A new meme token move has come from VanEck, one of the leading investment managers.
At this point, VanEck announced that it was launching a meme token index and included the largest meme tokens in this index.
These meme tokens included Dogecoin (DOGE), Shiba Inu (SHIB), Floki Inu (FLOKI), PEPE, Dogwifhat (WIF) and BONK.
While VanEck Digital Assets Research Head Matthew Siegel announced this news on his X account, he warned his customers that these cryptocurrencies are for entertainment purposes.
“MarketVector has launched the Meme Coin Index (MEMECOIN). This index is a modified market cap-weighted index that tracks the performance of the 6 largest meme coins (DOGE, SHIB, FLOKI, PEPE, WIF and BONK).
Mem tokens refer to crypto assets often named after characters, individuals, animals, works of art, or other memetic elements. Originally supported by enthusiastic online traders and communities, these coins are for recreational purposes.”
VanEck's @MarketVector launches $MEMECOIN index, top 6 assets, 30% cap.
Warns potential customers: "These coins are intended for entertainment purposes" pic.twitter.com/ihjhfCNIR4— matthew sigel, recovering CFA (@matthew_sigel) May 8, 2024
*This is not investment advice.
