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 Buys the Smallest Amount of BTC
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.