The memecoin sector has led market growth in the past week amid a broad bullish trend.

The GMMEME index, up 3.94%, tracks major memecoins like PEPE (up 11.07%), SHIB (up 2.92%), and DOGE (up 1.71%), which have increased over 90% in November. In comparison, other indices like GM30 and GML1 only increased by an average of 36% during the same period.

In the GMMEME index, PEPE, BONK (up 5.48%) and WIF (up 5.55%) have excelled, with weekly increases of over 70%, 100%, and 32% respectively. This comes after major memecoins like PEPE and WIF were listed on Coinbase and Robinhood, causing their prices to surge due to speculative inflow from a new user group on these platforms.

In the overall memecoin space, including tokens outside the GMMEME index, MOODENG and PNUT (down 6.62%) are also standout tokens, with increases of 47% and 1,500% respectively.

PNUT, a memecoin inspired by the famous squirrel P’Nut, has added $1.68 billion to its value just in the past week after being listed on Binance's spot market and this squirrel has been mentioned and recognized multiple times by Elon Musk on X.

GMMEME Index | Source: The Block

The speed and scale of the listing of these memecoins are unprecedented, signaling a strategic shift for major exchanges and centralized platforms.

This trend may be related to the recent U.S. presidential election, as Donald Trump's victory has reignited optimism about a more crypto-friendly regulatory environment.

Trump's expected tolerance for this industry is in stark contrast to the current administration's restrictive stance and may have encouraged platforms to accelerate the listing of high-demand speculative tokens.

Although memecoins are often criticized for their lack of utility, the current preference of retail investors for them compared to utility tokens is reflected in the trading volume they generate. This makes memecoins not only an important part of the current industry but also a profitable goldmine for exchanges.


Source: https://tapchibitcoin.io/memecoin-tang-vot-khi-cac-dot-niem-yet-moi-tiep-tuc-thuc-day-thi-truong.html