Interest in meme coins continues in the virtual asset market, with attention focused on a short-term capital rotation pattern in which trading concentrates in certain coins before moving to others. Rather than a single theme leading the entire market, individual coins move according to shifts in community interest and trading volume.

On the 23rd, Pepe (PEPE) and Pudgy Penguins (PENGU) ranked among the top in search interest in the meme coin market. According to the virtual asset information site livecoinrate.com, the two coins were cited among meme coins recently drawing investor attention.

Interest and Volume Move Quickly in the Meme Coin Market

The meme coin market is characterized not only by rapid price gains but also by quickly changing trading volume and market interest. Even if trading concentrates in a particular coin, there is no guarantee such flows will persist for long. When a new topic emerges in the community or another coin's volume rises, market attention can shift.

In particular, meme coins react sensitively to social media virality, expectations of new exchange listings, and short-term liquidity inflows. When these factors act simultaneously, price volatility can expand within a short period.

Trading Volume Sustainability Is Key

The sustainability of trading volume is also cited as an important factor to watch. Even coins that surge in price over a short period may struggle to maintain those levels if volume subsequently declines rapidly. Conversely, even if volume growth continues, price movements may differ depending on whether buying or selling pressure dominates.

For small-cap meme coins, risks from liquidity changes can be more pronounced, since coins with limited tradable supply or insufficient buy orders can see sharp price swings when sell orders concentrate.

Market Size Around $30 Billion... New Tokens See Trading Concentrated on Launch Day

The size of the meme coin market and the trading duration of new tokens are also areas of interest. Some market data covered by the virtual asset media outlet crypto.news put the meme coin market at around $30 billion, and noted that many newly issued tokens see trading activity concentrated on their launch day.

However, such market size figures can vary depending on the time of aggregation and the coins included. The trading duration of new tokens also varies by project and trading environment, making it difficult to apply uniformly to all meme coins.

Major Meme Coins and Small-Cap Meme Coins May Diverge

Another point to note is that the price trends of leading meme coins and new or small-cap meme coins may diverge. While interest persists in relatively well-known coins, some small-cap coins may experience short-term volume spikes and abrupt price changes.

Coins with confirmed search interest, such as Pepe and Pudgy Penguins, offer examples of where market participants' attention is concentrated. However, increased search volume cannot automatically be assumed to translate into expanded buy orders or sustained price gains.

If risk appetite across the broader market weakens, meme coin price volatility could widen further. In particular, coins with low liquidity could see weakening buying pressure and falling prices simultaneously, making it necessary to watch both trading volume and order book conditions.

Ultimately, in the current meme coin market, rather than judging trends by short-term gains alone, it is important to check how sustained trading volumes are and whether interest concentrated in specific coins translates into actual trading activity. As interest continues in major meme coins including Pepe and Pudgy Penguins, the pace of capital rotation and liquidity changes in individual coins remain key variables for gauging future market movements.

[This article is provided for informational purposes as investment reference material and does not recommend buying or selling any specific coin. Conditions may vary depending on market circumstances. Investment decisions and any resulting responsibility rest with the investor. AI provided partial assistance.]