Crypto traders have been closely drawn to meme belongings in 2024, in accordance with a brand new research.
In a analysis paper, CoinGecko says that almost all of crypto curiosity in 2024 hit the memecoin sector, which noticed an enlargement from dog-themed tokens to different animal and personality-themed digital belongings.
“The preferred crypto narrative in 2024 was by far the memecoin narrative, which captured a mixed 30.67% of worldwide investor curiosity throughout the principle memecoin narrative and 25 memecoin traits.
In different phrases, virtually a 3rd of crypto narrative curiosity this yr was centered on extra speculative alternatives with much less emphasis on fundamentals, because the market expanded quickly from dog-related memecoins to different animal-and personality-themed memecoins.
Particularly, the principle memecoin narrative ranked 1st with a 14.36% share of crypto narrative curiosity. This represents a 6.04 proportion level enhance from the memecoin narrative’s 8.32% share of curiosity final yr.”
CoinGecko additionally finds that good contract platform Solana (SOL) – identified for being rife with memecoin exercise – additionally drew a big quantity of dealer curiosity in 2024. Base, the blockchain of prime US-based crypto alternate Coinbase, additionally drew notable curiosity.
“Solana-related narratives captured a mixed 14.30% share of investor curiosity, placing it shut behind the AI narrative when it comes to reputation. Whereas Solana memecoins drove virtually half of consideration in the direction of the chain, traders continued to have an interest within the broader Solana ecosystem, which ranked because the fifth hottest narrative with 5.78% of investor curiosity…
In the meantime, two Base-related narratives additionally entered the highest 20 rankings this yr, on the again of the chain’s strengthening reputation. Altogether, the Base ecosystem and the Base memecoins narratives accounted for 4.87% of investor curiosity.”
SOL is buying and selling at $199 at time of writing.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual danger, and any losses you could incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate internet marketing.
Generated Picture: DALLE3
