In the first eleven months, the total market value of meme coins has increased more than threefold.
Recently, with Bitcoin breaking the $100,000 mark for the first time, meme coins have also soared. Since Trump was elected as the President of the United States, the entire cryptocurrency market has been stimulated, with the highly regarded Dogecoin reaching a peak price of $0.47, which is an increase of over 400% compared to the beginning of this year.
Represented by Dogecoin and Shiba Inu (SHIB), the cryptocurrency sector accounted for 3.16% of the total market value of all cryptocurrencies on December 1, up from 1.3% at the beginning of the year. Reports indicate that from January 1 to December 1, the total market value of meme coins as an industry grew by 330%. During the same period, the trading volume of meme coins increased by over 950%, with a total market value exceeding approximately $140 billion.
Moreover, while other sectors of the crypto economy experienced declines, meme coins maintained significant trading volumes in June. Analysts suggest that the increase in meme coin market share also highlights the possibility of a speculative bubble appearing more rapidly. While this could amplify the intensity of the bull market, it may also shorten its duration.
