A market analysis conducted by crypto analytics platform CoinMarketCap revealed that the memes sector was the most active sector of 2023 in terms of new listings. This sector started the year with just 36 meme tokens and saw more than 260 new tokens listed since then.
CoinMarketCap took to Twitter earlier today to share its Crypto Market Analysis for the first half of 2023:
#CMCResearch: #Crypto Market Analysis H1 2023 🔎
— CoinMarketCap (@CoinMarketCap) July 21, 2023
The #Memes sector added over 260 new coins YTD, marking it the most active sector in terms of new listings.#AI & Big Data is No.2 and added 61 coins, whereas #DeFi is ranked No.3, with 47 new listings YTD. pic.twitter.com/tOH8jGFc36
According to the crypto market analysis, the memes sector grew by a whopping 625% since the beginning of 2023. The new listings included hyped-up meme tokens like the frog-themed PEPE token, the Wall Street Bets token (WSB), and the Milady Meme Coin (LADYS), among dozens of others.
PEPE debuted in April this year at a mere $0.000000060 but reached an all-time high of $0.0000037 in less than a month. The massive rally took the meme token’s market capitalization to as high as $1.72 billion on May 5, 2023. However, PEPE’s price action has been in a ranging pattern since its all-time high in May. At the time of writing, PEPE was trading at $0.0000014, with a market capitalization of $586 million and a 24-hour trading volume of $69 million.
The Miladys Meme Coin went live last month at $0.0000000008. Within a week of its debut, the meme token soared to an all-time high of $0.00000015, with its market capitalization skyrocketing to $114 million. LADYS’ price fell soon after the ATH, and at the time of writing was trading at $0.00000003098,
SNEK was another meme token that was launched in May 2023. The token went from its debut price of $0.00013 to an all-time high of $0.0014, marking a growth of 976%. At the time of writing, SNEK was trading at $0.00039 with a market capitalization of $27.6 million.
Artificial Intelligence (AI) and Big Data emerged as the second most active sector in terms of token listings, with 61 new tokens listed in 2023. This sector was followed by decentralized finance (DeFi), which saw 47 new tokens listed this year.
