The Meme coin market experienced unprecedented growth in 2024. Let's review the most memorable moments of the year.
Market Size and Growth
According to CoinGecko data, Meme coins have become the most popular crypto narrative in 2024, accounting for 31% of market attention.
· The total market cap soared from $20 billion in 2023 to $140 billion in 2024, a 600% increase.
· The number of Meme coins in the top 100 by market cap increased by 5, reaching 8.
· The number of Meme coins listed on Binance increased by 9, totaling 15.
Blue-chip Meme Coin Development
In 2024, several Meme coin projects reached a $1 billion market cap, joining the blue-chip ranks. This includes traditional strong coins like BONK, PEPE, DOGE, SHIB, FLOKI, as well as new entrants like BRETT, FARTCOIN, MOG, POPCAT, PENGU, WIF, PNUT, NOT, MEW, GOAT, and a16z.
Solana became the most popular Meme coin blockchain in 2024. The number of Meme coins with over $100 million market cap on various blockchains has increased significantly, indicating the diversification of the Meme coin ecosystem.
Market Data
According to Pumpfun statistics:
· Total tokens issued: 5,099,235
· Successful projects: 69,197
· Success rate: 1.36%
November was the most active month, during which the Gen Z Quant rug pull event occurred, resulting in 1.248 million new token issuances.
Meme Coin Influencer Impact
In 2024, several KOLs, including Ansem, Unipcs (aka 'Bonk Guy'), Murad, Free, Frank, him, m, Tiger, IGGY AZALEA, kook, zac.eth, WF, Crash, and Taiki Maeda, had a significant impact on the Meme coin market.
What did Degens say in 2024? The following quotes accurately recorded the daily conversations of crypto market participants, reflecting the current market sentiment.
It's worth noting that several celebrity-endorsed Meme coin projects were ultimately proven to be scams, including projects endorsed by well-known artists such as $hawk (Haliey Welch), $wap (Cardi B), $lilpump (Lil Pump), $mami (Mikaela Lafuente), $jenne (Caitlyn Jenner), $Davio (Davido), $jason (Jason Derulo), and $king (Sean Kingston).
Market Narrative Evolution
Throughout the year, several significant Meme coin themes emerged, including:
· Dogecoin series
· Cat coin series
· Politically-related coins
· Celebrity coins
· Country-themed coins
· Male culture coins
· Imitation coins
· Tiktok
· Animal justice
· AI
Common Tools
The most commonly used trading tools by the Meme community include GMGN.Ai, BullX, Photon, ApePro, MEVX, Shuriken, Trojan, Sigma, pepe boost, Meta, Banana Gun, and SolTradingBot.
Looking ahead to 2025, the Meme coin market is expected to maintain its vitality. As the ecosystem continues to mature, more innovative projects and investment opportunities are anticipated to emerge.
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