WEB3
by BSC News
September 16, 2022
Popular memecoin protocols -- Dogecoin, Shiba Inu, Baby Doge Coin, Floki and Samoyedcoin -- continue to build out their core utilities.
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:
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:
$BabyDogeβs market cap dropped from $145 million to $137 million last week. As always, the deflationary memecoin on BNB Chain continued to expand its ecosystem:
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.
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:
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