Popular memecoin protocols — Dogecoin, Shiba Inu, Baby Doge Coin, Floki and Samoyedcoin — continue to build out their core utilities.
Weekly Memecoin Progress
Memecoin projects continue to build momentum in the industry. After last week’s impressive performance, the dog-themed protocols lost some ground in terms of value. However, there was some progress in developing core utilities and engagement.
Here is an overview of their development from Sept. 9 to Sept. 16:
The number one memecoin by market capitalization, $DOGE, saw its market cap drop from $8.4 billion to $7.8 billion during the past week. Also, its social engagement growth rate dropped to 1.02 billion from 1.28 billion.
The popular dog-themed memecoin did not make any significant moves last week, as it prepares for the maiden Dogecoin Hackathon event:
In contrast with the market cap decline, the $DOGE price increased by 0.25% in the last seven days. The token is currently trading at $0.05993 with a 24-hour price dip of 0.98%.
The memecoin has moved further along with preparations for the Dogecoin Hackathon after partnering with MyDoge Wallet.
- Its partnership with the self-custodian Dogecoin wallet will provide free flights and accommodations to three lucky developers attending the event.
Shiba Inu ($SHIB)
Shiba Inu — a growing powerhouse with a Non-Fungible Token (NFT), Decentralized Exchange (DEX), GameFi and Metaverse utilities — also experienced a decline in market capitalization last week. $SHIB market cap decreased from $7.3 billion to $6.3 billion.
Here are the protocol’s weekly highlights:
$SHIB’s 7-day price fell by 0.19%. As of publication, the price of one $SHIB is valued at $0.00001172 and has dropped by 2.36% in the last 24 hours.
The memecoin added a new landmark to its native metaverse, Shib The Metaverse. Rocket Pond, as the protocol calls it, offers users an adventurous experience in the metaverse.
Most recently, Binance Argentina added $SHIB as a supported token for Binance Cards issued in the country.
The move means users can pay with $SHIB at 90+ merchants worldwide.
Baby Doge Coin ($BabyDoge)
$BabyDoge’s market cap dropped from $145 million to $137 million last week. As always, the deflationary memecoin on BNB Chain continued to expand its ecosystem:
$BabyDoge surged in price in the last seven days, recording an increase of 6.55%. The token is currently trading at $0.00000000119 and is down by 3.19% in the last 24 hours.
The protocol’s social engagement rate also increased from 109 million to 125 million.
On Sept. 10, BabyDoge teased a unique feature for its upcoming 3D NFTs. The memecoin disclosed that users would be able to stake their 2D NFTs and receive 3D versions!
Floki Inu ($Floki)
Like other memecoins, $FLOKI‘s market cap dropped from $86.3 million to $76.9 million. The memecoin social engagement rate also plunged, hitting 76.38 million from over 100 million in the last roundup.
$FLOKI’s price over the last seven days decreased by 1.87%. In the past 24 hours, the token is down by 6.2% and is trading at $0.00000826.
The protocol continued its weekly Valhalla stream, covering core details about its GameFi product on Twitch.
Floki was present at the largest blockchain event in Latin America to introduce its ecosystem to the large crypto community in Brazil.
According to the protocol’s tweet on Sept. 12, the team introduced the Floki project and ecosystem to over 5,000 people.
The market cap of Solana-based memecoin Samoydcoin market cap dropped to $35 million from $41 million. Lets take a look at the project’s highlights from a less-than-ideal week:
$SAMO’s price increased by 3.03% in the last seven days. The token is valued at $0.009803 after dropping by 5.19% in 24 hours.
The memecoin hosted a meme competition on Twitter for users to win $200 worth of $SAMO.
Source : bsc.news
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