Meme coins experienced a 500% surge in 2024 due to social engagement and cultural relevance.

From Investing.com

January 2, 2025 12:26:23 PM:

Meme coins saw a surge in popularity during the 2024/2025 bull run, with their market capitalization jumping from $20 billion to over $120 billion in a year, according to DWF Labs. These digital assets rely on community engagement and cultural relevance, appealing to younger investors prioritizing creativity and collective identity.

Platforms like pump.fun have streamlined the process of deploying meme coins, making it quick and cost-effective. Community building on social platforms like X, Telegram, and Discord is crucial for generating momentum and driving trading activity. Decentralized exchanges and automated market makers facilitate easy trading, fueling the growth of meme coins.

The lifecycle of meme coins involves deployment, community building, and value creation, with a focus on grassroots-driven approaches rather than institutional support. DWF Labs notes a shift towards blending meme culture with utility in newer tokens, catering to both retail and institutional investors. Balancing playful origins with sustainable development will be a future challenge for the meme coin sector.

Read more at Investing.com: Meme coins surged 500% in 2024 as social capital eclipses traditional metrics By Investing.com