Memecoins account for 31% of Crypto coverage in 2024, popularity has increased fourfold.

Source: Blockchain Knight

According to a report by CoinGecko, Memecoins will account for 31% of the coverage in Crypto assets reporting in 2024.

Compared to last year, this ratio has increased nearly fourfold, when it only attracted 8.32% of investors in 25 reports on this topic.

The rise of Memecoins was initially driven by token with a dog theme, but expanded to new areas in 2024, including tokens with animal and personality themes.

The report said the trend highlights investors’ preference for speculative opportunities, with cultural viruses taking precedence over traditional fundamentals.

The Memecoin launch pool Pump.fun can serve as a representation of whether these tokens succeed or not.

According to Dune Analytics dashboard of user evelyn223, nearly 5 million new Memecoins have been deployed on Solana this year alone, costing over 335 million US dollars.

Memecoin narrative dominates the narrative of Crypto assets, accounting for 14.36% of investor share.

In addition, there are four other Memecoins that have entered the top 20 in terms of trends: Solana Memecoin (7.65%), Base Memecoin (2.13%), AI Memecoin (1.49%), and Cat-themed Memecoin (1.19%).

According to Artemis’ data, in 2024, Memecoins are the third most profitable crypto asset, with an average annual return of 201%. Its returns also exceed the market’s average return of 128%.

This year, the development of artificial intelligence technology has raised investors’ expectations for the intersection between artificial intelligence and blockchain.

Therefore, it has become a popular trend in the Crypto asset community, occupying 15.67% of the mindshare among the six narratives.

The core AI ecosystem is responsible for most of the popular trends, ranking second in the overall popular trends with a share of 12.58%, an increase of 1.26% compared to last year.

Artificial intelligence-related trends, such as Artificial Intelligence Agents (1.17%) and Artificial Intelligence Memecoin (1.49%), further promote the growth of this technology’s influence in Crypto assets.

However, this year, the popularity of Memecoins has risen sharply, overshadowing the performance in artificial intelligence.

In addition, the performance of artificial intelligence tokens this year is -11.6%, mainly due to a 39% decline in Worldcoin’s WLD.

The narrative of Real World Assets (RWA) has gained traction, climbing to the third spot with an investor interest share of 8.64%, a 2.16% increase from 2023.

Similarly, the decentralized physical infrastructure network (DePIN) also rose from 13th place to 8th place, with a share increase of 1.56%.

In contrast, the share of blockchain games (GameFi) has declined from 10.49% in 2023 to 3.72% in 2024, reflecting a waning interest in blockchain applications related to gaming.

The annual average return of the RWA sector is 1755%, mainly due to the 6520% increase in Mantra’s OM tokens.

Therefore, the average return on investment of the tokens in this sector has been exaggerated.

At the same time, DePIN tokens surged by 30%, while the average performance of gaming tokens was -23.4% during the same period.

The blockchain ecosystem has also attracted a lot of attention in 2024, with narratives related to Solana and Base becoming more prominent, among which Memecoins have played a key role.

Driven by Solana Memecoins (7.65%) and broader ecosystem interests (5.78%), Solana’s coverage accounts for a total share of 14.30%.

Driven by the Base ecosystem and Base Memecoins, Base’s coverage accounts for 4.87%.