It seems that the cryptocurrency market decline continues, with all large and small altcoins except for individual stabelcoins participating in it.
Meme coins have also been hit hard, with the total capitalization of the meme cryptocurrency market falling by a whopping 30% in the last 24 hours.
That figure now stands at around $16 billion. Interestingly, the 24-hour trading volume rose 73% to $4.8 billion. The most popular dog-themed meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), recorded declines of more than 45% over the week.
All the announcements and updates announced by the teams did not stabilize the coins’ rate and did not keep them from a general collapse.
For example, the price of the largest cryptocurrency meme DOGE is down 90% from its all-time high (ATH). Dogecoin now trades at an average price of $0.07, and its price has fallen 15% in the last 24 hours.
The second-largest token-meme Shiba Inu fell 26% in 24 hours and traded at $0.000010, but trading volume increased 36% to $1.6 billion in 24 hours. At this time, the ETH-kit took advantage of the price drop to acquire SHIB for over $2.3 million.