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Inu Corner: Memecoin Roundup (Sept. 23)

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:

Weekly Memecoin performance
Weekly Memecoin Performance

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.
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