Crypto traders had been closely drawn to meme property in 2024, in keeping with a brand new examine.
In a analysis paper, CoinGecko says that almost all of crypto curiosity in 2024 hit the memecoin sector, which noticed an enlargement from dog-themed tokens to different animal and personality-themed digital property.
“The preferred crypto narrative in 2024 was by far the memecoin narrative, which captured a mixed 30.67% of worldwide investor curiosity throughout the primary memecoin narrative and 25 memecoin developments.
In different phrases, nearly a 3rd of crypto narrative curiosity this yr was centered on extra speculative alternatives with much less emphasis on fundamentals, because the market expanded quickly from dog-related memecoins to different animal-and personality-themed memecoins.
Particularly, the primary memecoin narrative ranked 1st with a 14.36% share of crypto narrative curiosity. This represents a 6.04 share level improve from the memecoin narrative’s 8.32% share of curiosity final yr.”
CoinGecko additionally finds that sensible contract platform Solana (SOL) – identified for being rife with memecoin exercise – additionally drew a major quantity of dealer curiosity in 2024. Base, the blockchain of high US-based crypto trade Coinbase, additionally drew notable curiosity.
“Solana-related narratives captured a mixed 14.30% share of investor curiosity, placing it shut behind the AI narrative by way of recognition. Whereas Solana memecoins drove nearly half of consideration in direction of the chain, traders continued to have an interest within the broader Solana ecosystem, which ranked because the fifth hottest narrative with 5.78% of investor curiosity…
In the meantime, two Base-related narratives additionally entered the highest 20 rankings this yr, on the again of the chain’s strengthening recognition. Altogether, the Base ecosystem and the Base memecoins narratives accounted for 4.87% of investor curiosity.”
SOL is buying and selling at $199 at time of writing.
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