VanEck subsidiary MarketVector has began an index based mostly on the efficiency of the highest six meme cash. The MarketVector’s Meme Coin Index, which trades underneath the image MEMECOIN, is up 195% on a yearly foundation. For comparability, the CD20 is up 97% throughout the identical interval. MEMECOIN tracks Dogecoin, Shiba Inu, Pepe, dogwifhat, Floki Inu and BONK, which account for practically $47 billion of the entire meme coin market cap of $51 billion, in line with CoinGecko. Whereas they unashamedly signify the lighter facet of the cryptocurrency market, some commentators imagine that meme cash might proceed to indicate spectacular returns as a result of low charges on Solana permitting merchants to make small bets for probably giant earnings.
