As the influence of institutional funds in the cryptocurrency market grows, the market capitalization of Dogecoin (DOGE) and Shiba Inu (SHIB) has fallen to approximately $13.27 billion. This marks the lowest level in the past three years, with a decrease of about 2% this month. In contrast, Bitcoin (BTC) has risen by about 10% during the same period. The combined market capitalization of Dogecoin and Shiba Inu now accounts for just 1.02% of Bitcoin's total market capitalization of $1.3 trillion, hitting an all-time low. In 2021, this ratio was around 7%, but it has drastically decreased since then. This shift indicates that capital flows are moving towards Bitcoin. Following the introduction of the U.S. spot Bitcoin ETF in 2024, institutional investors are entering the market, reallocating funds towards Bitcoin and traditional finance sectors. Currently, the options market suggests that Bitcoin could rise to at least $72,000, and the market is being restructured around Bitcoin. The contraction of meme coins is interpreted as a structural change due to the evolving nature of funds and investment criteria.
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