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With seven-digit long liquidations, meme cryptocurrencies are yet again among the worst sufferers of the cryptocurrency market drop. The segment's net valuation might dip below $50 billion while all majors are doing worse than the market benchmark.

The meme cryptocurrency has been a distinguished sector of the crypto space as the assets under it are known to provide rapid movement in a short period. Such a high-momentum rally often attracts speculators, day traders, and short-term investors to keep these assets liquid.

Since its launch in 2013, DOGE has not done much to add value to the ecosystem. However, the token has seen some of the largest returns of any asset over the past decade.

MarketVector, a subsidiary of the United States asset management giant VanEck, has launched a new index based on the highly popular meme tokens. The index, which trades under the ticker symbol MEMECOIN, includes the six largest meme coins: Dogecoin, Shiba Inu, Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI), and Bonk (BONK) tokens.

The cryptocurrency market has gained around $50 billion amid a wider recovery that has seen the price of Bitcoin bounced back after dropping to the $60,000 resistance level to now trade above $63,000, while altcoins including Dogwifhat (WIF) and Toncoin (TON) saw double-digit gains.

Aside from WIF and TON, the other notable gainers from the larger-cap alts include SOL, IMX, and KAS.

Asset manager VanEck has made an entry into the meme coin space with the launch of an index that will track the performance of the foremost meme coins. This is undoubtedly a signifcant development considering the wider adoption these tokens could enjoy as a result of this.

VanEck MEMECOIN index tracks six top meme coins, including Shiba Inu, Dogecoin, Dogwifhat, Bonk, Pepe, and Floki.

The VanEck's MarketVector Meme Coin Index tracks top six meme coins of the respective sector, with an 89% weightage of the entire meme coin sector.

BODEN and TRUMP see significant pumps as the U.S. elections approach.

MarketVector has launched a Meme Coin Index that might make a massive difference for future rallies on the meme coin market. This index comprises popular meme coins like Dogecoin, Shiba Inu, Pepe, dogwifhat, Floki Inu and BONK.

VanEck, a New York-based asset management giant, has launched a new financial index. Dubbed the MarketVector Meme Coin Index (MEMECOIN), this index tracks the largest meme coins.

The index focuses on a diversified selection of memecoins, reflecting the growing importance of these assets in the crypto world.

VanEck's MarketVector introduced the Meme Coin Index, a benchmark tracking market capitalization's six largest meme coins.

VanEck's Market Vector division introduces the MEMECOIN index, tracking the performance of six prominent meme coins with a 30% weighting cap for each token.

Investment giant VanEck, known for its exchange-traded funds (ETFs), has taken a plunge into the world of meme coins with the launch of the MarketVector meme coin index called “MEMECOIN”. What Happened: This index tracks the performance of the six largest meme coins, a category of cryptocurrencies often inspired by internet jokes and cultural references.

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $62,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $3,000 mark this morning.

Crypto trader Intuitio expressed strong conviction in the potential of meme coins, touting the potential of Pepe (CRYPTO: PEPE) and Dogwifhat (CRYPTO: WIF), while dismissing the prospects of Shiba Inu (CRYPTO: SHIB). What Happened: Intuitio took to his X account to state how “easy” the meme coin space is.

The largest meme cryptocurrencies are yet again demonstrating more significant volatility compared to the rest of the cryptocurrency market. Overhyped cryptocurrency Dogwifhat (WIF), a flagship meme coin of the Solana (SOL) ecosystem, is down by over 4.2% in the last 24 hours.

Memecoins have taken the crypto world by storm, with some popular ones delivering remarkable returns recently. This trend suggests that 2024 could be the year of the memcoin. A major advantage of memecoins is their large dedicated community support, which drives interest and engagement.

A widely followed crypto strategist says one Dogecoin (DOGE) challenger is way ahead of its fellow altcoins. Pseudonymous analyst Cred tells his 624,100 followers on the social media platform X that he's bullish on the frog-themed memecoin Pepe (PEPE).

WIF is the only meme coin in the top 100 posting gains amid a broader crypto dip. Other popular meme coins are struggling to maintain momentum.

Here is how some of your favorite assets concluded the week.

The global cryptocurrency market cap remained fairly stable this week, dipping to $2.11 trillion on May 1 and recovering to $2.35 trillion at last check. Here's how some of the top cryptocurrencies traded over the past several days.