Shiba

Pepe Coin

Shiba Inu

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 <p>Meme coins have held a significant position within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency landscape. From the OG <a rel="noopener noreferrer nofollow" title="Dogecoin" href="https://thebittimes.com/tag/dogecoin.html">Dogecoin</a> [DOGE] to Shiba Inu [SHIB] and Pepe Coin [PEPE], these assets have gained widespread recognition. Nonetheless, the once flourishing meme coin market has faced a setback as its overall value experienced a decline. <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of data indicates a substantial decrease in the meme coin market’s value, with a loss exceeding $3 billion since the onset of 2023.</p>
 <p><a rel="noopener noreferrer nofollow" title="Dogecoin" href="https://thebittimes.com/tag/dogecoin.html">Dogecoin</a>, Shiba Inu, and PEPE have been dominating the meme coin sector for the longest time, but now appear to be crashing. The notable decline can be primarily attributed to the reduced market capitalization of these leading meme coins.</p>
 <h5 class="wp-block-heading" id="h-leading-the-decline-dogecoin-and-shiba-inu">Leading the decline: Dogecoin and Shiba Inu</h5>
 <p><a rel="noopener noreferrer nofollow" title="Dogecoin" href="https://thebittimes.com/tag/dogecoin.html">Dogecoin</a> also holds the position of the tenth-largest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency in terms of overall market capitalization. At the beginning of 2023, DOGE boasted a market cap of $10.83 billion. However, its current market capitalization has dwindled to $8.47 billion, marking a significant reduction. DOGE maintains its dominance in the meme token sector, contributing 61.09% to its overall value. Over the past week, DOGE witnessed a 2.8% decline, and a month-long <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> shows a 4.4% decrease.</p>
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 <p>Meanwhile, Shiba Inu experienced a 2.9% drop in value during the past week, and over the course of the month, it incurred a 5.4% decrease. As of Oct. 15, Shiba Inu’s market cap stands at $4.17 billion, a decrease from the $5.34 billion value at the beginning of the year. Remarkably, SHIB constitutes 30% of the $13.7 billion meme token ecosystem.</p>
 <p><strong>Also Read: Shiba Inu: A $,1000 Investment Turns to $6.66 Million in October 2023</strong></p>
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 <h5 class="wp-block-heading" id="h-can-pepe-emerge-as-the-meme-coin-market-s-saving-grace">Can PEPE emerge as the meme coin market’s saving grace?</h5>
 <p>PEPE is one of the notorious meme coins that has experienced a series of fluctuations in its path since its creation. At one point, it even surpassed the $1 billion mark in market capitalization but then rapidly lost value. Nevertheless, the situation has taken a positive turn as a significant bullish signal has favored PEPE. According to LunarCrush’s data, the meme coin’s Galaxy Score ranked second only to Bitcoin [BTC], indicating the potential for a forthcoming bullish rally for the meme coin.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="688" src="https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp" alt class="wp-image-116018" srcset="https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 1024w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 300w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 768w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 1536w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 380w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 550w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 800w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 1160w, https://cdn.thebittimes.com/images/2023/10/17/cff7a5c576d21114d40b5b0b9471467d.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: Pepe Coin Investor Who Made $1.67 Million in Profit, Buys Again</strong></p>
 <p>At press time, PEPE was trading at $0.00000068091 with a 1.6% weekly surge. The daily volume of the meme coin currently stands at $36 million. In addition, the market cap of PEPE was noted to be at $285,610,177.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>Dogecoin</li>
  <li>pepe</li>
  <li>shib</li>
  <li>shiba inu</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/why-dogecoin-shiba-inu-pepe-are-crashing-in-2023-explained-tbt66746.html">https://thebittimes.com/why-dogecoin-shiba-inu-pepe-are-crashing-in-2023-explained-tbt66746.html</a></p>

Why Dogecoin, Shiba Inu & Pepe Are Crashing in 2023? Explained

TheBitTimes

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