Meme Coin Market Grins and Bounces Back with 8% Gain as SEC Greenlights Non-Security Status

• Meme coin category on CoinGecko experienced an 8.1% boost
• Current market capitalization is $66.8 billion
• Last week, the SEC declared that meme coins are not considered securities or financial instruments

As of today, the meme coin category on CoinGecko has experienced a notable surge, climbing 8.1% to a market capitalization of $66.8 billion. This move makes meme coins the best-performing category on the crypto data aggregator.

This is good news for this crypto segment considering that the market has experienced significant fluctuations lately. In late February, meme coins lost 59% of their market value from their peak, which had a ripple effect on the broader crypto market, including Bitcoin and Ether.

Meme Coins Bounce Back After Broad Crypto Dip

Granted, the whole crypto market suffered a decline recently, but meme coins had it the worst.

If we go back a week, we can find one of the reasons meme coins are doing so well on CoinGecko. 

Namely, on February 27, the U.S. Securities and Exchange Commission (SEC) declared that meme coins are not considered securities or financial instruments. This official word likely created a more favorable regulato…

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