Summary:
Coingecko recently released a report revealing that the narratives in the crypto market are becoming increasingly diverse and rapidly changing, with Meme coins and AI being the biggest winners. At the same time, RWA, DePIN, and ecosystems like Solana and Base are also emerging.
The report mentioned that this year Meme coins became the absolute focus of the market, attracting the attention of 30.67% of investors. According to the report, the three most popular narratives are Meme, AI, and RWA. Next, let's take a deeper look at the data behind this report.
Meme Coin: The number one narrative leading the market
In 2024, Meme coins became the biggest focus of the market, with attention reaching 14.36%, an increase of 6.04 percentage points compared to last year's 8.32%, indicating that investors' interest in this type of asset continues to heat up.
Not just mainstream Meme coins, in fact, as many as 25 related sub-trends have also attracted significant attention. For example, Solana Meme coins (7.65%) ranked 4th, Base Meme coins (2.13%) ranked 11th, AI Meme coins (1.49%) ranked 15th, and cat-themed Meme coins (1.19%) ranked 16th. From Dogecoin to Catcoin, to AI-themed Meme coins, investors are increasingly interested in these high-risk, high-reward assets.
Artificial Intelligence (AI): Ranked second, still hot
AI narratives ranked second with 15.67% attention, of which pure AI narratives accounted for 12.58%. Although this is an increase compared to last year's 11.32%, it still lags behind the popularity of Meme coins.
It is worth mentioning that the sub-narrative of AI—such as AI agents (1.17%) has also entered the top 20, indicating that the market remains confident in the future potential of AI technology.
RWA and DePIN: The potential narrative gradually rises
The popularity of Real World Assets (RWA) and Decentralized Physical Infrastructure Networks (DePIN) significantly increased in 2024. The attention on RWA grew from last year's 6.48% to 8.64%, rising from 6th to 3rd place.
DePIN also rose from 13th to 8th place, with an increase of 1.56 percentage points in attention. It can be seen that the market is increasingly focused on application scenarios that combine on-chain and the real world, which have great potential in the future.
Solana and Base ecosystems: Accelerating market share expansion
The Solana narrative attracted 14.30% of market attention in 2024, close to AI narratives, becoming an important force in the crypto market. The dual support of Solana Meme coins (7.65%) and the Solana ecosystem (5.78%) has secured its solid position in the market. The Base ecosystem ranked 9th with 2.68%, while the popularity of Base Meme coins also added points, with an overall share reaching 4.87%.
Gaming narratives and other trends
Although the market focus on gaming narratives dropped from last year's 10.49% to 3.72% in 2024, infrastructure narratives such as Layer 1 (3.51%), Layer 2 (2.25%), and DeFi (1.87%) have maintained relatively stable attention.
2023 Review: AI narratives dominate, Meme coins show initial potential
Looking back at 2023, the focus of the cryptocurrency market was mainly on AI narratives, which ranked first in the market with an attention rate of 11.32%, showing investors' strong expectations for a technology-driven future. Although Meme coins ranked third with 8.32%, their popularity began to emerge, laying the foundation for an explosion in 2024.
