Meme coins ranked among the most popular crypto narratives of 2024, creating a divide between crypto tokens. Bitcoin stands out among top crypto tokens with 125% year-to-date gains, and the meme coin category, or the “other tokens”, hit a key milestone, crossing a market capitalization of $100 billion. 

Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE), the top three meme coins, have erased between 11% and 13% of their value in the past week. Bitcoin consolidates close to $95,000, nearly 12% below its all-time high of $108,353. 

Bitcoin vs meme coins, most popular narrative of 2024

Meme coins captured the attention of most crypto traders and emerged as a popular narrative this year. A CoinGecko report updated on Monday notes that the meme coin narrative captured a combined 30.67% of global investor interest. 

The report highlights that almost a third of crypto narrative interest this year was focused on speculative gains from meme coins. Traders placed a lower emphasis on fundamentals and turned their attention and capital towards dog and cat-related meme coins, pop culture references and internet personality-themed meme tokens.

Meme coins have enjoyed a 6% year-on-year increase in interest from crypto market participants. While Bitcoin garnered institutional attention and capital allocation following the approval of Spot BTC ETFs in the US, four meme coin-based trends ranked among the top 20 narratives in crypto. 

Solana (SOL), Base, Artificial intelligenc

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Author: Ekta Mourya