Meme coins are having the dream bull run this year with WIF, PEPE, and DOGE coins leading the bullish uptrend
Meme coins gained massively this year accumulating an average return of 1,312.6% through market capitalization. This profit generated by meme coins is 4.6 times more than the tokenized real-world asset.
The coins have also outperformed centralized exchange tokens such as DePIN and AI. This shows a remarkable rise of investor interest in meme coins evident through transaction volumes and a growing crypto community user base.
Meme coins Dwarfs Other Exchange Tokens
These coins have earned massive popularity amongst crypto users. The coins WIF, PEPE, and DOGE at the same time have contributed greatly to the growth of the meme coins community. Several meme coins have surged ahead as compared to different exchange tokens.
PEPE registered a spike in social volume despite facing tough competition from its peers. This has further solidified PEPE’s relevance amongst crypto traders.
Meanwhile, other meme coins like TRUMP and BODEN are also receiving good attention on social media. They might pose a risk to WIF and DOGE’s market share in the near future.
Is Meme Coin’s Popularity a Social Fluke?
According to the Santiment analytic platform’s recent data, meme coins have a downside movement. Its data shows a decreasing social volume in WIF and DOGE. The decline, however, was in the past month.
A pearl of common wisdom in the crypto market is that “Fallen popularity equals lower token price”.
If this decline continues, WIF and DOGE may lose their price gain in the future.
More Growth In Meme Coin?
The Data from the Santiment analytic platform showcases growth in PEPE, DOGE, and WIF.
PEPE has further stood out accumulated an impressive growth of 14.98% in recent weeks. Following this, bullish uptrend of PEPE, new investors are showing more interest in PEPE meme coin.
DOGE also performed positively with a 3% surge, indicating an increase in DOGE’s transaction velocity and more frequent trading. WIF follows closely with a similar uptick in transaction volume but records show it has marginally declined by 10%.
The continuous rise of Meme Coins feels like music to crypto investors. New investors, and crypto enthusiasts on the other hand need to tread carefully before investing as crypto markets are not new to highs and lows. One should do one’s own research before investing.
Also Read: Pepe Meme Coin Trader Turns $3k into $46M in one month
