Memecoins account for 31% of Crypto reports in 2024, with popularity surging 4 times.

CN
3 months ago

This trend highlights investors' preference for speculative opportunities.

Source: cryptoslate

Translation: Blockchain Knight

According to a report from CoinGecko, in 2024, Memecoins dominated 31% of Crypto asset reports.

This proportion has increased nearly fourfold compared to last year, when this topic attracted only 8.32% of investors in 25 reports.

The rise of Memecoins was initially driven by dog-themed tokens but expanded in 2024 to new areas, including animal and personality-themed tokens.

The report states that this trend highlights investors' preference for speculative opportunities, where cultural virality takes precedence over traditional fundamentals.

The Memecoin launch pool Pump.fun can serve as a representative of the success or failure of these tokens.

According to user evelyn223's Dune Analytics dashboard, nearly 5 million new Memecoins were deployed on Solana alone this year, with the platform generating over $335 million in fees.

The Memecoin narrative occupies the top position in Crypto asset narratives, accounting for 14.36% of investor share.

Additionally, four Memecoin trends have made it into the top 20: Solana Memecoins (7.65%), Base Memecoins (2.13%), AI Memecoins (1.49%), and cat-themed Memecoins (1.19%).

According to data from Artemis, in 2024, Memecoins are the third most profitable Crypto asset, with an average annual return of 201%. Their returns also exceed the market's average return of 128%.

This year, the development of AI technology has heightened investors' expectations for the intersection of AI and blockchain.

As a result, this has become a hot trend in the Crypto asset community, occupying 15.67% of the mental share among six narratives.

The core AI ecosystem is responsible for most of the popular trends, ranking second in overall popularity with a share of 12.58%, an increase of 1.26% from last year.

AI-related trends, such as AI agents (1.17%) and AI Memecoins (1.49%), further facilitated the growth of this technology's influence in Crypto assets.

However, this year, the popularity of Memecoins surged dramatically, overshadowing the performance of AI.

Moreover, AI tokens have shown a negative performance of 11.6% this year, primarily due to Worldcoin's WLD dropping by 39%.

The real-world asset (RWA) narrative gained traction, climbing to third place with an 8.64% share of investor interest, an increase of 2.16% from 2023.

Similarly, decentralized physical infrastructure networks (DePIN) rose from 13th to 8th place, with a share increase of 1.56%.

In contrast, the share of blockchain gaming (GameFi) has declined, dropping from 10.49% in 2023 to 3.72% in 2024, reflecting waning interest in game-related blockchain applications.

The RWA sector's average annual return is 1755%, primarily due to the OM token of Mantra rising by 6520%.

Thus, the average return rate of tokens in this sector is exaggerated.

Meanwhile, DePIN tokens surged by 30% during the same period, while gaming tokens averaged a negative performance of 23.4%.

The blockchain ecosystem also attracted significant attention in 2024, with narratives related to Solana and Base becoming increasingly prominent, in which Memecoins played a key role.

Driven by Solana Memecoins (7.65%) and broader ecosystem interest (5.78%), Solana's reports accounted for a total share of 14.30%.

With the support of the Base ecosystem and Base Memecoins, Base's reports accounted for a total share of 4.87%.

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