Crypto Koryo Research: CoinMarketCap Registers 138 Memecoins in April, a New All-Time High

According to Wu, Crypto Koryo research shows that in April 2024, CoinMarketCap registered 138 new Meme coins, a record high, compared to only 18 in April 2023.

New Meme coins have shifted from Ethereum to Solana and Base networks, and some public chains have even launched Meme grants/funds. Before 2023, ERC-20 was the only homogeneous token standard, and then BRC-20 appeared. Subsequently, different standards such as SEC-20, DRC-20, and ASC-20 appeared on the EVM network. In addition, there are currently more than 70k Runes collections.

However, the new Meme coins on CMC are just the tip of the iceberg of the number of Memes. Crypto Koryo believes that too many Meme coins have been issued, and for most people, Meme coins are more like high-risk, low-return investments.