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Memecoin craze dethroned Cardano (ADA)!
The rise in memecoin over the past few weeks has caused Shiba Inu #Cardano to fall out of the top 10 crypto rankings by market cap.
The Memecoin craze has come to the fore over the past few weeks, with #Pepe , #Shiba Inu, #Dogwifhat , and other memecoins reaching all-time highs (ATHs). Many of these memecoins have surpassed many major coins. Cardano, which ranked third in terms of market capitalization during the 2020-2021 bull season, currently ranks 11th behind SHIB. Shiba Inu currently has a market cap of $16.4 billion, while Cardano's market cap is $16.3 billion.
Cardano is trading at $0.45, more than 80 percent below its all-time high of $3.10. At a time when Bitcoin and other altcoins have recouped most of their losses in the last cycle and some are making new highs, Cardano appears to be stuck in a tight range, similar to #Ripple (XRP).
In addition to SHIB, ATH doing Pepe commandeered the #18 spot of Polygon (MATIC). However, after the correction in the PEPE price, memecoin fell back to 19th place. Another popular and new memecoin, WIF, replaced Hedera (HBAR) at the 28th position with a market cap of $4 billion.
Dogecoin and Shiba Inu are currently among the top 10 cryptocurrencies. Memecoins such as DOGE and SHIB showed themselves frequently in the 2021 bull rally. Nowadays, memecoins, which are still very new, are also having a very good rise season. PEPE, WIF and BOME are examples of these memecoins.
