Meme Coin Index Hits All-Time High Thanks to New Listings

memecoins

The GMCI Meme index, tracked by The Block, surged by 8.8% over the past week, reaching a new all-time high of 537.99 points. The primary drivers behind this growth were the listings of Pepe (PEPE) and Dogwifhat (WIF) on Coinbase and Robinhood.

These unprecedented listings of meme coins signal a shift in the strategies of major platforms, as highlighted by the publication.

At the time of writing, PEPE has shown a weekly increase of 8.4%, while WIF has experienced a decrease of 4.1%. At their peaks, the positive dynamics reached 70% and 32%, respectively.

Another standout performer was Bonk (BONK), with its growth halved, from over 100% to 51.8%.

Additionally, Peanut the Squirrel (PNUT) garnered attention. On November 13, PNUT saw a fourfold increase in value in just one day, though it dropped 27% over the past week.

The mascot of PNUT was a squirrel named Peanut, who lived with its owner in New York. On October 30, authorities seized the animal, and later euthanized it.

The media popularity of Peanut sparked a stir on social media and attracted attention from influencers like Elon Musk and Donald Trump Jr..

Over the past month, the GMCI Meme index has risen by 78.2%, outperforming other category indices.

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Earlier, the ELIZA token generated a 1925x profit for a trader in just two hours.

It’s also worth mentioning that in October, the GOAT meme coin surged nearly 2000% in just two days, with the rise accompanied by rumors that the project was created by Truth Terminal, an AI bot funded by Andreessen Horowitz.