TechFlow News, April 23: According to DL News, CoinMarketCap data shows that the meme coin sector rose nearly 20% over the past month, with its total market capitalization climbing to $34 billion—still down approximately 75% from its peak of nearly $140 billion in December 2024.
Analysts note that this rally is primarily driven by improved risk appetite, heightened on-chain speculation, and sharp gains among a few top-tier tokens—suggesting it may not fully reflect the sector’s overall health. Dogecoin remains the highest-market-cap and highest-trading-volume meme coin, yet it is down 87% from its 2021 all-time high. Additionally, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) recently proposed a five-category token classification framework, categorizing meme coins as collectibles; Canary Capital has also filed an application with the SEC for a Pepe ETF.
