Memecoins undoubtedly capture a big slice of crypto observers’ attention — even if not everyone is a fan. But data shows they’re gobbling up a growing amount of the crypto economy too.
The sector — powered by the likes of dogecoin (DOGE) and Shiba Inu (SHIB) — made up 3.16% of the combined market capitalization of all cryptocurrencies on Dec. 1, up from 1.3% at the beginning of the year, according to a new report from crypto exchange CEX.IO. If you exclude crypto titans bitcoin (BTC) and ether (ETH), memecoin market share jumps to 11.21% from 4.2%.
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Author: Tom Carreras
