CandleFocus A basket of prominent meme coins outperformed Bitcoin (BTC) and S&P500 in 2024
2024-10-22
Author: Content Editor
In 2024, meme tokens emerged as a strong attractor of activity, outperforming both the S&P500 and Bitcoin (BTC). A basket of 19 prominent meme tokens significantly surpassed Bitcoin's performance, with meme tokens consistently leading even during weaker months. These tokens are more aligned with BTC and provide a lower entry point for traders. Meme tokens saw net gains of over 183% in 2024, with some tokens yielding up to 338% gains in a single month. However, meme tokens are highly volatile and can erase gains quickly. The Artemis basket of stablecoins includes popular meme tokens like Dogecoin (DOGE) but also includes newer tokens like Shiba Inu (SHIB) and Floki (FLOKI), which aim to build utility and work as DeFi and gaming ecosystems. Meme tokens are not considered a safe bet compared to more liquid assets, and involvement with meme tokens is becoming a must for all crypto holders as whales and market makers build positions. Despite the risks, meme tokens are expected to continue growing and potentially outperforming other assets.
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