Crypto:
30251
Bitcoin:
$66.142
% 1.15
BTC Dominance:
%54.5
% 0.21
Market Cap:
$2.38 T
% 1.77
Fear & Greed:
74 / 100
Bitcoin:
$ 66.142
BTC Dominance:
% 54.5
Market Cap:
$2.38 T

MarketVector Launches New Memecoin Index

Memecoins

VanEck’s MarketVector has entered the memecoin space with the launch of its new meme coin index, which has seen remarkable growth, up 195% last year. Traded under the symbol MEMECOIN, the index includes the six most prominent meme tokens, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), Floki Inu (FLOKI) and BONK.

MarketVector’s MEMECOIN index reflects the growing popularity and market cap of meme coins, which currently stands at $51 billion, according to CoinGecko, with the index tracking $44.67 billion of that total. Meme coins in particular have gained traction due to low transaction fees on platforms like Solana, allowing users to earn potentially significant returns on small investments.

The memecoin craze even gave rise to a new token category known as PoliFi, with its market cap rising to $586 million due to increased political activity. Notable performers in this category include BODEN, which rose 16% following comments made by former President Donald Trump at a campaign event. Additionally, Trump-themed tokens such as MAGA and TREMP saw notable gains of 28% and 142%, respectively.

As meme coins continue to attract investor attention and market share, MarketVector’s MEMECOIN index offers investors a comprehensive snapshot of this emerging sector that reflects the evolving dynamics in the crypto market landscape.


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