Dogs vs. cats rivalry take memecoins to $54 billion market cap

• The memecoin market cap has declined in the last 24 hours.
• These assets have seen double-digit increases despite the market cap decline.

This week, memecoins have experienced notable fluctuations in value, despite a decrease in market capitalization over the last 24 hours.

Over the past seven days, several memecoins have enjoyed value surges, with the ongoing rivalry between dog and cat-themed memecoins drawing particular interest.

Memecoins market cap declines

According to data from CoinGecko, there has been a more than 6% decrease in the last 24 hours, bringing the market cap to $54.6 billion. 

The analysis highlighted that the two leading assets, Dogecoin [DOGE]

This figure represented more than half of the entire memecoin market’s value, underscoring the significant dominance of these two cryptocurrencies within this playful yet volatile segment of the digital currency market.

How dog-themed memecoins have fared

AMBCrypto’s analysis of the memecoin market showed that Dogecoin maintained its lead with a market capitalization of over $19.4 billion. Over the past week, Dogecoin’s value has increased by more than 10%.

At press time, it was trading at approximately $0.13 despite experiencing a slight downturn of over 2% in the last 24 hours.

Meanwhile, the standout performer in the dog-themed memecoin category has been dogwifhat [WIF], which has seen a remarkable 20% increase in value over the last seven days.

However, like Dogecoin, dogwifhat also experienced a decline in the last 24 hours, currently trading at around $2.61 with a decrease of over 3%.

Source: TradingView

How cat-themed memecoins have trended

Popcat [POPCAT] led the cat-themed memecoin sector at press time, with its market capitalization surpassing $774 million. It had a solid start to the week, marked by double-digit surges, but the momentum has waned.

Over the last seven days, Popcat has seen a 1.8% decline in value. At press time, it was trading at around $0.79, experiencing a significant drop of over 8% in the last 24 hours.

Meanwhile, cat in a dogs world [MEW] has emerged as the standout performer among cat-themed assets.

In the last seven days, MEW’s value has skyrocketed by an impressive 89%, making it the highest gainer among the top ten assets in its category.

Source: TradingView

At the time of writing, MEW was trading at approximately $0.0073, with an ongoing increase of over 3%. Its market capitalization had grown significantly, at over $649 million.