The meme currency economy earns $5.8 billion in less than a month, suggesting that demand for meme tokens is still high

The largest meme currency by market capitalization, dogecoin, has risen 29.5% in the past month, while the second largest meme currency, shiba inu, has jumped 71.9% in 30 days. Since January 9, 2023, the overall value of the meme token economy has increased by $5.8 billion.

Dogecoin and Shiba Inu dominate the meme coin market with 94% market share.

The top meme currencies by market cap have gained in value against the U.S. dollar over the past month. According to statistics recorded on January 9, 2023 the meme coin economy was valued at $16.8 billion 27 days ago. As of February 5, 2023, the meme coin economy is currently valued at $22.6 billion, an increase of 5.4% from the previous day.

Over the past 27 days memes Tokens added $5.8 billion in value and gained over 34% against the greenback. The biggest winners this week among memes Tokens include pomeranian eth (POM), up 117.2%, baby doge coin (BABYDOGE), up 113.9%, and polydoge (POLYDOGE), up 86.7%. The two main currencies memes in terms of market valuation, dogecoin (DOGE) and shiba inu (SHIB), increased from 5.3% to 22.1%, with SHIB recording the largest gains.

Dogecoin (DOGE) and shiba inu (SHIB) account for $21.32 billion, or 94.34% of the $22.6 billion total in the meme currency economy. Dogecoin gained 29.4 percent this month, while shiba inu rose 71.9 percent compared. The majority of the value of the meme coin economy was acquired in 2023. On December 18, 2022, 49 days ago, the market valuation of all tokens memes was $16.4 billion. Since then, the coin economy memes increased by 36.96%.

On February 5, 2023, the biggest winners among the coins memes in the past 24 hours include arbinu (ARBINU), which rose 51.9%, duckereum (DUCKER), up 43.5%, and onigiri neko (ONIGI), which rose 35.3%. The largest meme coin, dogecoin, decreased by 1.7%, while shiba inu gained 1.5%.

The third largest meme currency, baby doge coin, gained 18.9% over the past 24 hours. Despite rising 34% against the U.S. dollar and adding $5.8 billion in value in 27 days, most of the market activity remains focused on the top two coins, DOGE and SHIB, indicating continued demand for meme coin assets.