DOGE, SHIB, & PEPE Drive VanEck’s Meme Coin Index to Soar 195%: A Crypto Market Rally to Watch

• VanEck’s subsidiary’s meme coin index charts have hit a staggering 195% in a year, highlighting the impressive market performance of popular meme coins such as DOGE, SHIB, PEPE, WIF, FLOKI, and BONK.
• The tokens have witnessed phenomenal annual price gains, sparking investor optimism amidst the current market turbulence.
• The index serves as a market cap-weighted overview of the price performance of these meme coins, offering valuable insights to investors and market participants.

VanEck’s meme coin index soars by 195%, underscoring the remarkable market performance of top meme cryptos DOGE, SHIB, PEPE, WIF, FLOKI, and BONK.

VanEck’s Meme Coin Index Hits 195%

VanEck’s subsidiary’s meme coin index has hit a staggering 195%, underlining the impressive market performance of the top six meme cryptos by market cap. These include DOGE, SHIB, PEPE, WIF, FLOKI, and BONK. The yearly charts for these tokens illustrate significant gains, primarily driving investor optimism amidst the market’s current turbulence.

Unprecedented Performance of Meme Coins

The cryptocurrency sector has witnessed unprecedented performance this year, with meme coins seizing the spotlight. The index, which encompasses the top six meme cryptos by global market cap, serves as a market cap-weighted overview of the price performance of these coins. The data streamlined by this index shows that the yearly charts have hit 195%, underscoring the significant price gains noted by these meme coins over a year.

Meme Coin Index: A Closer Look

VanEck’s subsidiary MarketVecto recently launched a meme coin index, streamlining the performance of six of the largest meme coins in the crypto industry. The index’s component weightings were capped at 30%, including Dogecoin (30.77%), Shiba Inu (28.34%), Pepe (14.51%), dogwifhat (12.54%), Floki Inu (7.14%), and BONK (6.7%). The charts rose as high as 195% when comparing the yearly performance of these tokens, stirring market optimism.

DOGE, SHIB, PEPE & Others Rally

Yearly charts of DOGE, SHIB, PEPE, WIF, FLOKI, and BONK show that the tokens experienced a phenomenal bull run over a year. Dogecoin saw a 102.82% surge in price over the past year, while Shiba Inu witnessed annual gains worth 159%. The third-largest meme crypto by market cap, PEPE, noted an attention-grabbing 338% yearly upswing. The Solana-based meme coin WIF rallied 1,615.28% since its inception in November last year. Floki Inu illustrated a yearly surge of 403.93%, and Bonk (BONK) rose 5,474.23% over the past year.

Conclusion

The remarkable price rallies witnessed by these tokens, as pointed out by VanEck’s subsidiary’s meme coin index, have fueled immense optimism among investors. However, within the highly volatile crypto realm, past performances don’t always guarantee future movements.