The craze over meme coins has persisted for a long time now. And in social media, meme coins are gaining more awareness, as we've seen many more almost worthless tokens increasing greatly in value over the weekend. Expert market observers have said that the pump in meme coin prices is retail driven.
It has been a surprise to many as the overall value of meme coins have exceeded $70 billion, within a relatively short time.
Crypto educators who have been studying crypto for more than 10 years, have mentioned that this is the craziest bull run that the crypto industry has ever seen. Because at the moment, trading crypto using fundamental analysis, isn't working as it used to.
The total market cap of meme coins has just exceeded 70 billion$. With meme coins like WIF - dogwifhat seeing massive increase in its market capitalization to about 4.4 billion$; which surpasses Cronos and Arbitrum.
Meme coin such as Dogecoin has experienced 3x the market capitalization of Chainlink. You can see Shiba Inu experiencing 2x the market cap of Polygon. These are indications that at the moment, crypto assets with utility and fundamentals aren't performing as greatly as meme coins.