Key points to remember:
- Memecoins have overtaken AI to become the biggest crypto trend in 2024. They account for 31% of investor interest.
- Although it remains a major trend, AI has performed poorly this year. It has fallen behind memecoins in terms of investor interest.
- Blockchain ecosystems like Solana and Base are growing rapidly. They are motivated by memecoins and infrastructure projects.
This news dives deep into CoinGecko data. This shows that memecoins have overtaken AI as the top crypto trend of 2024. We’ll explore the rise of memecoins, why they’re attracting investors, and other notable crypto trends from the past year.
CoinGecko Report
The unexpected rise of Memecoins
Have you ever thought that coins based on funny memes could dominate the crypto market? In 2024, memecoins have exploded in popularity. They outpaced well-funded technology projects. According to CoinGeckoMemecoins attracted 31% of crypto investor interest this year. This represents almost double the interest in AI projects. AI was expected to be the “star” of the year. This shows that humor and community can sometimes be more compelling than advanced technology.
Memecoins attracted 31% of crypto investor interest this year. Source: CoinGecko
You have probably heard of Dogecoin (DOGE) or Shiba Inu (SHIB). These are the original memecoins. They started as online jokes. But they quickly gained huge success. They created a market worth $117 billion. Memecoins are successful because they spread quickly on social media. Celebrity endorsements also boost them. But it’s important to remember that the value of memecoins doesn’t come from intrinsic value or revolutionary technology. It comes from the enthusiasm and confidence of the community.
Examples:
- Dogecoin, initially a joke, is now one of the largest memecoins.
- New memecoins like Pepe (PEPE) and Bonk (BONK) show the continued growth of this trend.
More news: Memecoin Holders Overtake Bitcoin: What Does This Mean for Crypto?
Memecoins on Solana and Base: trend highlights
CoinGecko points out that memecoins are not limited to well-known coins. They thrive in various ecosystems. Solana (SOL) has become a “safe haven” for memecoins. 7.65% of investor interest is focused on Solana-based memecoins. Pump.fun, a platform for easily creating memecoins, has seen nearly 5 million memecoins launched on Solana. This generated more than $335 million in fees.
Memecoins based on Solana
Base, Coinbase’s blockchain, is also seeing significant memecoin activity. It captured 2.13% of investor interest. This indicates that memecoins are not just a passing fad. They can drive the growth of the blockchain ecosystem.
AI remains strong in second place but lags behind Memecoins
Even if it can’t surpass memecoins, artificial intelligence (AI) still generates considerable interest in crypto. AI projects attracted 15.67% of investor interest. AI has many applications in blockchain. AI offers valuable solutions for the crypto market. However, CoinGecko reports that AI tokens have had a rough year. They achieved an average performance of -11.6%.
Examples:
- Projects like SingularityNET (AGIX) and Fetch.ai (FET) are working to combine AI and blockchain for innovative applications.
- The emergence of AI agents like Truth Terminal shows the potential of AI in crypto project management and development.
AI Memecoins and AI agents: a unique combination
Alongside pure AI projects, the mix of AI and memecoins has also gained attention. AI Memecoins represent 1.49% and AI Agents 1.17% of investor interest. This combination of technology and humor can create exciting new trends.
Other Notable Crypto Trends
Beyond memecoins and AI, several other crypto trends have received significant attention in 2024.
Real World Assets (RWA) Real-world assets (RWA), or real-world assets tokenized on the blockchain, are becoming a popular trend. RWA moves from 6th to 3rd place. It holds 8.64% of investor interests.
Examples:
- Projects like Ondo Finance (ONDO) aim to tokenize assets such as bonds or real estate on the blockchain. This improves liquidity and transparency.
Decentralized Physical Infrastructure Networks (DePIN) Decentralized physical infrastructure networks (DePIN) are also attracting investor interest. DePIN climbs from 13th to 8th position. It holds 3.38% interest.
Examples:
- Projects like Helium (HNT) are building decentralized wifi networks. They connect more devices securely and efficiently.
The slowdown of the game Interestingly, the Gaming or GameFi sector has seen a decline. This trend moved from 2nd to 6th position. It only holds 3.72% of investors’ interests. It seems GameFi needs further advancements to regain its appeal.
Main blockchain ecosystems: Solana and Base Along with these trends, blockchain ecosystems play a crucial role. As mentioned, Solana and Base are showing strong growth. Solana-related projects account for 14.30% of investor interest. This mainly comes from memecoins and its vast ecosystem. Base also appears to be a promising platform. It captured 4.87% of the interest. Other ecosystems like Ethereum (1.82%), Sui (1.04%), and TON (0.85%) are also attracting attention.
Summary and outlook
The year 2024 has been full of surprises and volatility for the cryptocurrency market. The rise of memecoins demonstrates that sometimes non-technical factors can be more influential than technology. Here are the main crypto trends for 2024:
Top Crypto Trends of 2024. Source: CoinGecko
Comments:
- The rise of memecoins: shows a change in investment preferences. Investors favor speculative and viral opportunities.
- AI still has potential: even if it does not overtake memecoins, AI remains an important trend with strong growth prospects.
- RWA and DePIN are growing: reflects growing interest in practical applications of blockchain.
- Gaming Needs Innovation: Highlights the need for GameFi projects to innovate and deliver real value to users.
The crypto market is always volatile. Always be careful and do thorough research before investing. Don’t focus too much on “hot” trends. Understand the real potential of projects. Diversify your investment portfolio to minimize risk.