In 2024, several Meme coin projects reached a market capitalization of $1 billion, entering the blue-chip ranks.
Original: Meme Radar
Compiled by: Yuliya, PANews
The Meme coin market in 2024 experienced unprecedented growth. Let's take a look back at the most memorable moments of the year.
Market Size and Growth
According to CoinGecko, Meme coins have become the most popular cryptocurrency narrative in 2024, accounting for 31% of market attention.
The total market capitalization skyrocketed from $2 billion in 2023 to $14 billion in 2024, a growth of 600%.
The number of Meme coins entering the top 100 by market capitalization increased by 5, reaching a total of 8.
The number of Meme coins listed on Binance increased by 9, totaling 15.
Development of Blue-Chip Meme Coins
In 2024, several Meme coin projects reached a market capitalization of $1 billion, entering the blue-chip ranks. This includes traditional strong coins such as BONK, PEPE, DOGE, SHIB, FLOKI, as well as emerging projects like BRETT, FARTCOIN, MOG, POPCAT, PENGU, WIF, PNUT, NOT, MEW, GOAT, A16Z.
Solana became the most popular public chain for Meme coins in 2024. The number of Meme coins with a market capitalization exceeding $1 billion on major public chains significantly increased, indicating the diversified development of the Meme coin ecosystem.
Market Data
According to Pumpfun statistics:
Total number of issued tokens: 5,099,235
Successful breakthrough projects: 69,197
Success rate: 1.36%
November was the most active month, during which the Gen Z Quant exit scam occurred, with a new token issuance volume of 1.248 million.
Influence of Celebrities on Meme Coins
In 2024, several KOLs, including Ansem, Unipcs (aka 'Bonk Guy'), Murad, Free, Frank, him, m, Tiger, IGGY AZALEA, kook, zac.eth, WF, Crash, Taiki Maeda had a significant impact on the Meme coin market.
What did Degens say in 2024? The following quotes authentically record the daily conversations of cryptocurrency market participants, reflecting the current market sentiment.
It is worth noting that several Meme coin projects endorsed by celebrities were ultimately confirmed to be scams, including projects endorsed by well-known artists such as $hawk (Haliey Welch), $wap (Cardi B), $lilpump (Lil Pump), $mami (Mikaela Lafuente), $jenne (Caitlyn Jenner), $Davio (Davido), $jason (Jason Derulo), and $king (Sean Kingston).
Evolution of Market Narratives
Throughout the year, several significant Meme coin themes emerged, including:
Dogecoin series
Cat coin series
Politically related coins
Celebrity coins
National theme coins
Male culture coins
Imitation coins, etc.
TikTok
Animal justice
AI
Common Tools
The trading tools most commonly used by Meme community users include GMGN.Ai, BullX, Photon, ApePro, MEVX, Shuriken, Trojan, Sigma, pepe boost, Meta, Banana Gun, and SolTradingBot.
Looking ahead to 2025, the Meme coin market is expected to remain vibrant. With the continuous maturation of the ecosystem, more innovative projects and investment opportunities are anticipated.
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