A recent global user survey conducted by Binance has revealed a surprising shift in cryptocurrency holdings: memecoins now surpass Bitcoin in user wallets. According to the results released on December 18, 16% of respondents reported owning meme tokens, compared to 14.44% holding Bitcoin. The survey sampled over 27,000 users across Asia, Australia, Europe, Africa, and Latin America.
Binance commented on the findings, stating, “Memecoins are not only popular in terms of current holdings but also highly anticipated for future growth.” Despite the lack of disclosed wallet values, market data highlights the rising prominence of memecoins, with their total market cap at $117 billion. Leading the pack is Dogecoin, trading at $0.362.
In contrast, Bitcoin maintains its dominance in market cap, valued at over $2 trillion, with a trading price of around $101,000 after achieving a record high of $108,000 on Dec. 17.
AI Tokens’ Popularity
The Binance survey also provided insights into market sentiment heading into 2025. While artificial intelligence (AI) tokens took the lead, with 23% of respondents expecting them to drive market growth, memecoins secured the second spot with 19% optimism for their future value.
This sentiment is mirrored in search trends. Google data shows search volumes for “memecoin” peaked at 100 on December 5 before settling at 66 by December 19. Comparatively, “Bitcoin” searches reached a volume of 50, having also peaked at 100 earlier in the month.
The survey further revealed that 45% of respondents entered the cryptocurrency space in 2024, with 31% actively engaging in trading. Despite their popularity, memecoins remain hyper-speculative assets with no inherent utility, fueling debates about their long-term viability.
Memecoins Set To Maintain Momentum?
Industry experts are divided on the future of memecoins. While some predict a possible memecoin supercycle, others draw parallels to previous market trends, such as the boom and bust of initial coin offerings (ICOs) and non-fungible tokens (NFTs).
At Canada’s Futurists conference in August, crypto leaders questioned whether memecoins could sustain their momentum or face a similar fate to these once-booming trends. Nevertheless, the survey results indicate a clear enthusiasm among users for memecoins, suggesting they will remain a central topic in the cryptocurrency landscape heading into 2025.
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