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Memecoins lead narratives in the crypto market in 2024
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The narratives surrounding cryptocurrencies are fundamental to market success and, in a recent CoinGecko study, It’s clear that memecoins are on the rise, capturing 30.67% of global investor interest in 2024.
While the popularity of Bitcoin and Ethereum remains strong, innovations and fun narratives promoted by projects like Solana memecoins have stood out, indicating a growing preference for tokens that offer engagement and humorto the detriment of more traditional options.
With a well-defined narrative, the project gains identity and communicates directly with the interested public. There are several ways to build a narrative around a cryptocurrency. For example, the Bitcointhe most valuable of all cryptocurrencies, has a narrative that revolves around decentralization, security and scarcity.
THE Ethereumthe second cryptocurrency by market capitalization, built its identity through the narrative of being the source of innovation for the new Web3. THE Cardano it also has a narrative, of being a token of the scientific academy. Meanwhile, USDT is based on the narrative of being what fiat currencies are, only in the digital world. In other words, each crypto project has a narrative behind it, which helps to engage and attract the interest of investors.
Memecoins gain attention from 1/3 of investors
Cryptocurrency analytics platform CoinGecko analyzed all traffic across its website’s categories, covering the period from January 1 to December 21, 2023 and from January 1 to December 21, 2024. With this, the site was able to identify and classify investor interest in various crypto narratives.
In total, the platform reached the 20 most popular narratives on its website. To the memecoins are present in 5 of them, including first place, with 14.36% of general interest. This is a notable increase compared to the 8.32% registered in the previous year.
Solana memecoins took fourth place with 7.65% share, while Base memecoins and cat themed memecoins, like CatSlap, also showed relevance, occupying 11th and 16th positions, respectively, with 2.13% and 1.19% of interest. An interesting fact is the memecoins that are linked to Artificial Intelligencewhich gained 1.49% of interest from the platform’s audience.
Altogether, the memecoins captured a 30.67% share of global investor interest. In other words, a third of investors in 2024 are more interested in projects that engage and with a more entertaining narrative, in contrast to more traditional projects. The trend should continue in the next, with memecoins reaching even higher figures.
Memecoins lead narratives in the crypto market in 2024
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Memecoins lead narratives in the crypto market in 2024
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Memecoins lead narratives in the crypto market in 2024
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Memecoins lead narratives in the crypto market in 2024
