The Meme Coin Index was released by MarketVector, a VanEck subsidiary. It is a new way to track the market value of the six greatest meme coins.
This index, called MEMECOIN, caps the weights of each coin at 30% to make sure there is diversity, and it is reviewed every month to make sure it stays useful.
By setting this limit, the index hopes to keep any one coin from having too much of an effect on its success.The MEMECOIN index is a useful tool for both large and tiny individual investors because it gives them information about the new and volatile meme coin market.
MEMECOIN for Institutional Entry, Retail Insight
It gives institutional buyers a structured way to get into this volatile market by showing them a list of its most important assets, so they don’t have to invest directly in individual coins. Meanwhile, small buyers can use the index to compare how well their favorite meme coins are doing and how much of the market they have.
Head of Digital Assets Research at VanEck, Matthew Sigel, was excited about the index’s ability to capture the spirit of the crypto space, describing memes the “new alpha.”
As of the most recent data, Dogecoin (DOGE) is at the top of the ranking with a weighting of 30.77%, showing how well-established it is. Shiba Inu (SHIB) is close behind, with a weighting of 28.34%. Floki Inu (FLOKI) at 7.14%, Pepe (PEPE) at 14.51%, Dogwifhat (WIF) at 12.54%, and BONK at 6.7% are all new to the index.
The meme coin index has gone up by over 202% in the last year, even though it has had a small drop recently. This shows the speculative excitement and rapid growth in this unique part of the crypto market.
