DOGE And SHIB Losing Their Top Crypto Position- TAMA New King of Meme Coins

DOGE And SHIB Losing Their Top Crypto Position- TAMA New King of Meme Coins

Dogecoin and Shiba Inu are the world’s most famous and traded meme coins. They were initially launched as a joke, but over time, both reached the top 15 cryptos by market capitalization. Elon Musk played a significant role in the meme token growth. He mentioned both cryptos on his Twitter account, which resulted in a considerable increase in daily trade volumes and value.

Dogecoin is currently ranked 10th, while Shiba Inu is the 12th highest-ranking crypto on the markets. They held their spots for a long time, but both tokens will lose their top spots shortly due to a lack of utility and a rising new meme coin project called Tamadoge. 

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SHIB and DOGE Losing Their Top Positions

SHIB and DOGE are rare tokens that have experienced growth in the past week or two. Bitcoin, Ethereum, and many other altcoins are on the down, while meme coins are growing steadily. Both meme tokens are still considered suitable investments, but they will likely lose their positions among the top cryptocurrencies on the markets soon.

The lack of utility and features slows down meme coin growth and threatens to put both projects out of business. For example, Polkadot is only 600 million dollars behind DOGE in total market cap. However, unlike DOGE, Polkadot’s token DOT has much better utility. It’s widely accepted as a payment option across numerous Polkadot projects, and many others are in development. Dogecoin reached the top 10 cryptos after Elon Musk accepted the token as payment for his companies. That may have worked a few years ago, but not anymore.

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