Meme Coins Surge with $136B Market Cap; Meme Bank Revolution Looms
Meme coins are stealing the spotlight this cycle, leaving AI, gaming, and DeFi coins way behind. They’ve become one of the fastest-growing ...niches in the bull market, currently ranking 4th behind currencies, chains, and stablecoins. Back in 2020, there were just 13 liquid meme coin projects; by 2024, that number has climbed to 1,091.
The crypto winter of 2022-2023 hit meme coins hard, dropping their market cap to around $21 billion. But by Q1 2024, meme coins staged a massive comeback, soaring 169% to reach a market cap of $60 billion. By Q4 2024, their market cap has climbed even higher, and is sitting at a massive $136 billion as of now, with a jaw-dropping 24-hour trading volume of over $31.7 billion.
Breaking down the numbers for some of the biggest names in the game makes it clear that meme coins are dominating right now. Take $DOGE, the original meme coin that’s been around forever, as an example. It absolutely crushed it this year, jumping 364% from $0.09 to $0.43. Some are even saying it outshined Bitcoin as a better investment. $PEPE also had its moment, growing by 1,280% in 2024.
The growth of newer meme coins has been particularly notable in Q3 and Q4 of the year. $WIF reached a $4 billion market cap within just four months, and it’s currently trading at $3.4, which is highly unusual for a meme coin since most of them, aside from a few of the most popular ones, have struggled to break the $1 mark. $POPCAT has also made its mark, reaching a market cap of $1.28 billion and securing a spot in the top 100 coins on CoinMarketCap.
Considering all these meme coin statistics, it's impressive how far they’ve come, especially when 99.99% of them lack real utility. $DOGE might be the exception with some level of utility (being used as a form of payment in online stores and for Tesla products), but most others don’t offer much.
The potential for meme coins could be much greater if they had practical use, and that's what the team at Choise.ai realized and decided to take action and create the first-ever Meme Bank.
More About Meme Bank
Meme Bank is the newest addition to the Choise.ai ecosystem, and while it’s still to be launched, it promises to unlock the next stage of the meme economy. Instead of being limited to holding and trading, meme coins will soon have the chance to offer much more.
Read more:-
https://www.coingabbar.com/en/crypto-blogs-details/choiseai-announces-meme-bank-to-create-real-utility-for-meme-coins-as-investor-demand-grows-in-2024
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