Smaller meme tokens rose sharply this week despite mixed performance in large-cap peers following hotter U.S. inflation data.
The meme coin sector saw modest gains this week, with smaller tokens outperforming larger counterparts as crypto fund inflows and risk appetite offset inflation concerns. The total meme market cap rose about 1% week-over-week, though Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) declined 1-2%, while MemeCore (M) fell over 12%. Bonk (BONK) bucked the trend with a 2% gain.
The uneven performance followed the U.S. April CPI report, which showed inflation rising 3.8% year-over-year, the highest since 2023. Energy costs surged 17.9% annually, while gasoline prices climbed 5.4% monthly and 28.4% year-over-year. Bitcoin (BTC) briefly dipped below $80,000 before rebounding to $81,200, then retracing below $80,000.
Global crypto fund inflows provided support, though market reactions remained cautious amid macroeconomic uncertainty.