Since January 1, Bitcoin has gained more than 62% in the past 293 days. In 2024, memecoins have managed to capture the public’s attention in terms of market performance, and the leader is: giga chad (GIGA). The digital asset has gained a staggering 123,929.02% against the US dollar since the beginning of the year. Led by GIGA, a number of other memecoins have also seen impressive gains this year.

In 293 days, Giga Chad becomes a star performer in 2024

Crypto enthusiasts who backed specific memecoins for 2024 are likely very pleased with the results. These playful assets outperformed Bitcoin (BTC) and Ethereum (ETH), the top two cryptocurrencies by market cap. Giga chad (GIGA) has emerged as this year’s top performer, gaining an incredible 123,929.02% in 293 days. While this gain may seem incredible, a number of other memecoins are not far behind.

图片GIGA/USDT October 20, 2024.

For example, NEIRO is up 54,702.24%, APU is up 22,800.28%, and BOME’s valuation has climbed 15,231.75%. BRETT’s value has risen 12,643.76%, while POPCAT has seen a 12,484.98% gain. SPX has increased 7,294.95% since January, MOG has jumped 5,515.12%, and the newly launched AI-powered GOAT coin is up 4,609.91%. Adding to the memecoin momentum, TURBO has jumped 2,517.55% so far this year. Notably, the ten coins with the largest gains this year are all memecoins.

As of October 20, the memecoin market is valued at $62.2 billion. But 2024 has not been all plain sailing, with some assets taking serious hits. AEVO is currently the biggest loser, down 87.02% since the beginning of the year. STRK is close behind, down 86.29%, W down 78%, and SAFE losing 70% of its value. Other notable losers this year include WEMIX, DYM, EIGEN, HAMSTR, and OSMO, many of which were launched recently.

图片AEVO/USDT October 20, 2024.

The wild performance of the memecoin market this year highlights a shift in investor interest in high-risk, high-reward opportunities. While giants like BTC and ETH have shown solid growth, memecoins have captured traders' imaginations and funds. These gains show a continued enthusiasm for quick returns despite the inherent risks of new and lesser-known coins.