- Memecoins have attracted mainstream interest, bringing the market capitalization to $127 billion.
- Platforms like Pump.fun have fueled accessibility, seeing 69,046 daily token launches globally.
The cryptocurrency market has seen remarkable growth after Donald Trump became the 47th President of the United States.
The global crypto market cap reached $3.3 trillion, up 3.41% in just 24 hours. Bitcoin (BTC) has established itself as a dominant force, reaching $98,757.67 and closing in on the elusive $100,000 mark, according to CoinMarketCap.
However, attention is increasingly turning to memecoins.
Memecoins are gaining momentum
Recent data from CoinGecko reveals the memecoin market surged to $127 billion, reflecting a 6.3% jump over the same period, highlighting its growing influence in the crypto landscape.
Beyond the impressive increase in market capitalization, memecoins are making waves in search trends. Google Trends data shows that searches for “memecoin” skyrocketed, reaching a peak score of 100, the highest level in five years.
Source: Google Trends
This push highlights that after several cycles of hype around memecoin, the term is now resonating with a broader audience beyond niche crypto circles.
Searches for “meme coins” and “meme coins” are increasing, signaling a significant shift toward widespread interest in this once-new segment of the cryptocurrency market.
The year 2024 and the memecoin market
For those unaware, the memecoin landscape has evolved well beyond its 2021 peak, with search trends now outpacing those of the NFT-driven bull market.
Unlike previous cycles that relied heavily on influencers and faced accessibility issues, today’s memecoins are powered by streamlined infrastructure and an influx of general interest.
Platforms like Binance, Coinbase and Robinhood have legitimized tokens like Pepe (PEPE) And Shiba Inu (SHIB)fueling accessibility.
So, with valuations often reaching $500 million to $1 billion, memecoins now thrive on rapid community-driven growth, attracting traders focused on opportunities rather than the technical details of the blockchain.
Best memecoin price analysis
That being said, AMBCrypto’s deeper analysis of the top-performing memecoins highlights their important role in the market’s remarkable rise.
Dogecoin (DOGE) is leading the charge, contributing nearly half of memecoin’s market capitalization with a staggering valuation of $58.25 billion.
Trading at $0.3965, at press time, DOGE recorded an impressive monthly rally of 187.49%, consolidating its dominance.
SHIBoften dubbed the “DOGE-killer,” has also gained ground, rising 39.35% over the past month to $0.00002499, at the time of writing.
Despite a slight daily decline, PEPEs the price increased by 9.52% in 24 hours and presented a strong monthly growth of 114.78%, strengthening its position in the rapidly evolving memecoin landscape.
How does Pump.fun act as a catalyst?
In addition to this growth, the rise in meme token creation, driven by platforms like Pump.fun, highlights the growing accessibility and mainstream appeal of this trend.
With a record 69,046 daily token launches and $4.39 million in daily fees, Pump.fun has become a mass participation platform, attracting millions of users worldwide, especially younger audiences .
Its growing popularity, fueled by integrations with social media trends like TikTok, shows a shift in meme token culture from niche crypto insider activity to widespread engagement.
However, the space remains volatile, with a majority of tokens failing to gain traction and risks of significant losses for overzealous investors.