Crypto investors were heavily attracted to meme assets in 2024, according to a new study.
In a research paper, CoinGecko said that the majority of interest in crypto in 2024 has hit the memecoin sector, which has seen an expansion from dog-themed tokens to other animal and personality-themed digital assets.
“The most popular crypto narrative in 2024 was by far the memecoin narrative, which captured a total of 30.67% of global investor interest across the main memecoin narrative and 25 memecoin trends.
In other words, nearly a third of the crypto narrative interest this year has focused on more speculative opportunities with less emphasis on fundamentals, as the market has rapidly grown in crypto-related memecoins. dogs to other animal and personality themed memecoins.
Specifically, the main memecoin narrative ranked first with a 14.36% share of crypto narrative interest. This represents an increase of 6.04 percentage points from the 8.32% interest share of the memecoin narrative last year.
CoinGecko also finds that smart contract platform Solana (SOL) – known for its memecoin activity – has also seen significant interest from traders in 2024. Base, the blockchain of the leading US-based cryptocurrency exchange, Coinbase, has also attracted notable interest.
“Solana-related stories captured a combined 14.30% share of investor interest, placing them just behind the AI story in popularity. While Solana memecoins drove nearly half of the attention to the chain, investors continued to show interest in the broader Solana ecosystem, which ranked as the 5th most popular story with 5.78% of investor interest…
Meanwhile, two Base-related stories also entered the top 20 rankings this year, thanks to the channel’s growing popularity. In total, the core ecosystem and core memecoin narratives accounted for 4.87% of investor interest.
SOL is trading at $199 at the time of writing.
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