A set of data to understand 2024 Meme coins: the ecological changes behind 600% growth

Original text: Meme Radar

Compiled by: Yuliya, PANews

The Meme coin market experienced unprecedented growth in 2024. Let’s look back at the most memorable moments of the year.

Market size and growth

According to data from CoinGecko, Meme coins have become the most popular cryptocurrency narrative in 2024, accounting for 31% of market attention.

• The total market value will soar from US$20 billion in 2023 to US$140 billion in 2024, an increase of 600%.
• The number of Meme coins in the top 100 by market capitalization increased by 5 to 8.
• The number of meme coins listed on Binance increased by 9, bringing the total to 15.

Blue Chip Meme Coin Development

In 2024, multiple Meme coin projects will reach a market value of US$1 billion, becoming blue-chip. It mainly includes traditional strong currencies such as BONK, PEPE, DOGE, SHIB, and FLOKI, as well as emerging projects such as BRETT, FARTCOIN, MOG, POPCAT, PENGU, WIF, PNUT, NOT, MEW, GOAT, and A16Z.

Solana becomes the most popular Meme coin public chain in 2024. The number of Meme coins with a market value of over US$1 billion on major public chains has increased significantly, showing the diversified development of the Meme coin ecosystem.

market data

According to Pumpfun statistics:

• Total number of issued tokens: 5,099,235
• Successful breakthrough projects: 69,197
• Success rate: 1.36%

November was the most active month. During this period, the Gen Z Quant incident occurred, and the number of new tokens issued reached 1.248 million.

Meme currency celebrity influence

In 2024, many KOL pairs including Ansem , Unipcs (aka 'Bonk Guy') , Murad , Free , Frank , him , m , Tiger , IGGY AZALEA , kook , zac.eth , WF , Crash , Taiki Maeda , etc. Meme currency market has an important impact.

What does Degens say in 2024? The quotes below truly record the daily conversations of cryptocurrency market participants and reflect current market sentiment.

It is worth noting that many Meme coin projects endorsed by celebrities were eventually confirmed to be scams, including projects endorsed by many well-known artists. Such as $hawk (Haliey Welch), $wap (Cardi B), $lilpump (Lil Pump), $mami (Mikaela Lafuente), $jenne (Caitlyn Jenner), $Davio (Davido), $jason (Jason Derulo) and $ king (Sean Kingston).

Market Narrative Evolution

Several notable meme currency themes emerged throughout the year, including:

• Dogecoin Series
• Cat coin series
• Politically related currencies
• celebrity coins
• National theme coins
• Male cultural currency
• Imitation coins, etc.
• TikTok
• animal justice
• artificial intelligence

Common tools

The most commonly used trading tools by Meme community users include GMGN.Ai , BullX , Photon , ApePro , MEVX , Shuriken , Trojan , Sigma , pepe boost , Meta , Banana Gun and SolTradingBot .

Looking forward to 2025, the Meme coin market is expected to remain dynamic. As the ecosystem continues to mature, more innovative projects and investment opportunities are expected to emerge.