In 2024, memecoins have proven to be highly attractive, capturing 31% of investor attention, far surpassing other technology trends such as artificial intelligence (AI). This is a nearly 4-fold growth compared to last year when this theme only attracted 8.32% interest, according to a report from CoinGecko.

The Memecoin Phenomenon: From Dogs to Cats and Beyond

Initially rising thanks to dog-themed coins, memecoins this year have expanded to include tokens inspired by other animals and even famous characters.

The Pump.fun platform, specializing in creating memecoins, has released nearly 5 million tokens solely on Solana, generating over $335 million in transaction fees.

Prominent memecoin trends in 2024 include:

  • Solana memecoins: 7.65%

  • Base memecoins: 2.13%

  • AI memecoins: 1.49%

  • Cat-themed memecoins: 1.19%

Breakthrough Profits

With an average annual return of 201%, memecoins have become the third-highest yielding investment theme, far surpassing the average 128% return of the cryptocurrency market.

Meanwhile, AI-related tokens only achieved a negative performance of 11.6%, largely due to the 39% depreciation of WLD from Worldcoin.

Competition Between Memecoins And AI

Although AI technology was once a hot topic in the blockchain community, in 2024, memecoins have surpassed AI in popularity.

AI-related themes account for 15.67% of attention, but low returns have caused this sector to lose points in the eyes of investors.

Other Notable Themes

  • Real-world assets (RWA) rose to third place with 8.64% interest, thanks to impressive average returns of up to 1,755%.

  • Decentralized infrastructure network (DePIN) rose from 13th to 8th place, while GameFi saw a significant decline, now only holding 3.72% market share.

Solana And Base Shine

Blockchain ecosystems like Solana and Base continue to attract significant attention.

Solana memecoins lead with 7.65%, while Base-related themes account for 4.87% market share, driven by the growth of memecoins.

Conclusion: A New Investment Trend Emerges

The strong development of memecoins shows that investors are prioritizing speculative and cultural opportunities over traditional fundamentals.

With outstanding profits, this sector will continue to be the focus in the near future, intensifying competition in the cryptocurrency market in 2024.

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