Weekly Memecoin Progress

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:

Dogecoin ($DOGE)

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:

• In contrast with the market cap decline, the $DOGE price increased by 0.25% in the last seven days. The token is currently trading at $0.05993 with a 24-hour price dip of 0.98%.
• The memecoin has moved further along with preparations for the Dogecoin Hackathon after partnering with MyDoge Wallet.

• Its partnership with the self-custodian Dogecoin wallet will provide free flights and accommodations to three lucky developers attending the event.

Shiba Inu ($SHIB)

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:

• $SHIB's 7-day price fell by 0.19%. As of publication, the price of one $SHIB is valued at $0.00001172 and has dropped by 2.36% in the last 24 hours.
• The memecoin added a new landmark to its native metaverse, Shib The Metaverse. Rocket Pond, as the protocol calls it, offers users an adventurous experience in the metaverse.

• Most recently, Binance Argentina added $SHIB as a supported token for Binance Cards issued in the country.

• The move means users can pay with $SHIB at 90+ merchants worldwide.

Baby Doge Coin ($BabyDoge)

$BabyDoge’s market cap dropped from $145 million to $137 million last week. As always, the deflationary memecoin on BNB Chain continued to expand its ecosystem:

• $BabyDoge surged in price in the last seven days, recording an increase of 6.55%. The token is currently trading at $0.00000000119 and is down by 3.19% in the last 24 hours.
• The protocol's social engagement rate also increased from 109 million to 125 million.
• On Sept. 10, BabyDoge teased a unique feature for its upcoming 3D NFTs. The memecoin disclosed that users would be able to stake their 2D NFTs and receive 3D versions!

• Its native DEX, BabyDogeSwap, is already gaining massive traction as many platforms are securing partnerships to offer farming options to their users.

Floki Inu ($Floki)

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.

• $FLOKI’s price over the last seven days decreased by 1.87%. In the past 24 hours, the token is down by 6.2% and is trading at $0.00000826.
• The protocol continued its weekly Valhalla stream, covering core details about its GameFi product on Twitch.
• Floki was present at the largest blockchain event in Latin America to introduce its ecosystem to the large crypto community in Brazil.
• According to the protocol's tweet on Sept. 12, the team introduced the Floki project and ecosystem to over 5,000 people.

• The memecoin plans to list on several exchanges, including Binance. As seen in the tweet below, Floki urges users to sign a petition to list on the leading Centralized Exchange.

Samoyedcoin ($SAMO)

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:

• $SAMO’s price increased by 3.03% in the last seven days. The token is valued at $0.009803 after dropping by 5.19% in 24 hours.
• The memecoin hosted a meme competition on Twitter for users to win $200 worth of $SAMO.