500% growth in 2024: The memecoin madness explained

Associating Internet memes with the world of cryptos: an improbable marriage or a stroke of genius? This divides minds. Between satire that has become a market phenomenon and astronomical capitalization, memecoins are redefining the codes of value creation. But beyond digital dogs and cats, what is the real impact of this new trend on the crypto ecosystem? The answer lies in the figures and market dynamics.

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When Memecoins shake up the rules of investment

What started as an internet joke, with projects like Dogecoin, has now taken unexpected proportions. According to DWF Labs, memecoins embody a profound transformation of investment mechanisms. No more long financial validations before raising funds: thanks to blockchain, everything goes faster, and sometimes even too much.

In 2024, the total capitalization of memecoins jumped 500%going from 20 billion to 120 billion dollars. A staggering figure which demonstrates the attraction of investors for these atypical assets.

Why this success? On the one hand, the simplicity and speed offered by blockchain. On the other hand, a young community eager for innovation, for whom memecoins represent a fun and accessible form of wealth creation.

Key figures :

  • Growth of 500% in 2024;
  • 120 billion total capitalization;
  • Continued growth of animal-themed assets.
market-cap-memecoins-2024market-cap-memecoins-2024
Total memecoin market capitalization growth (in billion USD) in 2024. Source: CoinMarketCap, DWF Ventures: CoinMarketCap, DWF Ventures

As DWF Labs explains in his reportthese cryptos are no longer just jokes. They illustrate a fundamental change in the perception and distribution of economic value.

Crypto market share: Memecoins in ambush

The emergence of memecoins is accompanied by a redistribution of cards in the crypto market. Long disdained, these assets are now overshadowing classic altcoins. Animal themes and tokens inspired by internet trends dominate, but the innovation does not stop there.

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Andrei Grachev of DWF Labs predicts a future where artificial intelligence and crypto culture will merge to give rise to “agentic memecoins”.

According to the DWF Labs report, blockchain has helped boost the creation of digital assets. Result ? Memecoins become financial instruments in their own rightcapable of attracting institutional capital. Grachev adds:

“ The themes evolve, but the community spirit of memecoins remains a constant. »

cycle-life-memecoincycle-life-memecoin
Four phases of the memecoin creation lifecycle. Source: DWF Ventures

While some detractors see this as a threat to the credibility of the ecosystem, others applaud the audacity and creativity of these projects. Regardless, the market share of memecoins continues to climb, and nothing seems to be able to stop this rise, even if it means dethroning Bitcoin.

All in all, memecoins are deeply divisive. Major figures like Vitalik Buterin and CZ do not mince their words, denouncing their destructive potential for the crypto ecosystem. Yet their popularity continues unabated, confirming that these meme cryptos are here to stay, for better or worse.

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