Meme coins surge in 2024 with 93 billion growth crypto giants
The meme coin economy has skyrocketed in 2024, growing from $23.55 billion to $117.28 billion, marking a 397.88% increase and adding $93.73 billion in value.
Despite a 6.3% drop in the last 24 hours, meme coins remain one of the top-performing sectors, with leading assets like Dogecoin (CRYPTO:DOGE), Shiba Inu (CRYPTO:SHIB), and Pepe (CRYPTO:PEPE) seeing massive year-to-date gains.
DOGE’s market cap has soared by 298.79%, SHIB has grown 124.95%, and PEPE has jumped an astounding 1,447% since January.
New tokens are driving much of the excitement, with notable gainers like Gigachad (CRYPTO:GIGA) up 117,429%, Degen (CRYPTO:DEGEN) up 116,360%, and Neiro (CRYPTO:NEIRO) rising 60,628%.
Other meme coins, including APU (CRYPTO:APU), BRETT (CRYPTO:BRETT), GOAT (CRYPTO:GOAT), MOODENG (CRYPTO:MOODENG), and WIF (CRYPTO:WIF), have also posted extraordinary gains, demonstrating the sector’s explosive growth potential.
On November 15 alone, meme coins accounted for $47.66 billion in trading volume, representing 17.75% of the day’s $268.5 billion total crypto trading volume.
The sector’s growth has been fueled by both established tokens like DOGE and SHIB and new entrants that capitalize on cultural and speculative trends.
The meme coin economy’s rapid rise reflects its ability to attract a broad range of investors, despite the inherent risks and high volatility associated with these assets.
With its 2024 performance, the meme coin sector has cemented its role in the crypto ecosystem, highlighting its adaptability and cultural influence.
At the time of reporting, Dogecoin price was $0.3753.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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