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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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The meme sector breaks through a market capitalization of 50 billion dollars, with shitcoin and frog coin dominating the landscape.
Meme market capitalization exceeds 50 billion USD, shitcoin and frog coin lead the way.
According to statistics from the data platform, the market capitalization of the Meme sector has reached $50 billion, equivalent to approximately over 300 billion RMB. The daily trading volume of this sector reaches $4 billion, with liquidity at 8%.
This figure exceeds the market capitalization of the liquid staking sector at $47 billion and is far greater than the total market capitalization of the NFT market, which is less than $30 billion. Even the highly regarded Layer 2 and Depin sectors have a market capitalization of only over $20 billion.
In May of this year, a report released by a certain trading platform pointed out that the Meme sector has seen an increase of 331% this year, far exceeding other sectors. Compared to traditional projects, Meme coins are fully circulating upon listing, eliminating concerns about subsequent unlocking issues.
In recent years, Meme coins have become a new way for ordinary users to make a comeback and get rich. For ordinary investors who find it difficult to obtain low-priced shares of quality projects, studying Meme coins might be a better option.
In the top ten list of Meme market capitalization, dog-themed coins occupy six seats, frog-themed coins occupy three seats, and cat-themed coins only have one seat. The number one is Dogecoin, with a market capitalization of over 17 billion USD, accounting for 35% of the total market capitalization of the sector.
Among the dog-themed coins, in addition to the well-known Dogecoin and Shiba Inu, there are emerging tokens like Floki, Bonk, and WIF. Most of these tokens are related to social media trends or public figures, demonstrating strong market influence.
In contrast, cat-themed Meme coins have performed relatively poorly. Currently, the best performer is POPCAT, but its market capitalization is still far below that of shitcoins.
The frog-themed Meme coin has recently risen, with Pepe as its representative. Pepe originates from the works of cartoonist Matt Furie and carries rich cultural connotations and political symbolism. Frog-themed tokens like Brett and Bome have also quickly emerged, with their market capitalization entering the top ten of the Meme sector.
It is worth noting that other characters created by Matt Furie, such as Hoppy, Andyd, and Landwolf, have also been issued tokens with impressive market capitalization performance. His latest work, Dark Lord, has been released in NFT form and may become the next hot topic.
As competition in the Meme track becomes increasingly intense, new blockbuster tokens may emerge at any time. While investors focus on opportunities, they should also carefully assess the risks.