This year, the most well-known silly currencies (Memecoins) in the crypto industry have performed surprisingly well. Ironically, in some cases, they have even outperformed the market giants, such as Bitcoin, during the infamous November rally following Trump’s victory.
For investors who desire to pursue high-profit opportunities in the crypto industry, memecoins remain a significant point of interest. This is due to their potential for both volatility and potential returns.
Although memecoins are worth fractions of pennies individually, their total value sometimes runs to billions.
Memes are the main direction of 2024 🧐 Alas, while the fundamental is resting, memes are accelerating only on the way. Since the beginning of 2024, the total capitalization of memcoins has increased by $93.73 billion. pic.twitter.com/t6VjY2Rhpp
— To The Moon | Altcoin Gems & BTC (@ToTheMoonMemeX) December 3, 2024
Still, according to Binance, memecoins listed in 2024 experienced a large market cap rise of 80%. This has highlighted the high reward potential of memecoins despite their inherent risks.
Ben Kurland from DYOR Labs said, “Meme coins are the sugar rush of the crypto world fun, flashy, and easy to digest, but they’re not exactly the healthiest long-term play.” 2024 has proven this statement as people have shown excitement for these coins, leading to a downside of great losses as well.
Memecoins outperform other crypto entities
Following Trump’s victory, memecoins outperformed the broader crypto market. The aggregate market value of memecoins in crypto increased. Simultaneously, the trading volume in the sector also increased by more than 200%.
Memecoins market cap growth trend. Source: Coinmarketcap
The recent increase in activity has taken the total market cap of the category to $120 billion.
Price and market cap data about DOGE, SHIB, PEPE, BONK, and FLOKI. Source: Zebpay
Dogecoin, the original memecoin, tops the list. It has gained popularity and has experienced nearly a 233% increase in value over the past year 25%. However, the memecoin’s price has decreased since last week, with a current price of $0.31. On Friday, Dogecoin experienced its most precipitous decline in over a month, reaching a low of $0.267.
Notably, memecoin NEIRO has seen amazing growth, with its market capitalization increasing by 7,594%.
In addition, the Bonk (BONK) memecoin also made headlines by breaking its all-time price record, reaching a new high of $0.000057. This allowed it to reclaim its position as the leading memecoin in the Solana ecosystem. Bonk’s price increased by more than 72% in a week.
Bonk’s competitor in the Solana ecosystem, Dogwifhat, also surged by 13.7%. The token is a notable participant in the memecoin sector with a market cap that peaked at approximately $2.99B as of its most recent performance. It reached an all-time high of $4.83 earlier this year and is currently trading at approximately $1.9.
Sentiment in the crypto market regarding the potential for a crypto-friendly business environment in the wake of Trump’s victory in the US presidential election was reflected in the rally in memecoins.
A vast majority of memecoins were created this year, and this figure is expected to continue to rise.
2025 memecoins predictions
There is speculation that Dogecoin may experience exceptional growth during a Donald Trump presidency, following the announcement of Elon Musk’s appointment to the “Department of Government Efficiency” (D.O.G.E.), which is famed for its abbreviation.
Dogecoin price projections are within a high-risk range of $0.39 to $0.25. In the meantime, certain crypto analysts predict that Dogecoin may reach $0.1131 by mid-2025 and $0.1228 by the year’s closure.
Also, Changelly predicted that by 2025, SHIB’s price will fluctuate between $0.0000149 and $0.0000247, with an average trade price of roughly $0.0000345. Based on the current pricing, this represents a possible return on investment of approximately 23.5%.
In addition, Dogwifhat’s average price is anticipated to fall within the $5.39 to $14.72 range by 2025. Some optimistic predictions indicate that it may continue to increase. It is anticipated that January will be the most significant month for WIF, with prices potentially increasing by 392.39% in comparison to their current value.
Still, Bonk (BONK) is expected to fluctuate between $0.00008783 and $0.000239. The average price for the year is anticipated to be approximately $0.000138. January has the potential to be the best month for BONK, as its value could increase by 409.53% compared to its current price.
Memecoins reigned supreme in 2024. How many were actually success stories?
An ever-increasing majority of memecoins fail, regardless of whether they are promoted by social media influencers, created on Pump. fun, or even if they gained popularity through the mere magic of memes. More than 75% of memecoins were created in 2024, and over 97% are dead.
According to a study conducted by CoinWire, only 1% of influencers have been able to increase the value of a memecoin by tenfold. Additionally, only 3% of memecoins that are promoted by influencers will ever attain a 10x increase.
The research, which analyzed 1,500 tokens promoted by 377 American Twitter influencer accounts, discovered that 76% of these influencers promoted defunct meme token projects, and 86% of those projects experienced a 90% decline within three months.
The saturation of the market is of no concern to memecoin creators and investors. It pertains to the use of the present moment, with minimal regard for the future.
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