Has the memecoin lost its popularity? Dogecoin, PEPE, and more!

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In November, the memecoin market started strong, becoming headline news and the focus of public attention. In fact, from November 4 to November 14, the industry's market capitalization surged from $55 billion to $116 billion in just ten days.

Since mid-November, the memecoin market has noticeably shrunk. Dogecoin [DOGE] is the largest and most well-known currency among its peers, and even as Bitcoin [BTC] rose to $108,000, it failed to set new highs.

Therefore, AMBCrypto analyzed the social dominance between these two currencies, as well as the social dominance with Ethereum [ETH], the largest altcoin in the world. Especially since it has also faced its own struggles on the price charts in recent weeks.

On November 13, DOGE's social dominance reached its highest level in nearly 18 months. Since then, it has been on a downward trend, reflecting the acceptance of memecoin market participants.

TOTAL2 mcap emphasizes the total market capitalization excluding Bitcoin. After the recent market sell-off, it has fallen back to levels seen in the last week of November. A recovery may be on the horizon.

Since November 14, the market capitalization of altcoins has increased by 22%. Although its numbers have recently declined.

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