Crypto's institutional influx has killed the memecoin craze
The crypto market continues to mature with growing institutional participation, and memecoins are paying the price. The combined market capitalization of DOGE$0.06956 and shiba inu (SHIB), the two largest memecoins by value, has fallen to $13.27 billion, the lowest in three years and down about 2% this month alone, even though market leader bitcoin BTC$65,071.10 has risen by 10%.