The meme market size exceeds 300 billion, with DOGE and frogs dominating the landscape.

Data shows that the market capitalization of the Meme sector has reached $50 billion, equivalent to over 300 billion yuan. The daily trading volume has reached $4 billion, with liquidity at 8%. This scale has surpassed the $47 billion market capitalization of the liquidity staking sector, far exceeding the less than $30 billion market capitalization of the NFT market, and significantly leading the popular tracks such as Layer2 and DePIN with a market capitalization of over $20 billion.

Meme coins have become the best investment choice in 2023

In May of this year, a trading platform released a report acknowledging that the Meme sector rose by 331%, far surpassing other sectors, making it the best investment choice in the crypto market for 2023. In contrast, many VC-backed projects peak upon listing and subsequently face significant unlocking pressure. Meme coins, however, do not have these troubles; they are fully circulated upon listing, providing a fairer opportunity.

In recent years, Meme coins have become a new way for ordinary investors to make a fortune. For regular users who find it difficult to obtain early shares of quality projects, studying Meme coins may be a better choice.

DOGE Family Dominates the Meme Market

Currently, among the top ten in the Meme market, there is a pattern of "six DOGE, three frogs, and one cat". Among them, DOGE ranks first with a market value of over $17 billion, accounting for 35% of the entire sector. The second is a well-known DOGE that was born in 2020, with a current market value of $10 billion.

The DOGE family also includes FLOKI with a market cap of $1.7 billion, as well as the recently emerged Bonk (market cap of $1.6 billion) and WIF (market cap of over $2 billion). In April of this year, a new emerging public chain also launched a DOGE-themed token, which currently has a market cap of over $500 million.

Cat-themed memes perform mediocre

Compared to the strong performance of DOGE, cat-themed Memes have shown a relatively lukewarm response. Currently, the best-performing cat-themed token is POPCAT, which doesn't quite resemble a traditional cat. There was once a project called "cat in a dogs world" that attempted to break this situation, but it peaked right at the start, making it difficult to generate profits for retail investors.

The Frog System Rises Quietly

In the Meme market, the frog category is rapidly rising. The most famous among them is Pepe, which, although it has only been on the market for just over a year, has already reached a leading market capitalization. Pepe's cultural influence is extensive, having even appeared in various political movements.

In addition to Pepe, Brett is also an important frog-related token. Both originate from the works of cartoonist Matt Furie in "Boy's Club." Since its launch in March of this year, Brett's market capitalization has multiplied by hundreds, reaching $1.5 billion, ranking seventh in the Meme sector.

It is worth noting that the eighth-ranked Bome is also frog-themed, and its initiator is a Pepe derivative artist.

Matt Furie: The Soul of the Frog Meme

Matt Furie, as the creator of the frog meme, has a significant influence. In addition to Pepe and Brett, the derivative creation Bome based on his work has also achieved impressive results. Furthermore, other characters created by Furie, such as Hoppy, Andyd, and Landwolf, have also shown good market performance.

Furie's latest work Dark Lord is released in the form of NFT and may become the next frog-themed project worth paying attention to. As the competition in the Meme track intensifies, more successful frog-themed tokens may emerge in the future.