Meme Coin Index Hits Record High Amid New Listings

The GMCI Meme index, tracked by The Block, rose by 8.8% over the week, reaching a new peak of 537.99 points. The surge was driven by the inclusion of Pepe (PEPE) and Dogwifhat (WIF) in the trading tools on Coinbase and Robinhood.

The listings of meme coins are unprecedented and indicate a strategic shift by major platforms, the publication noted.

At the time of writing, PEPE shows a weekly increase of 8.4%, while WIF has turned negative (-4.1%). At one point, positive dynamics reached 70% and 32% respectively.

Another leader was Bonk (BONK) — its growth halved from over 100% to 51.8%.

Peanut the Squirrel (PNUT) also caused a stir. On November 13, the meme coin Peanut the Squirrel (PNUT) quadrupled in value in one day, but over the past seven days, the asset fell by 27%.

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.

Due to Peanut’s media popularity, the news caused a stir on social media and attracted the attention of influencers, including Elon Musk and Donald Trump Jr.

Over the past month, GMCI Meme has risen by 78.2%, outpacing indices in other categories.

Previously, the ELIZA token brought a trader a 1925-fold profit in two hours.

Back in October, the meme coin GOAT surged nearly 2000% in two days. The rise was accompanied by rumors that the project was created by an Andreessen Horowitz-funded AI bot, Truth Terminal.