Memecoins captured the largest share of investor interest in 2024, accounting for nearly a third of the crypto narrative mindshare, according to a CoinGecko study. The report analyzed token categories and trends based on site traffic data.
Memecoins emerged as the most popular crypto narrative this year, taking 31% of investor interest, driven by speculative opportunities and rapid price movements. The “main memecoin narrative” accounted for nearly 15% of the total interest, a significant increase from the previous year. Solana memecoins ranked fourth with an 8% share, while Coinbase’s blockchain Base contributed 2% to the narrative. AI memecoins and cat-themed memecoins also made the top 20, capturing 1.5% and 1.2% of interest, respectively.
The study covered site traffic data from Jan. 1 to Dec. 21, 2024, reflecting investor preferences throughout the year.
CoinGecko, a leading crypto data aggregator, conducted the study based on its global user traffic, highlighting trends across various token categories in the crypto market.
The surge in interest for memecoins reflects their appeal as high-risk, high-reward speculative assets. Despite their volatility and susceptibility to scams, memecoins like Dogecoin and Shiba Inu remain popular, with a combined market cap of $63.1 billion out of the $113.2 billion memecoin market. The broader crypto rally, with Bitcoin up 123% year-to-date, likely contributed to the increased attention on memecoins.
CoinGecko’s analysis revealed that memecoins outpaced other narratives, including artificial intelligence (AI) tokens, which ranked second with 13% of investor interest. The overall AI crypto narrative captured 15.5% of attention, driven by innovations like AI agents, which autonomously perform tasks. One notable event was the AI-promoted memecoin GOAT, whose value soared to $1.3 billion. The AI crypto token market currently stands at $44.8 billion, with leaders such as Near Protocol and Internet Computer.
The findings underscore the speculative nature of the crypto market in 2024, with memecoins leading the way despite their short-term price movements and limited fundamentals.
