Memecoin Index Rises as SHIB, DOGE and PEPE Rally; Political Memecoins BODEN and MAGA VP See Mixed Fortunes

The GMCI index for memecoins rose nearly 10% as top tokens like rose in the past 24 hours.

The Block's GMCI meme index rose nearly 10% as top tokens gained in the past 24 hours.

The highest gainer was Shiba Inu (SHIB), which gained 5.36% to $0.000019 in the past day and now has more than a quarter of The Block's GMCI meme index weight.

Dogecoin (DOGE) followed second with a weight of 23.3%, with the token seeing a 3.88% rise to $0.13. And Pepe (PEPE) came third with a weight of 16.4%, increasing 19.55% to $0.000012 in the past day, according to The Block Prices.

Political memecoins also saw a change in the past day. CoinGecko finds that Jeo Boden (BODEN), the purposely misspelled memecoin named for United States President Joe Biden, increased 4.1% to $0.035 in the past day. The MAGA (TRUMP) token dropped 4.35% in the past 24 hours to $7.87.

After Republican Presidential Candidate Donald Trump picked U.S. senator J.D. Vance, R-Ohio, to be his vice president, the memecoin MAGA VP fell about 56% to $0.1192 during the same time frame, according to the crypto price tracker CoinMarketCap.

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