Memecoins dominated 31% of crypto tales in 2024, in response to a message by CoinGecko.
This represents an almost four-fold improve in comparison with final yr, when solely 8.32% of traders out of 25 tales have been snug with the subject.
Initially fueled by dog-themed cash, the rise of memecoins has expanded into new areas in 2024, together with animal and personality-themed tokens.
Based on the report, this pattern highlights traders' urge for food for speculative alternatives favoring cultural virality over conventional fundamentals.
Memecoin launchpool Pump.enjoyable can be utilized as a proxy for the success of those tokens. Almost 5 million new memecoins have been deployed on Solana alone this yr, with the platform receiving greater than $335 million in charges, in response to Dune Analytics. dashboard by evelyn223.
Memecoin's main narrative has taken the highest spot amongst crypto tales, accounting for 14.36% of investor share.
4 trending memecoins additionally made the highest 20: Solana memecoins (7.65%), Base memecoins (2.13%), AI memecoins (1.49%), and cat-themed memecoins (1.19%).
Based on information by Artemis, memecoins represented the third most worthwhile story in 2024, producing a median annual return of 201%. Earnings have been additionally above the 128% common market return.
Finest AI Tokens
This yr's progress in synthetic intelligence (AI) applied sciences has raised investor expectations concerning the intersection between AI and blockchain. Consequently, it grew to become a scorching pattern within the crypto group, capturing 15.67% mindshare throughout six tales.
The primary synthetic intelligence ecosystem was chargeable for many of the reputation and noticed the second largest total reputation with a 12.58% share, up 1.26% from final yr.
AI-related tendencies similar to AI brokers (1.17%) and AI meme cash (1.49%) additional contributed to the rising affect of this know-how in cryptocurrencies.
Nonetheless, the memecoin sector's meteoric rise in reputation this yr has overshadowed the AI story by considerably outperforming it. as well as AI tokens had a unfavorable 11.6% efficiency this yr, primarily resulting from WLD Worldcoin's 39% draw.
A rising narrative
The true belongings (RWA) narrative gained momentum, climbing to 3rd place with an investor share of 8.64%, up 2.16% from 2023.
Equally, Decentralized Bodily Infrastructure Networks (DePIN) moved from thirteenth to eighth place, with a share of 1.56%.
In distinction, blockchain gaming narrative (GameFi) declined, reducing from a ten.49% share in 2023 to only 3.72% in 2024, reflecting declining curiosity in gaming-related blockchain functions.
The RWA sector posted a median annual achieve of 1,755%, pushed primarily by a 6,520% improve in Mantra's OM token. Consequently, the sector's common token returns have inflated.
In the meantime, DePIN tokens jumped 30% over the identical interval, whereas gaming tokens had a median unfavorable efficiency of 23.4%.
Solana and Base gloss
Blockchain ecosystems additionally attracted vital consideration in 2024, with tales associated to Solana and Base coming to the fore, with memecoins taking part in a key position.
Solana Narratives mixed took a 14.30% share, pushed by Solana memecoins (7.65%) and broader curiosity within the ecosystem (5.78%).
Base narratives hit 4.87%, boosted by the Base ecosystem and Base memecoins.
