In the wealth frenzy unfolding in the cryptocurrency market, Bitcoin [BTC] ignited the fuse first. Over the past week, BTC shocked the market with an explosive increase of 9.2%, akin to throwing a huge stone into a calm lake, stirring up layers of waves. Although BTC subsequently retreated 2.6% from a local high of $1,058,000, causing slight fluctuations in the altcoin market, this did not hinder the crazy surge of memecoins.

According to CoinMarketCap data, on May 6, the market capitalization of memecoins was only $52.7 billion. In just six days, its market capitalization soared to $73 billion, with a growth rate of 27.8%, presenting a jaw-dropping feast of wealth.