Those Meme Coins Left Behind ADA Coin, HBAR and MATIC!

Over the last few weeks, meme coins have risen surprisingly high in the cryptocurrency market. With its rise, the decline of established players such as Cardano (ADA coin) attracted attention. Shiba Inu (SHIB) dethroned Cardano by entering the top 10 in terms of market cap. Thus, it is at the forefront of this change. This event demonstrates the growing popularity of meme coins and the shifting balance of power in the crypto space.

ADA Coin is behind SHIB

The cryptocurrency market is experiencing a meme coin craze again, led by Shiba Inu (SHIB). SHIB’s impressive rise over the last few weeks has managed to knock Cardano (ADA) out of the top 10 most desired places in terms of market cap. This dramatic shift highlights the ongoing power struggle in the crypto landscape. This meme coin craze is not limited to SHIB. Coins like Pepe (PEPE), Dogwifhat (WIF) and others are experiencing similar rises, with some even reaching all-time highs (ATH). This newly gained momentum caused a shakeup in the ranks, leaving established players like Cardano behind.

Cardano, once a top three candidate during the 2020-21 bull run, now ranks 11th and is dwarfed by SHIB’s $16.4 billion market cap. This is in stark contrast to Cardano’s own $16.3 billion valuation and its price, which is more than 80% below its previous ATH. While Bitcoin and other altcoins are showing signs of recovery, Cardano appears to be stuck in neutral, a fate shared with Ripple (XRP).

MATIC and HBAR are also left behind

The story doesn’t end here. Pepe, another meme coin that attracted attention with its rise, knocked Polygon (MATIC) from the 18th place for a short time before experiencing a price correction, as we reported as Kriptokoin.com. Meanwhile, WIF has reclaimed $4 billion in market cap, overtaking Hedera (HBAR) for 28th place. But this bull run appears to be driven by a new generation of meme coins. Unlike the established DOGE and SHIB, these newcomers are less than a year old. Meme coins such as Pepe, WIF, and Book of Meme (BOME) have experienced double-digit gains, demonstrating their remarkable potential.

DOGE and SHIB have seen significant rallies, but their gains appear modest compared to new players or their own track record. The current market trend paints a clear picture: while meme coins are thriving, established players are struggling. Six of the top 10 gainers in the last 24 hours belong to the meme coin category, and weekly charts echo this sentiment.

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