The global market capitalization of meme coins currently stands at over $100 billion, making meme coins one of the largest sectors in the market. Benzinga takes a retrospective look at the “coin supercycle» year 2024.
What happened: In 2024, meme pieces have branched out beyond dog-themed favorites, such as Dogecoin DOGE/USD And Shiba Inu SHIB/USDbut also other favorite popular animals, like Pepe PEPE/USD.
Tesla started accept Dogecoin paymentsexpanding the utility of the piece itself.
Shiba Inu recorded significant gains, lose a zero of its price.
However, Pepe surpassed them allbecoming the first winner among major meme coins.
The new launches, however, did not disappoint: a cat-themed piece Popcat was glowing climbing to over $2 billion in valuation at its peak.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | Trend over 1 year |
| Dogecoin DOGE/USD | $0.3094 | $45.7 billion | -2% | +241.8% |
| Shiba Inu SHIB/USD | $0.0000207 | $12.2 billion | -4.7% | +97.4% |
| Pepe PEPE/USD | $0.00001782 | $7.5 billion | -1.6% | +1,233.1% |
| Bonk BONK/USD | $0.00003052 | $2.3 billion | -2% | +112.5% |
| Mog Coin MOG/USD | $0.052081 | $812.9 million | -2.2% | +5,569.7% |
| Popcat POPCAT/USD | $0.7731 | $757.8 million | +3.3% | +7,424.4% |
Trader Notes: Crypto trader Murad believes 2025 could bring even larger coin movements than those seen during DOGE and SHIB’s historic runs.
He emphasizes that success lies in holding the right coins for the next “meme coin craze.” adage “When you invest in Meme Coins, you’re not investing in Memes, you’re investing in people.”
Smiley Capital predicts a delay in the altcoin season, believing that Bitcoin has not yet peaked and meme coins remain relevant. He Remarks:
- Bitcoin will not reach $250,000 this cycle.
- Ethereum could reach $9,000 before the next bear market.
- A sharp correction is inevitable, with most altcoins potentially losing 99% and Bitcoin falling more than 50%.
He concluded: “other than that, I think you succeeded.” Uncle Mungy echoed these sentiments in a tweet:
Statistics: Large Shiba Inu trading volumes increased by 68%, with high-value transactions ($100,000 and above) doubling from 52 to 112 in a single day, according to IntoTheBlock.
Dogecoin short liquidations totaled $990,700, the lowest since October 26. Open interest increased 1.3%, reaching $2.01 billion, according to Coinglass.
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