The Memecoin sector has experienced an 84% surge over the past week, surpassing the performance of the thriving AI tokens market

In a surprising twist, the memecoin sector has emerged as a standout performer in the current bullish crypto market, surpassing the anticipated leaders like Layer 2s and AI tokens. Despite expectations favoring technical advancements such as restaking and modular blockchains, it's the meme coins, including cat and dog-themed tokens, along with fractionalized NFTs, that have taken the lead.

Cat-themed coins like Taylor Swift’s Cat, Banana Cat, and Pop Cat have notably surged, with Taylor Swift’s Cat token experiencing a remarkable 25-fold increase in the past week. Although the market cap of the cat coin sector might seem modest at $730 million, the meme category as a whole boasts an impressive $55 billion valuation, outpacing sectors like liquid staking and gaming tokens.

Among meme coins, dog-themed tokens, spearheaded by Doge, hold dominance, with Doge alone commanding a market cap exceeding $20 billion. The memecoin sector overall has seen an 84% surge in the past week, with notable performers like SHIB, PEPE, BONK, WIF, FLOKI, and POPCAT more than doubling in value, contributing billions to their market caps. Additional significant gainers include MYRO and MOG.