CoinGecko: Memecoins Account For 31% Of Crypto Narratives In 2024, Representing A Third Of Total Investor Interest

by
Alisa Davidson

Published: December 24, 2024 at 3:10 am Updated: December 24, 2024 at 3:10 am

by Ana

Edited and fact-checked:
December 24, 2024 at 3:10 am

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Data aggregation and analysis platform CoinGecko released a report highlighting that the most dominant cryptocurrency trend in 2024 was the memecoin narrative. This narrative captured 30.67% of global investor interest, encompassing both the primary memecoin trend and 25 associated memecoin sub-trends. Essentially, nearly a third of the total interest in cryptocurrency narratives this year focused on speculative opportunities rather than fundamentals, as the market saw rapid growth, expanding from dog-themed memecoins to others featuring different animals and personalities.

The main memecoin narrative ranked first, accounting for 14.36% of the total cryptocurrency narrative interest. This marks a 6.04 percentage point increase compared to last year, when the memecoin narrative held an 8.32% share.

Apart from the overarching memecoin narrative, four specific memecoin trends also secured spots among the top 20 trends. These included Solana-based memecoins in 4th place with a 7.65% share, Base memecoins in 11th with 2.13%, AI-themed memecoins in 15th with 1.49%, and cat-themed memecoins in 16th with 1.19% of interest.

AI, RWA, And DePIN Gain Popularity In 2024 

Apart from memecoins, the AI narrative captured a total of 15.67% of investor interest, combining both the main AI narrative and five related AI sub-narratives. The overall AI narrative ranked 2nd in popularity this year. While it saw a 1.26 percentage point increase from last year’s 11.32%, this narrative still fell short of the memecoin mania in terms of overall interest.

Other cryptocurrency narratives that gained more attention in 2024 compared to the previous year included real-world assets (RWA) and decentralized physical infrastructure networks (DePIN). The RWA narrative saw an increase of 2.16 percentage points in investor interest, rising from 6.48% in 2023 to 8.64% in 2024. This boost in interest helped elevate its popularity ranking from 6th to 3rd place. Similarly, the DePIN narrative moved up in the rankings, from 13th to 8th place, with a 1.56 percentage point increase in interest.

In contrast, the GameFi trend experienced a decline, with its share of investor interest dropping by 6.77 percentage points, from 10.49% in 2023 to just 3.72% in 2024.

When comparing the most popular narratives in 2023 by investor interest, AI, Gaming, memecoins, the Solana ecosystem, and BRC-20 were among the top trends.