For years, the crypto sector has accustomed us to rapid developments, but 2024 marks an unprecedented change with the extraordinary rise of memecoins. Initially regarded as curiosities or digital jokes, these assets have now exploded onto the global financial scene, attracting a massive wave of investors. With a capitalization that has jumped nearly 400 %, memecoins are no longer mere cultural phenomena, but economic forces in their own right.
An exponential growth driven by unprecedented performances
Since the beginning of the year, memecoins have seen their collective value rise from $23.55 billion to $117.28 billion, with an incredible growth of $93.73 billion. At the forefront of this revolution are assets like Gigachad (#GIGA ), which boasts an exceptional increase of 117,429 %, and Degen (#DEGEN ), with a spectacular rise of 116,360 %. These figures reflect an unprecedented enthusiasm, fueled by the growing popularity of these tokens. According to data, āthe transaction volume related to memecoins alone represents 17.75 % of the total trading volume in a single day.ā A statistic that demonstrates the growing interest in these assets, which have long been perceived as niche products.
Historical players, such as Dogecoin ($DOGE ) and Shiba Inu ($SHIB ), also continue to play a central role in this success. Dogecoin, dubbed āthe grandfather of memecoinsā, saw its capitalization increase by 298.79 % this year, while Shiba Inu recorded a notable rise of 124.95 %. These performances reflect resilience, but also a capacity to capture the attention of new categories of investors eager for quick returns in a constantly changing market.
