- VanEck’s MarketVector, one of the largest asset managers in the US, has tripled its returns with a meme coin index.
- According to information on the MarketVector website, the MarketVector Meme Coin Index has yielded a 195% return over a one-year period.
- The Meme Coin Index is a weighted index reflecting the performance of the six largest meme coins by market value.
VanEck’s MarketVector triples returns with a meme coin index, yielding a 195% return over one year. The index reflects the performance of the six largest meme coins by market value.
MarketVector’s Meme Coin Index Performance
The Meme Coin Index, which closed its last session at 76.67, has shown a significant performance over the past year. The index is weighted according to market value, reflecting the performance of the six largest meme coins. These coins, which are generally released for entertainment purposes, have found a large following and investor base on social media. According to CoinGecko data, meme coins have a total market value of $4 billion.
Major Players in the Meme Coin Index
The Meme Coin Index includes Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), Floki Inu (FLOKI), and BONK. DOGE holds a weight of 30.77% in the fund, followed by SHIB at 28.34%, and PEPE at 14.51%. These coins have been instrumental in driving the index’s performance, attracting a significant amount of investment and attention in the crypto market.
Conclusion
VanEck’s MarketVector has demonstrated the potential of meme coins as an investment strategy with its Meme Coin Index. Despite being generally released for entertainment purposes, these coins have found a large following and investor base on social media, contributing to their market value and performance. With a 195% return over a one-year period, the Meme Coin Index reflects the growing influence and potential of meme coins in the crypto market.
