Meme coins like Shiba Inu, Dogecoin Bottom of Domination

Over the past few days, the cryptocurrency market witnessed a sharp decline. Meme coins like Shiba Inu and Dogecoin have dropped by double digits and the trend continues. The market capitalization of all meme coins is down 1% from yesterday, reaching $49 billion at the time of writing. At the same time, CryptoQuant data shows that over the past 60 days, the coin's dominance has plummeted.

Assets such as the Shiba Inu are down 5.2% in the past 24 hours. At the time of writing, Shiba Inu is trading at $0.00001799 while Dogecoin is priced at $0.1246 after a 2.9% Bottom. dogwifat [WIF] saw a 22% drop over the past week. Most assets in the meme coin market suffered a similar fate.