The #memecoin frenzy has become a significant trend in the #crypto community, with $PEPE and $WIF entering the top 20 cryptocurrencies by market capitalization within a year of their launch.
#Memecoins have also gained substantial traction in the crypto leverage market, where traders take long or short positions on their prices. Notably, four out of the top 10 cryptocurrencies by open interest are memecoins, led by $PEPE with $812.6 million in OI, nearly half of Solana’s $1.7 billion.
