Sector Alpha Week of 2026-07-24
Five-year price · 20 complete calendar quarters · BTC-relative

Meme Crypto Coins

Is Meme outperforming Bitcoin, and is leadership broad?

Bottom line

Utya ranks first for research priority in Meme crypto at 64/100, and its native activity proof is incomplete. The theme's 13-week excess versus Bitcoin is +14.2% on 18% breadth, which is what decides whether that lead is isolated or broad. 0 of the 94 assets here carry enough native evidence to move past a tape-led label.

These Meme coins are part of the cryptocurrency universe this site tracks daily — 894 of the top 1,000 crypto currency assets by market cap, priced from exchange closes and matched to protocol fees and revenue where a protocol publishes them.

The theme itself · before any single company

How has Meme moved against Bitcoin?

The line below covers 5 years. Over the most recent two of them this theme is 52% behind Bitcoin. Quarterly protocol revenue is not reported often enough here to draw a lane underneath the price. It has been ahead of Bitcoin on a rolling three-month view for 31 weeks running.

LEADER · ahead 31w·Price down, no fundamental support32 of 69 coins ahead of Bitcoin by 5% or more over three months

RS ↑31w · 16/69 >200d (+5) · 32/69 lead (−5) · EPS —

100200500Mon Mon Mon Mon Mon 116271
100200500Mon Mon Mon Mon Mon 116271
Meme, equal-weighted, based at 200 Bitcoin, same base, same start trailing 12-month protocol revenue rising falling
Strength anatomy MixedHow much of the theme is participating, how recently, and whether the movers score well.
Together32 of 69 coins moving
Fresh3 crossed in the last 4 weeks
Down the cap ladder — bar is now, tick is four weeks ago
Large 4/140
Mid 11/24−4
Small 17/31−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the theme line is an equal-weighted index of its 69 coins. The bars underneath are trailing 12-month protocol revenue, one bar per reported quarter, each member rebased to 100 at the start and the theme taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while protocol revenue grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

RISK OFF market context

Meme vs Bitcoin — Relative Strength & Breadth

Meme crypto has outperformed Bitcoin by 23.5% over 52 weeks on an equal-weight index of current members. Over 13 weeks the figure is +14.2%. 9 of 51 covered assets are above their own 200-day average. Utya leads Bitcoin-relative strength at +236.1%. Price readings are as of 2026-07-24.

+14%13w vs BTC
+24%52w vs BTC
9/51Above 200-DMA
UTYARS leader · +236%
Assets
94
canonical functional membership
Activity-covered
0/94
enough native evidence
Top score
64.0/100
Utya
Calendar quarters
20
complete; missing stays missing
Global asset selection · top 20 shown
Showing 20 of 94 assets
00 · exact additive research priority

4-Factor Crypto Evidence Score

A within-theme research-priority score for the 94 assets in Meme, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. Utya is highest at 64/100 on 50% evidence. It ranks research attention, not portfolio action.

Market leadership · 35Network & economic traction · 30Value capture · 20Liquidity & downside risk · 15
Utya leads the current research queue at 64/100 with 50% evidence.
0/94 assets have enough native activity evidence to move beyond a tape-led label.

Missing native metrics are not scored as zero and are not silently reweighted. They pull only the affected factor toward neutral and lower its visible evidence percentage.

1. Utya · UTYA

64.0/100 · Illiquid · research only · 50% evidence

Exact sum: 34.7 + 15.0 + 10.0 + 4.3 = 64.0

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

34.7/35Market leadership

RS-BTC 236.1 pp · RS-sector 114.1 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

4.3/15Liquidity & downside risk

30d median volume $513,204 · vol 248.7%

100% evidence

2. Zerebro · ZEREBRO

63.2/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 29.4 + 15.0 + 10.0 + 8.8 = 63.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

29.4/35Market leadership

RS-BTC 122.8 pp · RS-sector -4.5 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.8/15Liquidity & downside risk

30d median volume $8,792,172 · vol 158.1%

100% evidence

3. HUNDRED · HUNDRED

63.0/100 · Illiquid · research only · 50% evidence

Exact sum: 30.6 + 15.0 + 10.0 + 7.4 = 63.0

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

30.6/35Market leadership

RS-BTC 25.1 pp · RS-sector 0.5 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

