Coinspeaker
VanEck’s MarketVector Index Tracking Meme Coins Sees 195% Jump

Top financial giant VanEck has recently unveiled its MarketVector Meme Coin Index which will track the most popular category of meme coins. MarketVector’s Meme Coin Index trades under the MEMECOIN symbol, tracking the performance of top siz meme coins.

Of course, the largest holding of this Meme Coin Index includes the top three meme coins: Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). The minor contributors include other meme coins such as Dogwifhat (WIF), Floki Inu (FLOKI), and BONK. Based on the strong performance of all these meme coins, MarketVector’s new index would be up by a staggering 195% on a yearly basis.

When examining the yearly ‘price’ charts of the aforementioned tokens, it becomes evident that these coins experienced remarkable gains. Thus, investors who entered the market at opportune times have minted unprecedented profits within a year.

The total market cap of the entire meme coin sector is $51 billion. Of these, the MarketVector’s new index alone tracks a solid $44.67 billion. If we track the performance of each of these meme coins in the VanEck’s Meme Coin Index, Dogecoin (DOGE) and Shiba Inu (SHIB) have given modest returns of 100%...