Outside Source
2024 saw massive gains for the crypto market, but meme coins dominated the narrative.
Owing to its notable resurgence, several meme coins even emerged as some of the top-performing cryptocurrencies of the year, contributing to the rise of new crypto millionaires along the way.
Speculative Meme Coins Take Over Crypto
According to CoinGecko’s report, meme coins captured more than 30% of the global investor interest, which was distributed across the central niche narrative and 25 different trends related to them.
This suggests that nearly one-third of the focus in crypto was on speculative investments, where fundamentals took a back seat, with the market rapidly diversifying from dog-themed coins to other meme tokens inspired by animals and public figures.
The primary meme coin narrative itself emerged as the most popular, accounting for 14.36% of total crypto narrative interest, reflecting a considerable 6.04 percentage point rise from last year’s 8.32%. Aside from the overarching meme coin category, other specific trends also gained attention.
Solana-based meme tokens secured 4th place with 7.65% of the narrative interest, while Coinbase-incubated Ethereum Layer 2 Base assets ranked 11th at 2.13%. Meanwhile, AI-themed and cat-centric meme coins rounded out the top 20, with 1.49% and 1.19% of interest, respectively.
AI, RWA, DePIN Trails Behind
The artificial intelligence (AI) narrative was another prominent topic in the crypto market in 2024, attracting a total of 15.67% of investor interest across the general AI narrative and five other AI-related sub-trends. The main AI narrative ranked second overall, holding 12.58% of investor attention.
While this represented a 1.26 percentage point increase from last year’s 11.32%, it was still overshadowed by the meme coin narrative in terms of popularity.
The real-world assets (RWA) and DePIN narratives were among the most notable trends to experience a surge in interest in 2024 compared to the previous year. The RWA narrative saw its share of investor focus rise by 2.16 percentage points, from 6.48% in 2023 to 8.64% in 2024, which also boosted its ranking from 6th to 3rd.
Similarly, the DePIN narrative saw a positive shift, with its share of interest growing by 1.56 percentage points, allowing it to climb from 13th to 8th place. On the other hand, the GameFi narrative faced a decline in popularity, as its share dropped by 6.77 percentage points, from 10.49% in 2023 to 3.72% in 2024.
This article first appeared at CryptoPotato
