Bitpanda has formed a new partnership with MarketVector Indexes and has launched the new Meme Coin Leaders Index, to help investors diversify their crypto-wallets. To start, the index will contain top memecoins such as PEPE, FLOKI, WIF, BONK, DOGE, and SHIB.
Bitpanda and the new Meme Coin Leaders Index: the tool to diversify your crypto-wallet
The famous European crypto broker, Bitpanda, has announced the launch of its new Meme Coin Leaders Index, with the aim of helping investors diversify their crypto portfolios.
Meme coins have become a staple of our industry, mixing light-hearted fun with explosive growth potential.
With the Bitpanda Meme Coin Leaders Index, you can now gain exposure to the top meme coins around, in the same care-free rebalancing package you know and love.
BCIMEME… pic.twitter.com/d0b2CU2fzC
— Bitpanda (@Bitpanda_global) May 13, 2024
“Meme coins have become a staple in our industry, as they combine carefree fun with explosive growth potential. With the Bitpanda Meme Coin Leaders Index, it is now possible to get exposure to the best meme coins in circulation, with the same worry-free rebalancing package you know and love. BCIMEME includes: @dogecoin, @pepe, @RealFlokiInu, @Shibtoken, @dogwifcoin and @bonk_inu”
Basically, through the Meme Coin Leaders Index (BCI MEME), instead of choosing individual cryptocurrencies, users can invest in all included cryptos with just one click.
The BCI MEME was created with the support of MarketVector Indexes, and extends the wide range of Bitpanda Crypto Index (BCI).
Currently, the new Meme Coin Leaders Index (BCI MEME) will contain the top six memecoins by market capitalization. These are: Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, Dogwifhat (WIF), FLOKI, and BONK.
Every month, when the market changes, the Index automatically adjusts the portfolio composition in a process called “rebalancing”.
Bitpanda and its Meme Coin Leaders Index for investors who love fun cryptocurrencies
The new Meme Coin Leaders Index by Bitpanda aims to consider and highlight the category of fun cryptocurrencies.
In this regard, Eric Demuth, co-founder and CEO of Bitpanda, commented as follows:
“Our range of Index products has just become larger on Bitpanda! Meme coins are a huge part of cryptocurrency culture and the demand from our users to have an easy way to invest in them has been huge. We listened and delivered. For all investors who love cryptocurrencies, dogs, and memes – such an index, much wow”.
The BCI Meme Coin Leaders index will be part of the popular BCI range from Bitpanda, originally launched in 2020 as the first true range of cryptocurrency indices.
In fact, the BCI 5/10/25 are already available, which track the top 5, 10, and 25 cryptocurrencies by market capitalization, and specialized indices that give investors access to DeFi, Infrastructure, Smart Contracts, and Media & Entertainment.
The BCI Meme Coin Leaders Index is the latest way Bitpanda makes investing in cryptocurrencies safe and easy.
Memecoin in red over the last seven days
Looking at the price trend of the crypto category “memecoin”, it seems that in the last seven days, there has been a noticeable red dump.
And indeed, starting from DOGE, the meme crypto with the largest market cap at $20.6 billion, the price has dropped by 11% in the last week.
Even WIF, FLOKI, and BONK are in a price dump in the last seven days of 10-16%. The price dump of SHIB and PEPE, on the other hand, is milder and therefore below 10%.
This general price decline has been justified as a change in interest by crypto traders who, at the moment, seem to be more focused on more established assets like Bitcoin and Ethereum.
