The Meme coin market experienced unprecedented growth in 2024. Let's look back at some of the most memorable moments of the year.
Market size and growth
According to CoinGecko, the Meme coin has become the most popular cryptocurrency narrative in 2024, capturing 31% of the market's attention.
The total market cap soared from $20 billion in 2023 to $140 billion in 2024, an increase of 600%.
The number of memes in the top 100 by market cap has increased by five to eight.
The number of Meme coins listed on Binance has increased by 9, bringing the total to 15.
Blue chip Meme coin development
In 2024, several Meme coin projects reached a market value of $1 billion, joining the ranks of blue chips. It mainly includes traditional strong currencies such as BONK, PEPE, DOGE, SHIB and FLOKI, as well as new emerging projects such as BRETT, FARTCOIN, MOG, POPCAT, PENGU, WIF, PNUT, NOT, MEW, GOAT and A16Z.
Solana became the most popular Meme blockchain in 2024. The number of Meme coins with a market capitalization of more than $1 billion on major public chains has increased significantly, showing the diversified development of the Meme coin ecosystem.
Market data
According to Pumpfun:
Total number of tokens issued: 5,099,235
Successful breakthrough projects: 69,197
Success rate: 1.36%
November was the most active month, with the Gen Z Quant runaway event and 1.248 million new tokens issued.
Meme currency celebrity influence
In 2024, Including Ansem, Unipcs (aka 'Bonk Guy'), Murad, Free, Frank, him, m, Tiger, IGGY AZALEA, kook, zac.eth, WF, Crash, Taiki A number of Kols, including Maeda, have had an important impact on the Meme currency market.
What did Degens say in 2024? The following quotes are authentic recordings of the daily conversations of cryptocurrency market participants and reflect the current market sentiment.
It is worth noting that several meme-coin projects endorsed by celebrities eventually turned out to be scams, including projects endorsed by several well-known artists. Examples include $hawk (Haliey Welch), $wap (Cardi B), $lilpump (Lil Pump), $mami (Mikaela Lafuente), and $jenne (Caitlyn) Jenner), $Davio (Davido), $jason (Jason Derulo), and $king (Sean Kingston).
Market narrative evolution
Several notable meme-coin themes emerged throughout the year, including:
Dogecoin series
Cat Coin series
Politically relevant currencies
Celebrity Coin
National theme currency
Male cultural currency
Imitation coin
Tiktok
Animal justice
AI
Common tool
The most commonly used trading tools in the Meme community include GMGN.Ai, BullX, Photon, ApePro, MEVX, Shuriken, Trojan, Sigma, pepe boost, Meta, Banana Gun, and SolTradingBot.
Looking ahead to 2025, the Meme coin market is expected to remain dynamic. As the ecosystem continues to mature, more innovative projects and investment opportunities are expected to emerge.