Meme coins are staging a strong rally even as the broader cryptocurrency market trends downward. While the total crypto market cap has declined by 1.8% over the past 24 hours, the meme coin sector has surged by 8.4%, signaling a clear divergence in momentum.
Last week’s announcement from the Federal Reserve—confirming that interest rates will remain unchanged for now—has offered temporary relief to markets, with meme coins leading the charge in bullish sentiment.
The total market capitalization of meme coins has now surpassed $58 billion, accompanied by an impressive $6 billion in 24-hour trading volume.
Among the standout performers in this trend are Dogecoin ($DOGE), Pepe ($PEPE), and Meme Index ($MEMEX), which are currently gaining traction as some of the best meme coins to watch.
Pepe ($PEPE): Crypto’s Biggest Frog Spawned Countless Imitations but Remains Unbeaten
Pepe the frog is a meme based on a character from Max Furie’s webcomic Boy’s Club. Known by his catchphrase “feels good, man” he even appeared as a symbol of rebellion against Chinese intervention in Hong Kong affairs in the 2019 Hong Kong protests.
In April 2023, he hit the blockchain as Pepe ($PEPE) and has since spawned a wave of high-performance imitators like Pepe Coin, or the impressive new AI-integrated Mind of Pepe.
Pepe has since grown to a market cap of well over $3 billion. He’s also been joined by his fellow Boy’s Club character Brett ($BRETT), the thirteenth biggest meme coin on the market with a market cap of $373 million.
Pepe added a modest 1.4% overnight and 19% over the week, meaning that in spite of a three month slump, people are buying back in. It will face stiff resistance at $0.000001
That said, we can see some contrary selling today as evidenced by the fact that Pepe’s relative strength index is 33 and falling. This will help consolidate Pepe’s gains over the next week as the market awaits positive developments around crypto regulation.
Dogecoin: The Original and Most Well-Known Meme Coin
For a cryptocurrency that started life as a parody, Dogecoin ($DOGE) has blown up to become an immovable mountain on the blockchain. With a staggering $28 billion market cap, Dogecoin is single-handedly holding up most of crypto’s $58.3 billion meme coin sector.
The world’s biggest meme coin has been constantly declining along with the rest of the crypto market. Persistent inflation in the US has people shifting to a risk-off outlook. This means that people shed riskier investments, like crypto and stocks, in order to meet the inflation.
So Dogecoin is basically trading at a discount, although people are buying back in. In the last 24 hours, it grew 4.4%.
Over the last three months, we saw a significant drop in resistance (from $0.40 to $0.20) along with a near parallel drop in support (from $0.32 to $0.15), which shows a tale of successive decline.
However, the announcement of steps to regulate crypto will come as a boon to the industry, and Dogecoin will likely always be the most sought-after meme coin. Because of its huge market cap, and various endorsements by fans like Elon Musk, Gene Simmons, and Snoop Dogg, Dogecoin is accepted in many places that accept crypto, including the Tesla merch store.
People will never forget Dogecoin because it spawned a wave of imitators which is ongoing to this day.
You can also buy it on every major exchange, and on payments apps like Revolut and PayPal
This means its ephemeral price woes at the moment should be seen more as an excellent dip-buying opportunity.
Meme Index ($MEMEX): A Smarter Way to Invest in Meme Coins
Meme Index ($MEMEX) provides a diversified approach to investing in meme coins through a community-driven index fund structure.
Instead of speculating on individual meme tokens, investors can distribute their capital across various meme assets categorized by risk level. Additionally, holders of $MEMEX tokens possess governance rights, enabling them to have a say in fund allocations.
What Sets Meme Index Apart:
Four specialized index categories tailored to different risk tolerances
Governance-backed $MEMEX token allowing for community-driven modifications
Successfully raised over $4.2 million in its presale phase
Staking rewards that can yield up to 546% annually
With the meme coin sector surpassing a $50 billion market cap, Meme Index offers a structured and diversified way to tap into this rapidly growing space, optimizing investment potential.
The Four Meme Indexes:
Meme Titan Index – Comprises meme coins with a valuation of $1 billion or higher. A curated selection of the eight most prominent meme coins globally: DOGE, SHIB, PEPE, WIF, BONK, FLOKI, BABYDOGE, BRETT
Moonshot Index – Encompasses tokens with valuations between $250 million and $1 billion. This category features high-potential projects vying for dominance in the meme coin space: POPCAT, PNUT, MOG, MEW, GOAT, NEIRO, SPX, ACT
Midcap Index – Includes tokens within the $50 million to $250 million valuation range. This segment is characterized by extreme volatility: TURBO, BOME, CHILLGUY, SNEK, MEME, GIGA, APU, DOGS
Meme Frenzy Index – Consists of tokens with valuations under $50 million. Designed for high-risk investors seeking speculative plays: ZEREBRO, MOODENG, NPC, CAT, PONKE, FARTCOIN, DOGE, DEGEN
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