Meme zone market capitalization exceeds 50 billion USD, DOGE and frogs dominate the market

According to statistics from a certain data platform, the total market capitalization of the Meme token zone has reached 50 billion USD, equivalent to over 300 billion RMB. The daily trading volume in this zone is about 4 billion USD, with liquidity reaching 8%.

This market capitalization has surpassed the liquidity staking zone (47 billion USD) and the NFT market (less than 30 billion USD). It is even higher than the market capitalization of some popular Layer 2 and DePIN tracks (around 20 billion USD).

Meme Tokens Become Investment Hotspots in the 2024 Crypto Market

In May of this year, a report released by a trading platform showed that the Meme zone had an increase of 331% within the year, far exceeding other cryptocurrency asset zones. Compared to traditional venture capital projects, Meme tokens are usually fully circulated upon listing, without subsequent unlock pressure.

In recent years, Meme tokens have become a new way for ordinary investors to make a fortune. For regular users who find it difficult to obtain early investment opportunities in quality projects, Meme tokens may be an investment direction worth paying attention to.

DOGE Dominates the Meme Market, Frog Series Rises

In the top ten of the Meme token market capitalization rankings, there is a pattern of "six dogs, three frogs, and one cat." Among them, the market capitalization of the first-ranked DOGE exceeds $17 billion, accounting for 35% of the entire sector's market capitalization. The second-ranked Shiba Inu (SHIB) has a market capitalization of about $10 billion.

The DOGE series also includes Floki (market capitalization of 1.7 billion USD), Bonk (1.6 billion USD), and WIF (over 2 billion USD). These tokens have all achieved significant growth over the past year.

The Frog series, represented by Pepe, currently ranks third in market capitalization. Other well-known frog-themed Meme tokens include Brett and Bome. These tokens all originate from the works of cartoonist Matt Furie, achieving astonishing market capitalization growth in a short period.

Cat-themed Meme Tokens Perform Flat

In contrast, the performance of cat-themed Meme tokens has been relatively flat. Currently, the best performer is POPCAT, but overall, cat-themed tokens struggle to dominate in the Meme market led by DOGE and frogs.

Matt Furie: The Soul of Frog-themed Memes

The characters created by Matt Furie have become the prototypes for several popular Meme tokens, including Pepe and Brett. In addition, derivative creations based on his works have also given rise to some successful Meme tokens, such as Bome.

Other works by Furie such as Hoppy, Andyd, and Landwolf have also issued corresponding tokens, with market capitalizations ranging from tens of millions to billions. As his latest work, Dark Lord is released in NFT form and may become a new investment hotspot in the future.

As the competition in the Meme sector intensifies, new popular frog-themed Meme tokens may emerge in the future. Investors should closely monitor market trends to seize potential opportunities.