Today’s top meme coins have lost 4.8% in value against the U.S. dollar, as the crypto market carnage has wreaked havoc across the entire digital currency economy. While dogecoin had a phenomenal year in 2021, over the past 12 months, dogecoin lost 82.8% against the USD.
DOGE Tapped an All-Time High a Year Ago Today, Meme Coin Value Is Down 82% Since That Point
Meme coin assets are down this week following the rest of the crypto economy’s downward spiral. Statistics show that dogecoin (DOGE) has shed 14% in value during the past month and 30 day stats show shiba inu (SHIB) is down 24%.
DOGE/USD daily chart on May 8, 2022.
In the last day alone, the $28.3 billion worth of meme tokens lost 4.8% in value. DOGE lost 1.7% over the last seven days and this week SHIB has dropped by 6.8%. DOGE is also down 82.8% from the crypto asset’s all-time high on May 8, 2021, which was exactly a year ago today.
SHIB/USD daily chart on May 8, 2022.
At that time, DOGE reached an ATH of around $0.731 per unit. Six months ago, SHIB tapped an ATH at $0.00008616 per unit and today it’s down 78% since that price point. Both DOGE and SHIB make up most of the $28.3 billion meme token market capitalization by representing 95% with a combined market valuation of around $26.9 billion today.
Google Trends Data Shows Interest in Dogecoin and SHIB Is Low
While most of the meme coin economy has shed significant value in recent times, a relatively unknown meme token called litedoge (LDOGE) has gained 400% this week. Poodl token (POODL) is up 34.2% and dogefi (DOGEFI) is up 27.3% during the past seven days. However, jejudoge (JEJUDOGE) has lost 44.6% this week, lets go brandon (LETSGO) is down 43.3%, and shiba fantom has shed 28.9% in value against the USD.
Google Trends (GT) data on May 8, 2022.
Meme tokens were all the rage last year, but interest seems to be dwindling fast. After hitting a Google Trends (GT) score of 100 last May, this year during the same weekly timeframe, the search phrase “dogecoin” has scored a three. SHIB hit a 100 in October and GT data shows the search term “SHIB” has scored a four this week, according to worldwide statistics.
Tags in this story
Cryptocurrencies, Digital Currencies, Doge, dogecoin, Dogecoin (DOGE), dogefi, Gains, JEJUDOGE, litedoge, Losses, markest, Market Update, Meme Coins, Meme Cryptos, Meme Markets, Meme Tokens, Poodl, Prices, shib, shiba inu, shiba inu (SHIB)
What do you think about the meme coin market carnage and the lack of interest in SHIB and dogecoin these days? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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.