While meme coins have managed to attract investors' attention, they suffered greatly from last year's market decline. However, this sector is experiencing a revival with data showing increased interest and participation from retail investors amid a broad recovery in crypto assets.
Last month, the number of addresses holding meme coins reached a record high, according to the latest analysis shared by IntoTheBlock. This increase clearly shows that new traders are entering the market in a big way and purchasing meme coins.
CoinGecko's latest report found that meme coins were the most profitable crypto story in the first quarter of 2024, with an impressive 1,312.6% increase in leading tokens, an impressive average return.
A crypto trader turned a $13,000 initial investment into more than $2 million in Donotfomoew (MOEW), a new meme coin on the Base blockchain, on April 3, posting a staggering gain of 15,700%.
As of April 3, the trader holds 388.24 million MOEW tokens, worth approximately $1.75 million. 🚀💰