According to a CoinGecko analysismeme coins have established themselves as the king of cryptocurrencies in the market in 2024, occupying 31% of crypto-related searches. Analysis of site traffic from January 1 to December 21 solidified the coin narrative as the most common crypto narrative of the year.
Literally, what is a definitive race in 2024? What the community seemed to desire was particularly the narrative of the meme coins,” said Lim Yu Qian, research analyst at CoinGecko. In the report, statistics demonstrate the growing demand; the proposed “coin master narrative” already accounted for 15% of market search interest demand in 2023, and it grew by more than six points.
The most diverse meme coins, characterized by very high and fluctuating values and mainly used for short-term trading, have been welcomed and scorned by members of the crypto market. Many investors have received rather nice profits due to changes in the value of the tokens, while others only see short-term relationships here and there and frauds in the tokens.
Dogecoin and Shiba Inu Lead Meme Coin Market
The meme coin industry leaders remained unchanged, with Dogecoin (DOGE) on the market valued at $49.3 billion and Shiba Inu (SHIB) valued at $13.8 billion, respectively. Both tokens boast an absolutely ridiculous market cap of $113.2 billion.
Selfie coins were another notable share of interest and framed Solana even better with 8% interest and the fourth most popular coin category. Presumably, the trends of ASE newcomers, like meme coins linked to the AI industry and those using the Coinbase Base blockchain, have only proven the sector’s role in the crypto market.
Meanwhile, meme coins were the leaders. AI tokens were also very popular and took up 13% of investor attention, which was enough to become the second most popular crypto story of the year.
According to CoinGecko statistics, Meme Coins have become the most popular dominant narrative among crypto investors in 2024, attracting almost 31% of investors and accounting for approximately 15% of market traffic. pic.twitter.com/3chHAMkVrZ
– News (@BuddyLuminous) December 25, 2024
AI agents, or self-sufficient intelligent entities intended to perform almost any type of higher-level activity, have received a lot of attention. Some examples are the X account and Truth Terminal, an AI account that adopted and promoted the meme coin known as GOAT, which added almost $1.3 billion to its market cap.
In total, the AI token market cap was worth $44.8 billion in 2024, along with Near (NEAR) and Internet Computer (ICP). But investors seem less enthusiastic about AI tokens than meme coins.
Like AI stories, Solana-related stories were also prominent in 2024, with a total interest of 14.30%, second only to those featuring AI. This attention rose to 47% if devoted to Solana-based coins as an emergent narrative. Solana as an ecosystem started to become the fifth most popular story with 5.78%.
In contrast, the first story, “Achieving Financial Goals by Owning Real World Assets” (RWA), garnered only a meager vote, 1.44%, while the second story, “Rare assets becoming a reality”, has gained popularity by increasing its reach. percentage from 6.48% to 8.64%. Additionally, Decentralized Physical Infrastructure Networks (DePIN) came into focus, grew, and climbed the narrative rankings from 13th to 8th.
On the other hand, the GameFi category saw a significant decline in its share of interest, from 10.49% in 2023 to 3.72% in 2024, showing that new blockchain game the locations have lost their charm.
The report also identified companies new to maturing blockchain environments or companies in emerging blockchain markets. Once again, Coinbase’s Base blockchain was highlighted, with base-centric stories contributing 3.33% to ecosystems and meme coins at 1.54%.
Five of the 67 blockchain ecosystems analyzed entered the top 20 crypto narratives: after Ethereum, Solana, Base, Sui and TON captured 1.82%, 1.04% and 0.85% market share.
The rise of meme coins has also been accompanied by an overall market rise, with BTC up 123% year to date. However, The parts themselves are still relatively robustand further advancements in AI and Solana mean the exciting future of crypto trading will look completely different by early 2025 at the latest.
This may all sound rather hypothetical, but memecoins are still something people are investing in, which is re-establishing memecoins as one of the top market trends. cryptocurrency walk. Such bias might stay in place or disappear for a while, but meme coins have now become the royalty of 2024 narratives in crypto markets.