How did our five top memecoin projects -- Dogecoin, Shiba Inu, Baby Doge Coin, Floki, and Samoyedcoin -- fare during a bearish week for crypto?
Weekly Memecoin Performance
Amidst the overall bearish market, some of the top dog-themed memecoin projects improved their utilities for users in the Decentralized Finance (DeFi) space.
Let's take a look at our top five memecoin protocols and examine their progress from Sept. 16 to date:
Dogecoin ($DOGE)
Dogecoin maintained its position as the number one memecoin by market capitalization, which remained unchanged from last week's report at $7.8 billion.
During a week of slowed activity, $DOGE’s social engagement growth rate dropped drastically from 1.02 billion to 576.59 million.
(Project metrics sourced from LunarCrush and TradingView.)
- The price of $DOGE went down by 2.80% in the last seven days. The token is trading at $0.05904 and is up by 0.72% in the last 24 hours.
- The Dogecoin community is gearing up for the upcoming Dogecoin Hackathon: Dogeathon event in Australia beginning Nov. 15.
Shiba Inu ($SHIB)
The Shiba Inu token experienced a significant decline in market capitalization this week, dropping from $6.3 billion to $5.8 billion. However, the protocol continues to expand its ecosystem filled with Non-Fungible Token (NFT), Decentralized Exchange (DEX), metaverse, and GameFi utilities.
Here are the notable highlights from the memecoin project:
- Like its market cap, the price of $SHIB fell by 11.27% in the past week. However, the platform's social engagement rate increased by over 3%, from 342.88 to 353.64.
- $SHIB is currently trading at $0.0000107, with a slight increase of 1% in the last 24 hours.
- The Shiba Inu card game, SHIBA Eternity, went live on Sept. 17 for users based in Australia.
- The game will be available on both Apple Store and Google Play Store.
- Further, the protocol will host a Twitter space to reveal more information about the GameFi product. See the tweet below for more details:
Baby Doge Coin ($BabyDoge)
The market cap of $BabyDoge fell from $137 million to $134 million. The popular memecoin with NFT and DEX utilities made significant progress in its development on BNB Chain:
- The price of $BabyDoge dropped by 4.05% in the last seven days. The token is currently up by 1.64% in the previous 24 hours, valued at 0.000000001174.
- Following the testnet launch of its native DEX, Baby Doge Swap, the memecoin platform announced an Oct. 5 mainnet launch.
- According to the tweet, Baby Doge Swap will go live on mainnet on Oct. 5.
Floki ($Floki)
Floki is always buzzing, particularly with its GameFi product, Valhalla, and the innovative FlokiFi locker solution. Like other memecoins on our list, $FLOKI’s market cap dropped from $76.9 million to $71 million.
- The price of $FLOKI dropped by 1.87% in the last seven days. The memecoin is also down by 2.7% in the last 24 hours, trading at $0.00000771.
- Floki hosted a Twitter space on Sept. 20, covering updates about its PlayToEarn (P2E) game, ecosystem updates, and more.
- The protocol currently is hosting a $1,000 giveaway in FLOKI tokens for users. See details in the Tweet below:
Samoyedcoin ($SAMO)
The market cap of $SAMO dropped from $35 million to $29 million in the past week. The Solana-based memecoin was quiet on the development front in its ecosystem:
- $SAMO was the biggest loser amongst our memecoin projects in this week's round-up, dropping by 18.42% in seven days.
- The $SAMO token is also down by 3.68% and is valued at $0.008178.
- As stated above, there was nothing significant to report other than the most recent Twitter space — The Alpha Dog — being held on Sept. 22.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
A New Solana Memecoin With $19 Million: What is Milady Wif Hat?
Named after the renowned Solana meme coin Dogwifhat (WIF), Milady Wif Hat swiftly reached its maximum funding cap of 88,888 Solana (SOL) within hours of its launch.
Introduction: Milady Wif Hat
Milady Wif Hat, a new meme coin on the Solana network, has made waves by swiftly gathering $19 million in funding during its presale in just two hours. Named after the well-known Solana meme coin Dogwifhat (WIF), Milady Wif Hat garnered a maximum funding of 88,888 Solana (SOL).
🎩 Milady Wif Hat presale is now live! 🚀
— Milady (@miladymemecoin) March 18, 2024
Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now 💗
Wallet address : 4K9tmyjpdu9ogw95JRTZkPkNppw8v1gnuGHBaYir96tt pic.twitter.com/1VdUjilB1E
With Milady Wif Hat, investors could participate with a minimum investment of 1 SOL, capped at 88,888 SOL. The presale, set for a 24-hour duration, saw an overwhelming response, becoming oversubscribed within hours of its launch.
📢 Closure of Milady wif hat presales! 🚀
— Milady (@miladymemecoin) March 18, 2024
Milady Wif Hat presale has soared to its limit of 88,888 SOL and is now closed. 🎉
Any additional Solana raised will have 100% of their funds returned.
Thank you all for the incredible support! 🙌 💖 pic.twitter.com/zEzDGEVlQy
Following the closure of the presale, additional contributions were reportedly returned.
Milady Origins
Milady memecoin's journey began as a decentralized meme token ($LADYS) on the Binance Smart Chain, debuting in 2022. Inspired by the internet meme culture surrounding "Milady" images, which exude grace and elegance, the project aims to infuse humor and lightheartedness into finance.
With a fixed total supply of 1 billion tokens, LADYS employs a deflationary mechanism, burning 10% of the initial supply to enhance scarcity. Furthermore, the tokenomics incorporate a 10% tax on transactions, with 5% redistributed to holders as rewards and the remaining 5% allocated to the liquidity pool, incentivizing long-term holding strategies.
Milady Wif Hat memecoin is the newest addition to the Milady ecosystem.
Challenges Along the Way
Despite its promising trajectory, Milady has faced challenges on its rise. Charlotte Fang, the founder of NFT projects Milady and Remilia, recently confirmed a security breach of treasury addresses, resulting in significant financial losses.
The transfer of ownership of the treasury to the drainer occurred before the suspicious transactions, according to PeckShield experts. Prior to this, in September 2023, Fang reported that the Milady NFT ecosystem developers had stolen about $1 million and hacked its social media accounts.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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