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 beneath 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 full meme coin market cap of $51 billion, in keeping with CoinGecko. Whereas they unashamedly symbolize the lighter facet of the cryptocurrency market, some commentators consider that meme cash might proceed to indicate spectacular returns as a consequence of low charges on Solana permitting merchants to make small bets for doubtlessly giant income.
