A look at the performance of our top five memecoin projects — Dogecoin, Shiba Inu, Baby Doge Coin, Floki, and Samoyedcoin.
Weekly Memecoin Update
Welcome to our analysis on the top five dog-themed memecoin projects. These protocols continue to make progress across the Decentralized Finance (DeFi) space.
Despite lackluster crypto market conditions, the dog-themed protocols performed well over the past seven days.
Dogecoin ($DOGE)
Dogecoin maintained its top ranking in market capitalization. The $DOGE token is first in the memecoin ecosystem, with a market cap of $8.7 billion, rising from last week’s value of $8.06 billion.
(Price data from Sept. 30 to Oct. 5 obtained from CoinMarketCap and Lunarcrush.)
The token is up 8.84% in the last seven days, trading at $0.0655 and 0.59% higher in the last 24 hours.
With “Dogefather” Elon Musk now seeking to complete his acquisition of Twitter, $DOGE may be one to watch in the coming months.
Could Elon Musk’s Twitter push spark positive price action for $DOGE? Time will tell.
Meanwhile, The Dogecoin Hackathon is around the corner. The maiden event will be held in Australia on Nov. 15.
Shiba Inu ($SHIB)
$SHIB market cap grew slightly from $6.25 billion to $6.29 billion. Shiba Inu continued to improve its ecosystem with utilities to engage users. Its GameFi product, Shib Eternity, generated hype among most Shib enthusiasts in the space.
$SHIB price increased by 4.62% in the last seven days. The token is trading at $0.00001147 down 0.84% in the last 24 hours.
After much anticipation, Shiba Inu launched Shib Eternity on October 6. The complex collectible card game features numerous Non-Fungible Tokens (NFT) and other features, as seen in the tweet below:
Shib Eternity is available on Android and IOS for interested players.
According to the lead developer Shytoshi Kusama, 5% of profits generated from the game will be used to burn $SHIB tokens, increasing scarcity and potentially boosting its value.
$SHIB price could benefit from interest in the game and the upcoming burn feature. Inu Corner will keep you updated with the protocol’s price movement and progress in the memecoin space.
Baby Doge Coin ($BabyDoge)
$BabyDoge is the biggest gainer this week after an impressive run. The memecoin’s market cap rose from $137 million to $153 million. The mainnet launch of its native Decentralized Exchange (DEX), BabyDogeSwap, is the highlight of the protocol’s bullish week.
$BabyDoge increased by 19.89% in the past wee and down by 3.40% at $0.000000001328 in the last 24 hours.
The token’s price pump ensued following news of the highly anticipated BabyDogeSwap mainnet launch.
BSC News tested the BabyDogeSwap Testnet version last month, and the team working to rectify minor bugs reported by the community.
After a successful Testnet, Baby Doge Swap officially launched on Oct. 6.
$BabyDoge holders will are charged lower swap fees for holding the token.
Can BabyDogeSwap challenge PancakeSwap as the leading DEX on BNB Chain?
Floki ($FLOKI)
$FLOKI‘s market cap increased from $72 million to $75 million. Like other top memecoin projects with utilities, Floki has been making progress in the industry, particularly with its innovative FlokiFi locker and $FLOKI staking pool on the DODO exchange.
$FLOKI price gained 2.62% last week. The token is trading at $0.00000797 down by 1.38% in the last 24 hours.
Floki announced a partnership with DODO Exchange on Sept. 30 to deliver $FLOKI staking to users on both BNB Chain and Ethereum.
Since launch, over $2 million worth of $FLOKI tokens have been staked in the $FLOKI pool on DODO Exchange.
BSC News published a write-up on how to stake $FLOKI and earn rewards on the exchange.
Check the protocol’s weekly newsletter below for an overview of their recent developments across the DeFi space:
Samoyedcoin ($SAMO)
$SAMO‘s market cap dropped again from $28 million to $27 million. The protocol is still the number one memecoin on Solana by market capitalization.
$SAMO dropped by 3.66% in the past week. The token currently trades at $0.007561 down by 0.45% in the last 24 hours.
As mentioned last week, the memecoin has an association with the BetDEX launch on Monaco protocol, to help the community’s new product development.
The BetDEX Open Beta is live, taking Samoyedcoin a step further toward launching the products in its timeline.
Source : bsc.news
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