7.4/15Liquidity & downside risk

30d median volume $1,476 · vol 26.1%

100% evidence

4. Araracoin · ARARA

62.6/100 · Illiquid · research only · 50% evidence

Exact sum: 29.6 + 15.0 + 10.0 + 8.0 = 62.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

29.6/35Market leadership

RS-BTC 18.3 pp · RS-sector 0.2 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.0/15Liquidity & downside risk

30d median volume $14,728 · vol 2.1%

100% evidence

5. would · WOULD

60.9/100 · Illiquid · research only · 50% evidence

Exact sum: 28.5 + 15.0 + 10.0 + 7.4 = 60.9

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

28.5/35Market leadership

RS-BTC 21.8 pp · RS-sector -3.3 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

7.4/15Liquidity & downside risk

30d median volume $11,016 · vol 29.1%

100% evidence

6. Manifesting · MANIFEST

57.2/100 · Illiquid · research only · 50% evidence

Exact sum: 28.5 + 15.0 + 10.0 + 3.7 = 57.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

28.5/35Market leadership

RS-BTC 36.9 pp · RS-sector -5.6 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

3.7/15Liquidity & downside risk

30d median volume $105 · vol 98.7%

100% evidence

7. Melania Meme · MELANIA

56.7/100 · Illiquid · research only · 50% evidence

Exact sum: 26.4 + 15.0 + 10.0 + 5.3 = 56.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

26.4/35Market leadership

RS-BTC 6.1 pp · RS-sector 28.8 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

5.3/15Liquidity & downside risk

30d median volume $0 · vol 41.6%

100% evidence

8. YZY · YZY

55.0/100 · Illiquid · research only · 50% evidence

Exact sum: 21.5 + 15.0 + 10.0 + 8.5 = 55.0

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

21.5/35Market leadership

RS-BTC 12.9 pp · RS-sector 0.1 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.5/15Liquidity & downside risk

30d median volume $121,596 · vol 3.7%

100% evidence

9. ORDI · ORDI

54.6/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 19.0 + 15.0 + 10.0 + 10.6 = 54.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

19.0/35Market leadership

RS-BTC -7.2 pp · RS-sector 13.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

10.6/15Liquidity & downside risk

30d median volume $18,621,684 · vol 94.6%

100% evidence

10. Unicorn Fart Dust · UFD

54.4/100 · Illiquid · research only · 50% evidence

Exact sum: 23.1 + 15.0 + 10.0 + 6.3 = 54.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

23.1/35Market leadership

RS-BTC 47.2 pp · RS-sector -10.6 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.3/15Liquidity & downside risk

30d median volume $2,152,804 · vol 101%

100% evidence

11. Pepe · PEPE

54.4/100 · Tape-led · on-chain proof incomplete · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 11.9 = 54.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.9/15Liquidity & downside risk

30d median volume $16,202,593 · vol —

80% evidence

12. BOOK OF MEME · BOME

53.5/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 17.0 + 15.0 + 10.0 + 11.5 = 53.5

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.0/35Market leadership

RS-BTC 0.4 pp · RS-sector 6.5 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.5/15Liquidity & downside risk

30d median volume $10,660,230 · vol 57.7%

100% evidence

13. Official Trump · TRUMP

52.6/100 · Tape-led · on-chain proof incomplete · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 10.1 = 52.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

10.1/15Liquidity & downside risk

30d median volume $5,897,171 · vol —

80% evidence

14. Pump.fun · PUMP

52.2/100 · Tape-led · on-chain proof incomplete · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 9.7 = 52.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

9.7/15Liquidity & downside risk

30d median volume $8,389,209 · vol —

80% evidence

15. GEKKO · GEKKO

51.7/100 · Illiquid · research only · 42% evidence

Exact sum: 18.1 + 15.0 + 10.0 + 8.6 = 51.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

18.1/35Market leadership

RS-BTC 17.4 pp · RS-sector 0 pp · 200-DMA below

77% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.6/15Liquidity & downside risk

30d median volume $33,409 · vol 0%

100% evidence

16. 币安人生 (BinanceLife) · 币安人生

51.6/100 · Illiquid · research only · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 9.1 = 51.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

