The later memes have increasingly impressive growth rates
While the largest meme in the current market, $DOGE, took over 4 years to reach its first $1B market cap, later memes have grown much faster:
- $WIF took 81 days
- $GOAT took 37 days
- $BRETT took 28 days
- $PEPE took 19 days
- $PNUT peaked in just 11 days
These memes share common traits such as: having a unique culture within their community, and they will grow very quickly if supported by influential figures (e.g., Elon Musk with $DOGE,...)
Moreover, they receive quick support from major exchanges, such as Binance and Kucoin listing Pepe in May 2023 which caused a surge, or like $SHIB back in May 2021
For investors, these are high-risk - high-return tokens, requiring deep understanding of market dynamics and often - emotional investing.
The rapid pumps of DOGE, SHIB, WIF, PEPE, PNUT, POPCAT, and MEW to multi-billion dollar valuations have caused the intersection of culture and finance on web3 to develop very quickly. And it has attracted many newcomers to the market
=> The market is slowly approaching the middle of a bull run, it's going to get crazy soon!
