CandleFocus Memes will increase their share of crypto market size in the coming years
2024-11-05
Author: Content Editor
The article discusses the growing influence of meme tokens in the cryptocurrency market. Research suggests that meme tokens will continue to increase their share of the market, with a projected valuation between $50B and $60B by the end of 2024. Meme tokens have gone through different periods, with the most recent period highlighting the rise of purely image-based tokens driven by hype. Meme tokens have their own categories and are closely watched for the formation of cults or low-quality tokens. The daily turnover of meme tokens surpasses other categories, indicating high trading activity. Despite their volatility, meme tokens have the ability to quickly accrue market value. The success rate of new meme tokens in building a market cap above $1M is low, but even the process of identifying potential rising stars creates demand. While newer meme tokens may lag in adoption and listings, they outperform older meme generations in the short term. Within the crypto space, meme tokens have outperformed other selections and currently dominate the top-performing assets. The overall hype surrounding meme tokens also boosts older, more liquid assets.
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