Meme Coin Industry Sees Significant Growth

According to CryptoPotato, the meme coin industry has seen significant growth, led by Dogecoin (DOGE) and Shiba Inu (SHIB). Newer tokens like Dogwifhat (WIF) and Pepe (PEPE) are also gaining traction due to strong community support. Analysts are optimistic about the potential of this sector, especially in the wake of the Bitcoin halving, which has historically triggered market volatility.

The meme coin industry made significant progress during the last bull cycle, with its market cap briefly exceeding $60 billion. This growth is largely due to popular assets like DOGE and SHIB, which continue to trend among investors. Newer tokens are also gaining popularity, including WIF, Bonk Inu (BONK), and PEPE. Currently, DOGE and SHIB account for more than 60% of the industry's market cap, and they are the only meme coins worth over $10 billion.

WIF and PEPE are some of the meme coins that have gained a solid supporter base. The Dogwifhat community recently raised $650,000 to put the token's logo on the Sphere, a famous entertainment arena in Las Vegas, Nevada. The token has also received support from prominent industry participants such as Arthur Hayes.

A study a few months ago estimated that Shiba Inu had the strongest community base among meme coins, with DOGE and PEPE rounding out the top three. The frog-themed digital asset currently has a market cap of over $3 billion, making it a significant contender among the majors.#DOGE🔥🔥 #PEPE❤️ #SHIB🔥🔥 $PEPE $DOGE $SHIB