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Analysis: The MEME coin sector has rebounded nearly 20% in the past month, with the total market capitalization rising to $34 billion.
Deep Tide TechFlow News, April 23, According to DL News reports, CoinMarketCap data shows that the MEME coin sector has increased nearly 20% over the past month, with a total market capitalization rising to $34 billion, but still down about 75% from the peak near $140 billion in December 2024.
Analysts say that this rebound is mainly driven by improved risk appetite, increased on-chain speculation, and the surge of a few leading tokens, and may not fully reflect the overall health of the sector. Dogecoin remains the MEME coin with the highest market value and trading volume, but has fallen 87% from its 2021 high. Additionally, the SEC and CFTC recently proposed five categories of token classification frameworks, categorizing meme coins as collectibles; Canary Capital has also submitted a Pepe ETF application to the SEC.