Top Meme Tokens Slammed By Crypto Crash; SHIB, DOGE Sink 30%

By Ashish Kumar
May 12, 2022 Updated May 12, 2022
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The Cryptocurrency market crash continues for another day. All the top crypto token prices have cumulatively taken part in the freefall.

Meme coins have also seen little quarter from this crash. Prices have nosedived in the past week. The total meme crypto market capitalisation has dropped by a whopping 30% in the last 24 hours.

Meme token market down by 30%

The total meme cryptocurrency now stands at around $16 Billion. While its 24 hour trading volume has surged by 73% to $4.8 billion. However, the total market capitalization has plunged by a massive 17.3% in the last 24 hours. The cumulative market valuation stands at $1.13 trillion. The largest token Bitcoin (BTC) prices have dropped by 10% in the last 24 hours to trade at the price of $27,600. Ethereum’s (ETH) price is down by over 19% in the last 24 hours. ETH is trading at an average price of $1,851.

BTC prices are trading at a low of 30% in the last 7 days. This huge price crash has directly generated pressure over the altcoins. The top doge themed meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have registered a drop of over 45% in the last 7 days. The recent announcement and updates haven’t saved the project amid this crash.

DOGE down by 90% since its ATH

Charlie Bilello has shared an update that the largest meme cryptocurrency, DOGE’s price has reduced by 90% from its all time high (ATH). That’s the day when Elon Musk made hosted Saturday Night Live promoting Dogecoin. DOGE is trading at an average price of $0.074, at the press time. Its price has nosedived by 31% in the last 24 hours.

The second largest meme crypto Shiba Inu is down by 36.5% in the last 24 hours. SHIB is trading at an average price of $0.000010, at the press time. However, its 24 hour trading volume has jumped by 36% to $1.6 billion. Meanwhile, an ETH whale has taken the opportunity to buy the dip. It has added over $2.3 million worth of Shib tokens.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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