- DOGE, PEPE and BONK are among the top gainers in the meme category as the sector rallies.
- Swedish investment firm Valour launched the first-ever DOGE ETP as altcoin ETF speculation in the US grows.
- Binance co-founder Changpeng Zhao suggested that the crypto market needs to move from meme coins to building actual products.
The meme coin sector rallied on Wednesday as top tokens, including Dogecoin (DOGE), PEPE and BONK, led the charge. With growing anticipation of a DOGE ETF in the US next year, industry experts weighed in on the future of investing in meme coins.
DOGE, PEPE, BONK among top meme coin gainers today
The meme sector has witnessed heavy attention in the past few weeks, rising to become one of the best-performing sector since the US presidential election.
In the past 24 hours alone, the meme category witnessed a rise of over 4%, with top tokens, including DOGE, PEPE and BONK, leading the rally.
PEPE currently leads the rally with double-digit gains of 10% in the past 24 hours. PEPE has seen remarkable growth following Donald Trump's victory in the presidential election.
The token received quick recognition from several exchanges, including Robinhood and Coinbase, leading to sharp gains and a new all-time high.
Coinbase announced earlier on Wednesday that PEPE is now available to its users in New York. This propelled the token's surge above 13% before a slight correction.
Likewise, Dogecoin (DOGE) has seen impressive gains, rallying over 6% in the past after recent developments.
DOGE experienced a huge milestone after Swedish investment firm Valour launched the first-ever DOGE exchange-traded product (ETP) on Tuesday. This marks the first time a meme coin will be traded through an ETP.
BONK also posted gains of 6% in the past 24 hours. Additionally, more meme coins are being listed by exchanges, suggesting they are gaining more demand among traders and investors.
However, a few Key Opinion Leaders (KOLs) weighed in on the recent bullish momentum among meme tokens.
These top voices highlighted the growing trend among memes, suggesting that the crypto industry may need to shift investments from this class of tokens.
Binance co-founder Changpeng Zhao sparked the conversations after a post he made on X, suggesting that meme coins are "getting a little weird now."
I am not against memes, but meme coins are getting "a little" weird now.
— CZ BNB (@cz_binance) November 26, 2024
Let's build real applications using blockchain.
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