According to a new user survey conducted by the cryptocurrency exchange Binance, cryptocurrency investors (hodlers) are holding more memecoins in their wallets than Bitcoin.
The survey results, published on December 18 as part of the Binance Global User Survey, show that 16% of participants reported holding memecoins, making it the most held cryptocurrency among respondents.
Bitcoin (BTC) ranks second, with 14.44% of participants stating they have a bit in their wallets. The survey sampled over 27K users from Asia, Australia, Europe, Africa, and Latin America.
The cryptocurrency exchange surveyed over 27K users across six continents, asking about their awareness of the cryptocurrency market. Source: Binance
The survey results indicate that memecoins are not only popular in their current numbers but also a type of digital asset that users are eagerly anticipating for the future,” Binance stated.
The exchange did not disclose the value of the assets that participants are holding. However, data from CoinGecko shows that the total market capitalization for memecoins stands at 117 billion USD, with Dogecoin (DOGE) leading trading at 0.362 USD.
In comparison, the market capitalization of Bitcoin is surpassing 2 trillion USD, with this cryptocurrency trading at about 101K USD per coin after reaching a new all-time high of 108K USD on December 17.
AI tokens and memecoins lead growth predictions for 2025
Binance survey participants are also optimistic about memecoins as a leading market in 2025. AI tokens take the lead, with 23% of participants believing it will be the driving factor for market growth in the coming year.
Memecoins rank second, with 19% of respondents stating they believe the market value will increase in 2025.
Google search data also reflects this interest. Over the past 30 days, search volume for the keyword 'memecoin' peaked at 100 on December 5 before dropping to 66 on December 19.
In the past 30 days, search volume for memecoins peaked at 100 on December 5. Source: Google
In contrast, search volume for 'Bitcoin' recorded a level of 50, down from a peak of 100 on the same day.
The Binance survey also found that 45% of participants entered the cryptocurrency space in 2024, with 31% engaging in regular trading.
Memecoins are highly speculative cryptocurrency assets with no utility. Some experts spoke with TinTucBitcoin in December about the possibility of a super cycle for memecoins, predicting the market may still be on an upward trend.
However, back in August, cryptocurrency executives participated in a panel discussion at the Futurists Conference in Canada questioning whether memecoins could follow the trajectory of initial coin offerings and non-fungible tokens—both of which experienced a significant boom before a sharp decline.
