- VanEck's MarketVector presents MEMECOIN, monitoring one of the best meme cash with a 137.96% YTD return.
- MEMECOIN makes use of a cap-weighted strategy to steadiness danger, with Dogecoin and Shiba Inu dominating.
- VanEck emphasizes the speculative and unstable nature of meme currencies and warns that they need to solely be used for leisure, not funding.
MarketVector, a subsidiary of VanEck, launched the Meme Coin Index (MEMECOIN). This index tracks the efficiency of six main meme cash, together with Dogecoin, Shiba Inu, Pepe, dogwifhat, Floki Inu, and BONK. In response to Wu Blockchain's X publish, this index has returned a formidable 137.96% YTD, making it one of the best performing index on MarketVector.
The MEMECOIN index is a market capitalization weighted index, with weight capped at 30% for every coin. This technique goals to diversify dangers throughout the index. Dogecoin and Shiba Inu dominate the index with weights of 30.64% and 28.01%, respectively. Cash comparable to BONK (6.21%), Pepe (14.18%), dogwifhat (13.29%) and Floki Inu (7.17%) are additionally included within the index.
VanEck issued a disclaimer stressing that meme cash are for enjoyable, whatever the success of the index. This highlights how speculative and unstable these property are and advises traders to do their analysis.
The newest replace exhibits that Dogecoin's 24-hour buying and selling quantity is $1.134 billion, its market cap is $21.263 billion, and its present value is $0.47442. With a present value of $0.000023 and a 24-hour buying and selling quantity of $397,857,784, Shiba Inu has a market cap of $13.479 billion. Pepe is buying and selling at $0.000008 with a market cap of $3.521 billion and a 24-hour buying and selling quantity of $732.127 million.
Moreover, dogwifhat is presently buying and selling at $2.92 with a 24-hour buying and selling quantity of $410.185 million and a market cap of $2.912 billion. With a market cap of $1.677 billion and a buying and selling quantity of $158.038 million per day, Floki Inu is presently buying and selling at $0.000176. With a market cap of $1.547 billion and a 24-hour buying and selling quantity of $186.114 million, Bonk is presently buying and selling at $0.000024.
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