2 billion USD, a 12.6% drop on the last day. Dogecoin has suffered a serious loss of 19.2% in the past 7 days, while its competitor Shiba Inu dropped 9.7% last week.

Meme token economy bears the brunt of the crypto market massacre — Dogecoin fell 19% in a week

At the time of writing, the cryptocurrency memetic token market economy is worth 47.2 billion U.S. dollars and was severely hit in yesterday’s market massacre. Dogecoin (DOGE) It is the largest meme token market value, at 21.5 billion U.S. dollars, because the transaction price of each DOGE is 0.164 U.S. dollars or 0.00000342 Bitcoin Per unit. DOGE fell by 37.7% last month, but Dogecoin is still up 4,863% year-to-date. On Sunday, December 5, there were 1.4 billion US dollars in the world dog Trading with Binance is the most active Dogecoin exchange.

After the cryptocurrency market fell, the Meme token economy was hit hard, and the market value of DOGE and SHIB lost billions of dollars
DOGE/USD on December 5, 2021.

Today, the stablecoin tether (USDT) Command most of Dogecoin’s transaction as USDT Captured 75.79% of the DOGE pairs on Sunday. Followed by the U.S. dollar (10.69%), BUSD (5.03%), Bitcoin (3.96%) and the Euro (2.05%). This weekend Turkish Lira (TRY) accounted for 1.2% of all Dogecoin (DOGE) pairs.

In addition to Binance, other active Dogecoin exchanges on Sunday include Huobi Pro, Huobi Korea, Okex, Bittrex, and Kraken. Enter block statistics It shows that only 55% of DOGE holders make money at current prices. The concentration of large holders today is 60%. In the past 7 days, the transaction volume of Dogecoin has exceeded 100,000 U.S. dollars, and the transaction volume is 20.33 billion U.S. dollars.

Shiba Inu fell 9% this week, down 59% from the historical high of crypto assets

The second largest crypto memetic asset is Shiba Inu (SHIB) The loss this week is much smaller than DOGE. SHIB fell 9.7% this week and has fallen 27.6% in the past 30 days. But the year-to-date increase is completely different, because SHIB’s increase is as high as 56,175,642%.

After the cryptocurrency market fell, the Meme token economy was hit hard, and the market value of DOGE and SHIB lost billions of dollars
SHIB /USDT December 5, 2021.

SHIB However, it is still down 59.5% from the historical high of $0.00008616 of crypto assets on October 28. SHIB is the 13th largest crypto asset by market capitalization, today at $19.6 billion. At the time of writing, the global SHIB transaction volume is US$2.3 billion.

Similar to DOGE, the trading platform Binance is SHIB The most active exchange on Sunday. Binance’s SHIB market is closely followed by trading volumes from Huobi Pro, Okex and Coinbase. Tether (USDT) Is the top trading pair of SHIB, accounting for 41.9% of SHIB trading pairs. Followed by USD (23.51%), BUSD (19.63%), TRY (9.88%) and WETH (2.41%).

58% of SHIB holders are still profitable, and today the concentration of large holders is 78%. Statistics from Into the Block show that transactions of more than $100,000 in the past 7 days totaled approximately $4.93 billion worth of SHIB.

Donkey, Meta Doge, and Kitty Coin saw double-digit 7-day gains, Catbonk and Fantom Doge suffered major losses

Since DOGE and SHIB have lost some value in the past week, many other memetic tokens have also lost their previous earnings. Last week, dogelon mars (ELON) fell 19.3%, while baby doge coin (BABYDOGE) fell 21.3% last week.

However, DONK, METADOGE and KITTY have seen double-digit gains in the past 7 days. The biggest meme token losers last week were catbonk (CABO), which fell 67% and fantom dog (RIP), which fell 59%.

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What do you think of the meme token economy losing more than 12% in the past 24 hours and the weekly loss of Dogecoin and Shiba Inu? Please tell us your thoughts on this topic in the comments section below.

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