Interest in “funny coins” on Google has rebounded after several months of low activity, reaching 57 points on a 100-point scale.
This is significantly lower than the peak of 100 points recorded in January amid the excitement surrounding the launch of the TRUMP token. Current data indicates a moderate recovery, suggesting a more sustained interest may be forming.
The rise in search activity contrasts with the reaction on crypto Twitter, noted analysts The Block Brandon Key and Ivan Wu. Influencers and opinion leaders have not returned to promoting memecoins with the enthusiasm seen at the peak in January.
A restrained reaction on social media could be beneficial for the market, experts believe.
Specialists warned participants to remember the significant downturns and project failures following the speculative peak earlier this year.
Meanwhile, the infrastructure around memecoins has become more robust—users have access to various launchpads and trading tools, concluded The Block.
What About the Segment?
At the time of writing, the market capitalization of the sector stands at $71.62 billion. Dogecoin leads with a figure of $32.46 billion.
In February, Canadian company Neptune Digital Assets included Dogecoin in its investment strategy. Dogecoin Cash Inc., previously involved in cannabis cultivation, took a similar step by forming Dogecoin Treasury Inc. to support the development of Dogecoin-related tools and infrastructure.
In July, mining infrastructure company Bit Origin announced it had raised $500 million in investments in Dogecoin.
In September, House of Doge Inc. announced the creation of an official “funny coin” reserve. The total investment in purchasing DOGE will amount to approximately $175 million.
Other memecoins have also attracted companies as reserve assets. Nasdaq-listed Safety Shot became the first public organization to add BONK to its reserves, amounting to $25 million in a funding round.
Earlier in September, California Governor Gavin Newsom announced the launch of the Trump Corruption Coin token.