Elon Musk-backed Dogecoin leads the $30 billion meme-coin market

Dogecoin, which shocked many after attaining a market capitalization of over $50 billion equaling with Barclays Bank, is still maintaining its position as a pilot to many other meme coins which together have a market capitalization of over $31 billion according to CoinMarketCap data.

With a market valuation of over $26 billion, DOGE holds a whopping 84% of the meme coins market cap share. Most of this feat was attained since April, prior to which Dogecoin had only $15 billion in market capitalization. There are a variety of reasons why Doge may not be your ordinary joke coin.

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