The cryptocurrency exchange MEXC published a report for January and February, analyzing trends in token listings and trading, with a particular focus on memecoins.
Impact of Memecoins in Early 2023
In the first months of 2023, memecoins accounted for 50% of all new tokens on MEXC, indicating growing investor interest in community-driven and viral digital assets. Of the 451 new tokens listed during this period, 245 were memecoins.
Increasing Interest in New Tokens
Seven of the top ten tokens by trading volume were launched in February, demonstrating sustained demand for high-profile listings despite quieter market conditions in January. In February, the average peak increase for new tokens reached 660%, compared to 388% in January.
Popular Memecoins and Their Success
Four of the top five best-performing tokens — TST, ELONSOL, MELANIA, and CAR — were associated with public figures, highlighting the significant impact of social trends. The TRUMP token was particularly notable, accounting for over 45% of the total trading volume for new tokens.
MEXC's data highlights ongoing interest in trendy tokens and social trends, with a dominant influence of memecoins in listings and price surges.
