Crypto investors are heavily drawn to meme assets in 2024, according to a new study.
CoinGecko said in a research paper that most of the cryptocurrency interest in 2024 will be driven by the memecoin sector, which has expanded from dog-themed tokens to other animal- and personality-themed digital assets.
“The most popular cryptocurrency story in 2024 was by far the memecoin story, which accounted for a combined 30.67% of global investor attention across major memecoin stories and 25 memecoin trends.
That said, as the market quickly expanded from dog-related memecoins to other animal- and personality-themed memecoins, nearly a third of the cryptocurrency narrative attention this year has focused on more speculative opportunities with less emphasis on fundamentals.
Specifically, the main Memecoin narrative ranked first with 14.36% of interest in cryptocurrency narratives. This is an increase of 6.04 percentage points from the 8.32% interest share of the Memecoin narrative last year.”
CoinGecko also found that Solana (SOL), a smart contract platform known for its high memecoin activity, has attracted a significant amount of trader interest in 2024. Base, the blockchain of Coinbase, the leading U.S. cryptocurrency exchange, has also attracted notable attention.
“Solana-related narratives ranked closely behind AI narratives in popularity, accounting for a total of 14.30% of investor attention. While the Solana memecoin drove nearly half of the interest in the chain, investors continued to be interested in the broader Solana ecosystem, which ranked as the fifth most popular story with 5.78% investor interest.
Meanwhile, two bass-related epics also entered the top 20 this year thanks to Chain’s solid popularity. Overall, the Base ecosystem and Base memecoin narrative accounted for 4.87% of investor interest.”
SOL is trading at $199 at the time of this writing.
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