Meme Coin Market Capitalization Surpasses $22 Billion, Dogcoin Remains Market Dominant

Meme Coin is a cryptocurrency that originated as an internet terrier image or joke. Unlike well-known cryptocurrencies such as Bitcoin and Ether, which have specific financial goals or technological designs, Meme coins usually start out as jokes or social experiments. With a market capitalization of over $22 billion, Dogcoin is the earliest Meme coin and is the dominant Meme coin market. Other Meme coins with large market capitalizations include Shiba Inu Coin, Pepe, Bonk, dogwifhat, and FLOKI.Meme coins are usually priced at less than a penny, and some Meme coins are created by people who hold large supplies of tokens. Retail investors and promoters see the tiny price of Meme coins as an opportunity to realize huge returns quickly, despite the lack of traditional fundamentals.Meme coin mania usually occurs after a significant increase in the price of Bitcoin.