Report: Meme coins will account for 31% of crypto narratives in 2024, nearly 4 times more than last year

According to a report published by CoinGecko, meme coins account for 31% of the crypto narrative in 2024, a nearly 4x increase from last year, when the sector attracted only 8.32% of investors across 25 narratives. According to the report, the trend highlights investors’ appetite for speculative opportunities that prioritize cultural virality over traditional fundamentals. According to user evelyn223’s Dune Analytics dashboard, nearly 5 million new meme coins have been deployed on Solana alone this year, with pump.fun collecting more than $335 million in fees. The main meme coin narratives took the top spot in the crypto narrative, accounting for 14.36% of investors. In addition, four meme coin trends made the top 20: Solana meme coins (7.65%), Base meme coins (2.13%), AI meme coins (1.49%), and cat-themed meme coins (1.19%). According to Artemis data, Meme Coin is the third most profitable narrative in 2024, with an average annual return of 201%. The gains are also higher than the market average return of 128%.