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Dogecoin and Shiba Inu still hold nearly half of meme‑coin market cap, with analysts citing technical buy signals and a potential 4½‑year accumulation phase.
Dogecoin remains the benchmark for meme tokens, accounting for almost 50 % of the sector’s market capitalization as of July 26 2024, while Shiba Inu’s recent price strength reinforces the “OG culture” narrative among legacy meme coins【1】.
| At a glance | |
|---|---|
| Market share | ~50 % of meme‑coin market cap |
| DOGE price move | Near‑flat, but technical buy signals on multiple timeframes |
| SHIB price move | Recent strength noted by analysts |
| Catalyst | Analyst commentary on rotation to established meme coins and technical alignment |
Commentator David Gokhshtein warned that investors are tiring of chasing newly launched meme tokens that often collapse shortly after launch, suggesting capital may rotate back to projects with longer histories and larger communities【1】. He highlighted that Dogecoin and Shiba Inu together still represent nearly half of the meme‑coin market cap, positioning Dogecoin as the de‑facto standard against which new memes are measured. Gokhshtein’s view implies that unless a new token can “flip DOGE,” the two legacy coins will continue to dominate sector sentiment.
Technical analyst Ali Martinez observed that the TD Sequential indicator generated simultaneous buy signals on the monthly, weekly, three‑day, and daily charts for Dogecoin, a rare multi‑timeframe alignment that could precede a price breakout【1】. Complementing this, market commentator “Cantonese Cat” described Dogecoin’s 18‑month decline as an extended accumulation period rather than a distribution phase, noting that most pullbacks occurred on light volume while the price stayed within the prior cycle’s range【1】. The commentator estimates this could represent about 4.5 years of accumulation before the next major trend emerges.
While some analysts see upside potential, others remain cautious. A prominent crypto analyst identified meme coins as a higher‑risk category, emphasizing that many such tokens fail and can damage crypto’s broader reputation through hype‑driven speculation【1】. This perspective underscores the split view within the community: legacy meme coins like DOGE and SHIB may benefit from a “return of OG culture,” but the sector as a whole remains vulnerable to speculative excess.
Dogecoin’s circulating supply and Shiba Inu’s market‑cap figures were not detailed in the available sources, but their combined share of the meme‑coin market cap underscores their outsized influence relative to newer entrants.
The dominance of Dogecoin and Shiba Inu highlights a market where legacy meme tokens set the performance bar, but the sector’s future hinges on whether new projects can overcome entrenched investor bias and deliver sustainable value beyond short‑term hype.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Aug 2, 2026 · How we report
As of the provided reports, Shiba Inu has a circulating supply of approximately 589 trillion tokens. The project has already burned more than 40% of its initial 1 quadrillion token supply to reduce the total amount in circulation.
Some bullish investors and team members, such as Lucie, have expressed belief in a $0.01 price target for Shiba Inu. However, critics note that this would require a market cap of nearly $5.9 trillion and a massive reduction in the circulating supply to approximately 85 billion tokens.
Shiba Inu is limited by the speed restrictions of the Ethereum blockchain and processes transactions at a slower rate than newer proof-of-stake networks like Solana and Cardano. These newer blockchains are currently attracting developers away from the Ethereum ecosystem.
Shiba Inu utilizes a burn portal on its Shibarium Layer-2 protocol to remove tokens from circulation. Despite these efforts, analysts suggest that reducing the supply to a level that could support a $0.01 price could take more than a million years at the current rate.