9.1/15Liquidity & downside risk

30d median volume $4,481,864 · vol —

80% evidence

17. Pudgy Penguins · PENGU

51.6/100 · Illiquid · research only · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 9.1 = 51.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

9.1/15Liquidity & downside risk

30d median volume $4,581,513 · vol —

80% evidence

18. Memecoin · MEME

51.5/100 · Illiquid · research only · 50% evidence

Exact sum: 20.0 + 15.0 + 10.0 + 6.5 = 51.5

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

20.0/35Market leadership

RS-BTC 10.1 pp · RS-sector 3.6 pp · 200-DMA below

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.5/15Liquidity & downside risk

30d median volume $27,485 · vol 67.1%

100% evidence

19. The Black Bull · ANSEM

51.2/100 · Tape-led · on-chain proof incomplete · 15% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 8.7 = 51.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.7/15Liquidity & downside risk

30d median volume $39,219,208 · vol 1555%

100% evidence

20. Giggle Fund · GIGGLE

50.8/100 · Illiquid · research only · 12% evidence

Exact sum: 17.5 + 15.0 + 10.0 + 8.3 = 50.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

17.5/35Market leadership

RS-BTC — · RS-sector — · 200-DMA —

0% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

8.3/15Liquidity & downside risk

30d median volume $1,660,941 · vol —

80% evidence

Showing 20 of 94 ranked assets
03 · complete calendar-quarter evidence

Where is capital actually committed on-chain?

FLOKI leads Meme crypto on Quarter-end TVL at $9M, 23% ahead of Dogecoin. 0 of 4 assets with comparable change data are growing. Coverage is 4 of the 94 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero.

LeaderFLOKI · $9M
Gap23% versus #2
Persistence0 assets have positive comparable growth
Coverage4/94 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

Quarter-end TVL uses protocol TVL first for protocol assets and exact-ID chain TVL for chain assets or where protocol TVL is unavailable. A blank is unavailable, not zero. Growth compares with the same complete quarter one year earlier.
Quarter-end TVLtop five
1FLOKI FLOKI$9.0M
2Dogecoin DOGE$7.4M
3Puff The Dragon PUFF$47.6K
4Degen DEGEN$43
TVL growthtop five
1Puff The Dragon PUFF-49%
2Dogecoin DOGE-54%
3FLOKI FLOKI-62%
4Degen DEGEN-100%
Total value locked · asset comparison
4/94 level · 4/94 change
Latest comparable data · top 20 shown first
AssetQuarter-end TVLTVL growth
utya
zerebro
hundred
araracoin
would
manifesting
melania-meme
yzy
ordinals
unicorn-fart-dust
pepe
book-of-meme
official-trump
pump-fun
gekko
bianrensheng
pudgy-penguins
memecoin-2
the-black-bull
giggle-fund
Showing 20 of 94 assets
02 · let price answer last

Which assets lead on price and relative strength?

Utya leads the Meme tape on Bitcoin-relative strength at +236% over 90 days. 9 of 51 covered assets are above their own 200-day average. Price shows what happened; BTC-relative strength shows whether the asset beat crypto’s opportunity-cost benchmark. Both lines run through 2026-07-24.

Complete set · no silent drops

Which assets are in Meme?

94 priced assets are assigned to Meme, listed below by rank with every one visible — including tape-only names that publish no protocol activity. Each asset has exactly one canonical functional theme, chosen by a specific-to-general first match on its categories. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they have no independent price discovery.

