Will the Meme Community Get More Love this Valentine’s Week?

• The crypto meme community economy has increased by $5.8 billion.
• The meme coin market economy has shown a growth rate of 36.96% 
• Baby Doge Coin experienced a huge growth rate at the start of the love month

Over the past 30 days, the meme coin market has skyrocketed its growth rate. This week’s meme market star is Shiba Inu, with 22.24%, and Elon Musk’s favorite memecoin Dogecoin, with 6.05%, up from the past week. In less than 30 days, meme coins gained $5.8 billion in trading, with more than 34% profits. From Dec 18, 2022, to Feb 5, 2023, the meme coin market economy has shown a growth rate of 36.96% against the US dollar price.

The crypto meme community proved they were not just funny memecoin but also leading crypto start-up companies. Since the start of 2023, the total value of the meme economy has increased by $5.8 billion. Currently trading at $22.6 billion 5.4% increase from the past 24 hours.

The dog-themed meme token Shiba Inu (SHIB) has outperformed other top cryptocurrencies in this new year. According to CoinMarketCap, Shiba Inu is trading at $0.0000144  at press time, up by $23.96% in the past seven days. At the start of 2023, SHIB experienced a nearly 40% growth rate.

Dogecoin, the strongest player in the meme community, has risen to 29.4% at the end of Jan. According to CoinMarketCap, Dogecoin (DOGE) is trading at $0.094 (at press time), up by 7.42% from the past week. Recently, Forex Suggest found a foreign exchange data aggregator that revealed a report that Dogecoin is the third-fastest growing digital asset at lowering its carbon emissions by 25% in the last year.

According to data from Santiment, the crypto market research firm tweeted, “Dogecoin has broken out with major whale transactions today, easily the highest of the year, going along with address activity spiking.”

The little one is now a giant one-Baby Doge Coin

Surprisingly another dog-themed meme coin Baby Doge Coin (BABYDOGE), experienced a huge growth rate at the start of the love month. According to CoinMarketCap, BABYDOGE is trading at $0.0000000029, up by $101.01% from last week.

The sudden surge in BABYDOGE is due to the announcement made by the firm on Feb 2 that it will burn $682 trillion tokens worth $1,091,200. Earlier in July, Twitter CEO Elon Musk tweeted about BABYDOGE, which helped the token to raise its price. In his tweet, he replaced the lyrics of “Baby Shark” with “Baby Doge.”

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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