Crypto investors were strongly attracted to meme assets in 2024, according to a new study.
In a research paper, CoinGecko say that the majority of crypto interest in 2024 hit the memecoin sector, which saw an expansion from dog-themed tokens to other animal- and personality-themed digital assets.
“The most popular crypto story in 2024 was by far the memecoin story, which together attracted 30.67% of global investor interest in the top memecoin story and 25 memecoin trends.
In other words, nearly a third of interest in crypto stories this year focused on more speculative opportunities with less emphasis on fundamentals, as the market quickly expanded from dog-related memecoins to other memecoins with animal and personality themes.
Specifically, the top memecoin story ranks first with a 14.36% share of crypto narrative interest. This represents an increase of 6.04 percentage points from last year’s 8.32% stake in the memecoin story.”
CoinGecko also notes that smart contract platform Solana (SOL) – known for its many memecoin activities – also attracted a significant amount of interest from traders in 2024. Base, the blockchain of top US crypto exchange Coinbase, also attracted notable interest.
“Solana-related stories collectively attracted a 14.30% share of investor interest, putting them close in popularity to the AI story. While Solana memecoins attracted almost half of the attention to the chain, investors remained interested in the broader Solana ecosystem, which ranked as the fifth most popular story with 5.78% of investor interest…
Meanwhile, two Base-related stories also entered the top 20 of the rankings this year, thanks to the chain’s increasing popularity. In total, the Base ecosystem and Base memecoins stories accounted for 4.87% of investor interest.”
SOL is trading at $199 at the time of writing.
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