How MarketVector’s Memecoin Index surged over 137% in 2024, outperforming the S&P 500 as top memecoins continue their rise.
The MarketVector Meme Coin Index surged over 137% since the beginning of 2024 as the top memecoins continue to rise.
MarketVector’s memecoin index has outperformed the S&P 500 index by over 15x in 2024. In contrast, the S&P only saw a 9.3% price appreciation year-to-date , The memecoin index is up over 137% year-to-date and 186% over the past year, trading at $76.60 as of 8:52 am UTC.MarketVector, a subsidiary of the United States asset management giant VanEck, launched its memecoin index on Oct. 31, 2021.
Looking at the memecoin fund’s individual components, Pepe was the biggest gainer, rising 482% YTD, followed by Floki, up 372%, and Shiba Inu, up 112%, taking third place. Bonk was the worst performer, up over 59% YTD, but still beating the returns of the S&P 500 by over sixfold.Memecoins often deliver exponential returns, even compared to some of the top cryptocurrencies.
Trading volume is often used to gauge sentiment around memecoins. Weekly memecoin trading volume has been declining since early March across all blockchains,
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