For the first time in almost a year, there is no meme coin in the crypto top 10. Meme coins have done what can be said to be great so far this year. What started with Elon Musk’s launch of Dogecoin on Twitter has turned into a billion-dollar space. Some who follow Dogecoin have also found a response in the market, such as Shiba Inu and SafeMoon. Detail Cryptokoi.com‘in.
No meme coin is in the top 10
The success of meme coins has inevitably led to some breaking into the top 10 in crypto. After Dogecoin entered the top 10 cryptocurrencies by market cap, the season has opened in meme coins. However, with the recent market downtrend, meme coins are particularly suffering, and following that, the crypto top 10 seems to have been cleared of all meme coins.
Dogecoin is arguably the most popular and valuable of all meme coins. Therefore, a drop for the asset can often represent dark times for the rest of the meme coin space. Dogecoin broke into the top 10 biggest cryptocurrencies by market cap in January after a massive rally following Elon Musk’s continued support for the altcoin. Since then, the meme coin has moved up and down the list. Immediately after Dogecoin’s success came its rival, the Shiba Inu. Created as a “Doge killer” and enjoyed tremendous success, SHIB also continued to rise to new heights, breaking into the top 10 alongside Dogecoin. At one point, it peaked at eighth on the chart, surpassing its predecessor. However, market conditions were not favorable for the coin as it fell out of the top 10 soon after.
By the time the recent market crash subsided, both meme tokens had lost enough to drop the crypto from the top 10. This means that for the first time in almost a year the market hasn’t had a top 10 meme coin.
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