This year, the most famous ridiculous currencies (Memecoins) in the cryptocurrency sector have performed surprisingly well. Ironically, in some cases, they even outperformed the market giants, such as Bitcoin, during the infamous rally in November following Trump's victory.
For investors looking to pursue high-profit opportunities in the cryptocurrency industry, memecoins remain a significant point of interest. This is due to their potential for both volatility and potential profits. Although memecoins are worth only a fraction of a cent, their total value can sometimes reach billions.
However, according to Binance, memecoins listed in 2024 have seen a significant market cap increase of 80%. This highlights the high reward potential of memecoins despite their inherent risks.
Ben Kurland from DYOR Labs stated, "Meme money is the sugar rush of the cryptocurrency world, fun, flashy, and easy to digest, but it's not necessarily the healthiest game in the long run." 2024 proved this statement as people showed excitement for these coins, resulting in the downside of also suffering significant losses.
Memecoins outperform other cryptocurrencies
After Trump's victory, memecoins outperformed the cryptocurrency market as a whole. The total market value of memecoins in cryptocurrency has increased. At the same time, trading volume in this sector has also increased by over 200%.
The recent surge in activity has brought the total market cap of this category to $120 billion.
Dogecoin, the original memecoin, tops the list. It has become popular and has increased in value by nearly 233% over the past year. However, the price of memecoins has declined since last week, with the current price at $0.31. On Friday, Dogecoin experienced its largest drop in over a month, reaching a low of $0.267.
Notably, the memecoin NEIRO has witnessed incredible growth with a market cap increase of 7,594%.
Additionally, the Bonk (BONK) memecoin also gained attention by breaking its all-time price record, reaching a new high of $0.000057. This allowed it to reclaim its position as the top memecoin in the Solana ecosystem. The price of Bonk increased by over 72% in a week.
Bonk's competitor in the Solana ecosystem, Dogwifhat, also surged by 13.7%. This token is a notable participant in the memecoin space with a market cap peaking at around $2.99 billion according to its most recent performance. It reached an all-time high of $4.83 earlier this year and is currently trading at about $1.90.
Market sentiment in the cryptocurrency space related to the potential for a crypto-friendly business environment after Trump's victory in the US presidential election has been reflected through the surge in memecoins.
The majority of memecoins were created this year, and this number is expected to continue to rise.
Memecoin predictions for 2025
There is speculation that Dogecoin could experience exponential growth during Donald Trump's presidential term, following the announcement of Elon Musk's appointment to the "Department of Government Efficiency" (DOGE), famously known for its acronym.
The price forecast for Dogecoin is in a high-risk range of $0.39 to $0.25. Meanwhile, some cryptocurrency analysts predict that Dogecoin could reach $0.1131 by mid-2025 and $0.1228 by the end of the year.
Additionally, Changelly predicts that by 2025, the price of SHIB will range from $0.0000149 to $0.0000247, with an average trading price of around $0.0000345. Based on the current price, this represents a potential ROI of about 23.5%.
Moreover, the average price of Dogwifhat is expected to decline in the range of $5.39 to $14.72 by 2025. Some optimistic predictions suggest the price could continue to rise. January is expected to be the most crucial month for WIF, with a potential price increase of 392.39% compared to the current value.
However, Bonk (BONK) is expected to fluctuate between $0.00008783 and $0.000239. The average price for the year is projected to be around $0.000138. January is likely to be the best month for BONK, as its value could increase by 409.53% compared to the current price.
Memecoins dominated the market in 2024. How many coins are truly successful?
The majority of memecoins are increasingly failing, regardless of whether they are promoted by influencers on social media, created on Pump.fun, or even if they become popular just due to meme magic. Over 75% of memecoins created in 2024 are already dead.
According to a study conducted by CoinWire, only 1% of influencers can increase the value of memecoins tenfold. Additionally, only 3% of memecoins promoted by influencers will achieve a tenfold increase.
The research analyzed 1,500 tokens promoted by 377 influencer accounts on Twitter in the US and found that 76% of these influencers promoted meme token projects that no longer exist, and 86% of those projects had lost 90% of their value within three months.
Market saturation is not a concern for memecoin creators and investors. It relates to the use of the current moment, with little regard for the future.
DYOR! #Write2Win #Write&Earn $DOGE