The meme coin sector has become the leader in growth over the past week amid the overall bullish sentiment of the crypto market, according to The Block. The GMCI Meme Index, which tracks the prices of leading meme coins such as Shiba Inu ($SHIB ) and Dogecoin ($DOGE ), rose by more than 90% in November. In comparison, other indices like GM30 (top-30 cryptocurrencies by market capitalization) and GML1 (prices of coins from leading level 1 blockchains) grew on average by only 36% during the same period.

The GMCI Meme Index contains information about the largest meme coins by market capitalization. The asset selection process includes a requirement for a minimum monthly trading volume. This ensures sufficient liquidity necessary for the smooth operation of the index, as stated in its description. Over the past week, among all cryptocurrencies included in the GMCI Meme, the best performers were $BONK , PEPE, and WIF, which increased by approximately 100%, 70%, and 32% respectively. Meme coins began to rise sharply in price after the addition of PEPE, followed by other tokens on the Coinbase and Robinhood platforms.