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Memecoins.
Memecoins are probably the most worthwhile narrative of 2024.
The sector (for those who’d name it that?) registered a median return of over 1300% throughout the highest tokens by market cap.
And it has a fairly strong lead on the competitors:
Based on CoinGecko analyst Lim Yu Qian, the memecoin narrative was 4.6 occasions extra worthwhile than the following best-performing crypto narrative of tokenized real-world belongings (aka RWAs).
The very best half?
As a result of these trades are being made on public blockchains, all of those loopy bets are absolutely trackable. For instance:
One investor (/gambler) turned $13k into over $2M in just below one hour, after shopping for into the MOEW token.
Whereas another person turned $8.3k into — get this — $6.5M, with a well-timed buy of APU tokens.
Right here’s the unusual half:
This sort of high-octane-gambling conduct isn’t misplaced within the crypto house…
But it surely often solely takes maintain when the market has entered its ‘mania’ section.
(And proper now, we’re removed from that time).
Perhaps all these Twitter pundits have been proper — possibly this time is completely different?