Bloomberg ETF analyst Eric Balchunas shared an email he received detailing the 20 best-performing meme coins so far in 2024. The report also provided "research" on each meme coin. It feels like After describing each different wine, Balchunas smiled and asked another analyst James Seyffort: When will Bloomberg hire a meme currency analyst?
Meme coins are set to shine in 2024
In addition to the leading brother Bitcoin, which will continue to hit all-time highs in 2024, another bright spot is probably the meme currency, especially the meme currency platform Pump.fun launched on Solana, which allows ordinary users to easily issue exclusive meme coins , making meme coins shine this year.
The first place CHILLGUY returns a whopping 52,004%. The report described its "relaxed brand image and viral appeal as a perfect interpretation of the characteristics of meme coins!"
(Who is CHILLGUY listed on Binance? GEN Z is a popular meme coin, but its fate is uncertain. One feature may open the door to LUCE)
Anatoly Yakovenko, co-founder of Solana, also expressed the logic of the popularity of meme coins: "In almost all digital economies, entertainment is the largest source of money. When you think about it in retrospect, well, this is actually quite reasonable."
Binance’s research analysis (Understanding the Rise of Meme Coins) released in November also pointed out that as inflation and housing prices rise, it is increasingly difficult for the younger generation in the United States to accumulate assets. These adverse factors have exacerbated the younger generation’s trust in the traditional financial system. During the crisis, they turned to investments with "anti-traditional finance" characteristics, and meme coins became one of their choices. This sentiment of "financial nihilism" not only allows young investors to invest money in meme coins, but also promotes the rapid growth of the meme coin market.
The Binance report pointed out that even though meme coins do not use technological innovation as their main selling point, they have certain similarities with technology-driven altcoins in terms of gathering community consensus. Altcoins attract investors' trust in their future products through technological vision and future potential; while meme coins rely on the power of emotion and community to create speculative demand through simple narratives.
Bitwise: Meme coins can continue to develop through AI agency in 2025
Bitwise also predicts that 2025 will usher in a greater memecoin craze, with tokens launched by AI agents leading the trend. Bitwise also mentions Clanker, a Layer 2 scaling solution designed for Coinbase. Users simply tag Clanker on Farcaster, tell the AI agent to launch the token with a given name and image, and it will automatically deploy the token. In less than a month, Clanker has launched over 11,000 tokens and generated over $10.3 million in fees.
While Bitwise also believes that meme coins are unlikely to have real-world applications and that most will go to zero, it represents an interesting collision of two groundbreaking technologies, AI and cryptocurrency, and deserves attention.
This article: Meme coin craze hits Bloomberg too! Analysts Ask When to Hire a Meme Coin Analyst? First appeared in Chain News ABMedia.
