In a surprising development, memecoins have surpassed the best-performing Bitcoin in 2024, according to recent data. This type of cryptocurrency has been showing quite significant increases and price explosions, attracting several investors and drawing attention in the market this year. 2024 has been marked by the growth of the memecoin market, including the Solana ecosystem, one of the rising stars.
In the world of cryptocurrencies, the emergence of meme-inspired coins has been extraordinary. These unique digital assets take inspiration from popular memes and often have a comedic or playful edge. Meme-inspired coins have gained significant attention and popularity thanks to their enthusiastic online communities and viral nature.
As noted in a survey by the analysis platform, Kaiko, on June 18, memecoins perform better than the largest cryptocurrency on the market and other altcoins.
“Despite a recent pullback, meme tokens remain among the best performers this year, outperforming $BTC and other altcoins,” the analysis highlighted.
Despite a recent pullback, meme tokens continue to be among the best performers this year, outperforming $BTC and other altcoins. pic.twitter.com/6a6obCS7vA
— Kaiko (@KaikoData) June 18, 2024
Furthermore, the survey highlighted that the liquidity of Meme tokens reached an all-time high of US$128 million in early June, before retreating slightly.
Currently, the market capitalization of memecoins is $48,252,524,097, with a sharp pullback of 15.3% in the last 24 hours. The broader cryptocurrency market has been showing significant drops in recent days, with memecoins following this trend.
Meme Coins: What is it, and how does it work?
Meme Coins are a unique category of cryptocurrencies that take inspiration from popular memes or have a comical streak. These digital assets are designed to capture the attention of the online community and go viral. Meme Coins originated with Dogecoin, created in 2013 as a satirical take on the hype surrounding Bitcoin and other mainstream cryptocurrencies.
One of the defining characteristics of meme coins is their high volatility. These coins are subject to extreme changes in value over short periods, driven by the current buzz and popularity surrounding the token.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/memecoins-superam-bitcoin-e-registram-melhor-desempenho-em-2024/
