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

Original: Meme Radar

Compiled by: Yuliya, PANews

The Meme Coin market has experienced unprecedented growth in 2024. Let’s review the most memorable moments of the year.

Market size and growth

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

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

Blue Chip Meme Coin Development

In 2024, multiple Meme coin projects will reach a market value of 1 billion US dollars and become blue chips, including traditional strong currencies such as BONK, PEPE, DOGE, SHIB, FLOKI, and emerging projects such as BRETT, FARTCOIN, MOG, POPCAT, PENGU, WIF, PNUT, NOT, MEW, GOAT, A16Z, etc.

Solana becomes the most popular Meme coin public chain in 2024. The number of Meme coins with a market value of more than $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 tokens issued: 5,099,235
• Successful breakthrough projects: 69,197
• Success rate: 1.36%

November was the most active month, during which the Gen Z Quant runaway incident occurred and the new token issuance reached 1.248 million.

Meme Coin Celebrity Influence

In 2024, many KOLs including Ansem , Unipcs (aka 'Bonk Guy') , Murad , Free , Frank , him , m , Tiger , IGGY AZALEA , kook , zac.eth , WF , Crash , Taiki Maeda, etc. had a significant impact on the Meme coin market.

What did Degens say in 2024? The following quotes are a true record of the daily conversations of cryptocurrency market participants and reflect the current market sentiment.

It is worth noting that several celebrity-endorsed Meme coin projects were eventually confirmed to be scams, including projects endorsed by several 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).

Evolution of market narrative

Several notable Memecoin themes emerged throughout the year, including:

• Dogecoin Series
• Cat Coin Series
• Politically Related Coins
• Celebrity Coin
• National Theme Coins
• Male cultural currency
• Imitation coins, etc.
• Tiktok
• Animal Justice
• AI

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