Meme-Crypto Wars: Dogecoin and SHIB Prices Falter, Cake Monster Jumps Over 800% in 7 Days
In 2021, meme-based crypto assets skyrocketed in value following the lead of the original meme crypto-asset dogecoin’s massive gains. This week a great number of digital currencies have rebounded in price but a slew of popular meme tokens are not doing so hot this week. However, one specific meme-crypto called “cake monster” has jumped 112% in value during the last 24 hours.
Dogecoin and Shiba Inu Markets Have Seen Better Days
Bitcoin.com has covered a wide variety of meme-based cryptocurrencies that followed the ‘Dogefather’s’ 8,818% one-year gains. Dogecoin (DOGE) has seen a triumphant rise in 2021 thanks to mainstream media coverage and shoutouts from the Tesla CEO Elon Musk.
DOGE has gained 36.5% during the last month, but dogecoin is down 13% over the course of the week. At the time of writing, a single DOGE is swapping for $0.284508 per unit.
DOGE/USD on August 28, 2021.
Another meme-asset that took the crypto world by storm is shiba inu (SHIB) as it has outpaced dogecoin’s gains gathering a whopping 8,750,740% in less than 12 months.
But just like DOGE, SHIB is down 14.8% during the last seven days. SHIB has only gained 16.6% during the last 30 days and at the time of writing a single SHIB exchanges hands for $0.00000721 per token.
SHIB/USD on August 28, 2021.
Cake Monster Performance Outshines All the Meme Token Markets
Those two crypto assets are the largest meme-based cryptos in terms of market capitalization as DOGE has a $37 billion market valuation and SHIB has a ??$3.5 billion capitalization.
The top nine meme-based crypto assets by market capitalization according to Coingecko’s stats on August 28, 2021.
This is followed by monacoin ($129M), hoge finance ($74M), yooshi ($60M), cumrocket ($58M), cake monster ($32M), and dogelon mars ($31M). The crypto-token cake monster (MONSTA) has been the largest gainer out of all the meme assets in terms of gains.
MONSTA/USD on August 28, 2021.
MONSTA has jumped a whopping 844% in seven days and 1,550% over the last two weeks. 30 day stats show cake monster (MONSTA) is up 1,295% during the last month. The Cake Monster team says that the defi protocol is the first to leverage Gravity Vaults.
Cake is deflationary and transaction fees are continuously added to the Gravity Vault. Furthermore, when the Gravity Vault taps 1 million MONSTA, holders can claim their coins from the defi vault. A single MONSTA is swapping for $0.00538036 per unit at press time.
Catecoin, Floki Inu See Double-Digit Gains — Gpunks, Kawakami Inu Tokens Slide
Despite DOGE and SHIB not doing so hot during the last seven days, a myriad of meme assets have seen double-digit gains. Catecoin (CATE) is up 46% this week, floki inu (FLOKI) has gained 42%, hoge finance (HOGE) 42%, and yooshi (YOOSHI) gained 26% this past week.
The biggest meme-coin losers include grumpydogepunks (GPUNKS) down 52% this week and kawakami inu (KAWA) is down 47% over the last seven days.
What do you think about the meme-based asset’s performance this week and cake monster’s 112% 24-hour gains? Let us know what you think about this subject in the comments section below.
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Markets and Prices, 1-week gains, 1-week losses, Cake Monster, crypto assets, DeFi, Doge, dogecoin, Dogecoin (DOGE), dogelon mars, Elon Musk, Gains, hoge finance, Losses, Markets, markets and prices, meme assets, Meme based Cryptos, monacoin, MONSTA, Prices, shib, shiba inu, shiba inu (SHIB), Tokens, YOOSHI
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