RankAssetPrice90dRS-BTC200-DMA30d volMedian volumePrice qualityActivity sourceScoreEvidence
1Utya UTYA$0.0380+219%+236%Above249%$513.2Kusabletape only64.050%
2Zerebro ZEREBRO$0.0354+105%+123%Above158%$8.8Musabletape only63.250%
3HUNDRED HUNDRED$0.0002+7.7%+25%Above26%$1.5Kusabletape only63.050%
4Araracoin ARARA$0.0004+0.9%+18%Above2%$14.7Kusabletape only62.650%
5would WOULD$0.0799+4.4%+22%Above29%$11.0Kusabletape only60.950%
6Manifesting MANIFEST$0.0002+20%+37%Above99%$105usabletape only57.250%
7Melania Meme MELANIA$0.0016-11%+6.1%Above42%$0usabletape only56.750%
8YZY YZY$0.2941-4.5%+13%Below4%$121.6Kusabletape only55.050%
9ORDI ORDI$3.53-25%-7.2%Above95%$18.6Musabletape only54.650%
10Unicorn Fart Dust UFD$0.0108+30%+47%Below101%$2.2Musabletape only54.450%
11Pepe PEPE$0.0000$16.2Musabletape only54.412%
12BOOK OF MEME BOME$0.0004-17%+0.4%Below58%$10.7Musabletape only53.550%
13Official Trump TRUMP$1.60$5.9Musabletape only52.612%
14Pump.fun PUMP$0.0020$8.4Musabletape only52.212%
15GEKKO GEKKO$0.00000.0%+17%Below0%$33.4Kusabletape only51.742%
16币安人生 (BinanceLife) 币安人生$0.5902$4.5Musabletape only51.612%
17Pudgy Penguins PENGU$0.0063$4.6Musabletape only51.612%
18Memecoin MEME$0.0005-7.3%+10%Below67%$27.5Kusabletape only51.550%
19The Black Bull ANSEM$0.15341,555%$39.2Mreturn withheld · discontinuitytape only51.215%
20Giggle Fund GIGGLE$26.55$1.7Musabletape only50.812%
Showing 20 of 94 assets
Methodology · boundaries make the answer useful

What can make this comparison misleading?

This Meme comparison names 5 ways its own evidence can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Coverage is also uneven — 0 of 94 assets carry enough native evidence to rank on more than price.

  • Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
  • Market-cap values are a dated universe snapshot, not point-in-time historical supply data.
  • Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight.
  • Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred.
  • Equal weighting is used for sector history because true historical market-cap weights are unavailable.
Price and technicalsThrough 2026-07-24. Five-year weekly observations benchmarked to Bitcoin.
Protocol activityThrough 2026-07-24. Fees, revenue, protocol TVL and DEX volume.
Chain activityUsers and transactions through unavailable; separately sourced chain TVL through 2026-07-24.
Market capSnapshot dated 2026-07-04; no historical supply series is implied.
Questions the page should answer directly

Crypto analysis FAQs

These 15 answers cover the questions this page can settle from data it holds — what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.

What is Meme crypto?

Meme crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 94 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-24.

What is the total market cap of Meme crypto coins?

The Meme coins on this page are tracked against a universe of 894 of the top 1,000 crypto currency assets by market cap. Market-cap metadata is dated 2026-07-04, separately from the price series, and each coin's own figure is in the table on this page.

Are Meme crypto coins outperforming Bitcoin?

Meme has returned +23.5% versus Bitcoin over 52 weeks and +14.2% over 13 weeks on an equal-weight current-member index. 9/51 covered assets are above their 200-day averages as of 2026-07-24.

Which Meme asset has the strongest research score?

Utya ranks first at 64/100: 34.7 + 15.0 + 10.0 + 4.3 = 64.0. It is labelled “Illiquid · research only” with 50% overall evidence and 0% native-economics evidence.

How is the Meme 4-factor score calculated?

The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted.

Why can a Meme asset be labelled tape-led?

Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets.

Does protocol revenue accrue to the token?

Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists.

Does crypto have a P/E or PEG ratio?

No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat.

How much history is shown for Meme?

The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps.

Why do the crypto data dates differ?

Prices and technical metrics run through 2026-07-24; protocol activity through 2026-07-24; chain users and transactions through the latest available chain date; chain TVL through 2026-07-24; market capitalisation is a separate snapshot dated 2026-07-04.

Are stablecoins and wrapped tokens included in Meme?

No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery.

Can one token appear in multiple raw crypto categories?

Yes, but public MLA pages assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Meme therefore has one canonical membership list.

What would invalidate the current Meme theme read?

The read weakens if the sector’s 13-week relative return versus Bitcoin falls below zero, fewer than one-third of covered assets remain above the 200-day average, and the leading asset’s native activity also contracts.

Does this page include funding rates, open interest or token unlocks?

No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price.

Where is capital actually committed on-chain?

FLOKI leads Meme crypto on Quarter-end TVL at $9M, 23% ahead of Dogecoin. 0 of 4 assets with comparable change data are growing. Coverage is 4 of the 94 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

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