Dogecoin, PEPE and BONK lead meme rally amid growing disapproval from industry leaders

• DOGE, PEPE and BONK are among the top gainers in the meme category as the sector recovers.
• Swedish investment firm Valor has launched the first-ever DOGE ETP as altcoin ETF speculation grows in the United States.
• Binance co-founder Changpeng Zhao has suggested that the crypto market needs to move from meme coins to creating actual products.

The meme coin sector rallied on Wednesday as major tokens including Dogecoin (DOGE), PEPE, and BONK led the charge. With anticipation growing for a DOGE ETF in the United States next year, industry experts have spoken out on the future of meme coin investing.

DOGE, PEPE, BONK Among Top Coin Gainers Today

The meme sector has received a lot of attention in recent weeks, becoming one of the best performing sectors since the US presidential election.

In the last 24 hours alone, the meme category saw an increase of over 4%, with major tokens including DOGE, PEPE, and BONK leading the rally.

PEPE is currently leading the rally with double-digit gains of 10% over the past 24 hours. PEPE experienced remarkable growth following Donald Trump’s victory in the presidential election.

The token was quickly recognized by several exchanges, including Robinhood and Coinbase, leading to significant gains and a new all-time high.

Coinbase announced on Wednesday that PEPE is now available to its users in New York. This propelled the token’s rise above 13% before a slight correction.

Likewise, Dogecoin (DOGE) has seen impressive gains, gathering over 6% in the past after recent developments.

DOGE reached a major milestone after Swedish investment firm Valor launched the first-ever DOGE exchange-traded product (ETP) on Tuesday. This is the first time a meme coin will be traded via an ETP.

BONK also saw gains of 6% over the past 24 hours. Additionally, more and more meme coins are being listed by exchanges, suggesting that they are seeing growing demand among traders and investors.

However, a few key opinion leaders (KOLs) have weighed in on the recent bullish momentum in meme tokens.

These leading voices highlighted the growing trend among memes, suggesting that the crypto industry may need to shift its investments away from this class of tokens.

Binance co-founder Changpeng Zhao sparked the conversations after a post he made on X, suggesting that meme coins are “getting a little weird now.”