2024 saw a dramatic increase in interest in meme coins, with nearly a third of investor interest focused on speculative tokens rather than fundamental projects.
In 2024, one narrative seemed to dominate the crypto space more than any other: meme coins. According to the latest survey by crypto price aggregator CoinGecko, these tokens, which are often viewed as silly coins made for jokes or community-driven projects, have attracted more than 30% of global investor interest.
Overall, the meme coin narrative accounted for 14.36% of global crypto narrative interest in 2024, nearly doubling the value from 8.32% the previous year. But it’s no longer just about the rise of Dogecoin (DOGE); A whole series of coins with animal motifs and personality have also been created.
“Nearly a third of interest in crypto narratives this year was focused on more speculative opportunities with less emphasis on fundamentals,” notes CoinGecko. And it’s no surprise that these assets are so popular among retail traders. At one moment, meme coins surpassed even major crypto coins and became an easy way to win a digital lottery for regular crypto users.
The Solana moment
One of the most striking examples of the meme coin craze was the role played by Solana, a network that was once on the verge of collapse following the infamous bankruptcy of the FTX cryptocurrency exchange.
It’s worth noting that meme coins have been circulating on Solana for a while now, although it’s fair to say they gained a lot of popularity thanks to platforms like pump.fun, which played a big role in changing the narrative. As a result…
