Dogecoin’s Market Cap Is $2B Larger Than Coinbase’s. Is The Rise Of Meme Cryptos Like Big Eyes Coin Now?

In December 2022, Coinbase, the American cryptocurrency exchange platform, was valued at a lesser market capitalization than meme currency Dogecoin (DOGE).  While for many, this did not come as a great surprise (considering Dogecoin at the time ranked as the 8th leading cryptocurrency), it does signal that the crypto market is heading in a new direction.

For a long time, meme currencies were viewed as insignificant players within the crypto economy. However, with Dogecoin possessing a market capitalization of almost $10 billion, 2023 will likely see meme tokens such as Big Eyes Coin (BIG) become powerful participants in the market.

How Did We Get Here?

Cryptocurrencies have, for now, been the outsider in the world’s financial economy. Many established institutions and governments even have cast a cautious and skeptical eye on digital currency for its lack of regulation and decentralization. For this reason, it has garnered a reputation from more traditional experts as not being ‘serious.’

Yet, even within the crypto market, some tokens are regarded as more legitimate than tokens that are not.

Meme currencies have been the underdog of the crypto sphere due to their initial lack of value. But with Dogecoin overtaking Coinbase in market capitalization, it is clear that things are about to change this New Year.

The Rocky Rise Of Dogecoin

Dogecoin was started as a joke to criticize major established cryptocurrencies like Bitcoin for being too stuffy. However, unintentionally Dogecoin found itself becoming one of the most famous cryptos of all time, if not the most well-known one.

The growing pains have been obvious, and Dogecoin has not been without its controversies, but it has remained a leading meme coin. And its popularity is only a sign of more to come.

What Does Dogecoin’s Rise Mean For Other Meme Cryptos Like Big Eyes Coin?

Clearly, the continued prominence of Dogecoin’s position in the crypto market will only have a knock-on effect on other meme currencies. The second most well-known meme token, Shiba Inu, is not far behind Dogecoin in market capitalization. In the future, it is likely, many more meme tokens will establish themselves in the leaderboard.

Because meme coins are seen as the ‘people’s currency’, a token like Big Eyes Coin, which speaks to people’s worries and concerns about the environment, is already resonating with both crypto enthusiasts and crypto newbies and could see mass adoption if it continues its success.

Meme currencies like BIG have a way of appealing to the emotion of a fan, either through a cute cat figure that wants to save the oceans or through the community in events like competitions and quizzes. As more and more people grow concerned with the effect we have on our environment, the potential meme currencies have to change the world grows stronger.

This is perhaps why Big Eyes Coin has seen it garner about $12 million in presales despite the crypto market experiencing bear conditions.

So, What now?

Both Dogecoin and Big Eyes Coin have understood that if they want to encourage the mass adoption of cryptocurrencies, they can’t just simply be a currency. They must be a community, a form of entertainment, an education, and a charity. They must be everything and more to compete with traditional finance.


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