DOGE and SHIB Lose Top Position in Crypto – TAMA the New King of Coins Meme

Dogecoin and Shiba Inu are the most famous and most traded coins in the world. They were initially launched as a joke, but over time both reached the top 15 cryptos by market capitalization. Elon Musk has played an important role in the growth of meme tokens. He mentioned the two cryptos on his Twitter account, which led to a huge increase in daily trading volumes and value.

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

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SHIB and DOGE lose their first places

SHIB and DOGE are rare tokens that have seen growth over the past week or two. Bitcoin, Ethereum, and many other altcoins are falling, while meme coins are steadily rising. Both meme tokens are still considered suitable investments, but they will likely soon lose their position among the major cryptocurrencies in the markets.

The lack of utility and functionality is slowing the growth of meme coins and threatening to bankrupt both projects. For example, Polkadot is only $600 million behind DOGE in total market capitalization. However, unlike DOGE, Polkadot’s DOT token has much better utility. It is widely accepted as a payment option in many Polkadot projects, and many more are in development. Dogecoin reached the top 10 cryptos after Elon Musk accepted the token as payment for his businesses. It may have worked a few years ago, but not anymore.