Memecoin index up nearly 10% as SHIB, DOGE and PEPE rally

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

The highest gainer was Shiba Inu SHIB +5.33% ( 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 +3.73% ( DOGE ) followed second with a weight of 23.3%, with the token seeing a 3.88% rise to $0.13. And Pepe PEPE +17.88% ( PEPE ) came third with a weight of 16.4%, increasing 19.55% to $0.000012 in the past day, according to The Block Prices. 

Poltical memecoins

Political memecoins also saw a change in the past day. CoinGecko finds that Jeo Boden BODEN +14.39% , the purposely misspelled memecoin named for United States President Joe Biden, increased 4.1% to $0.035 in the past day. The MAGA ( TRUMP -3.97% ) 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.