The Cryptocurrency market regained momentum in 2024, with meme cryptocurrencies emerging as the most popular financial instruments in the bull cycle.
What happened
Meme cryptocurrencies, inspired by internet memes, popular animated characters and trends, generated huge returns to their holders during the year.
SPX6900based on Solarium (CRYPTO: SOL) was the most successful cryptocurrency, up 9,695% so far this year.
SPX is basically a parody cryptocurrency that calls for the creation of a new stock market index called SPX6900, challenging the hegemony of the S&P 500. It has a maximum supply of 1 billion tokens.
Not far from SPX6900 is the feline-themed cryptocurrency popcatwhich has gained 9,374% since 2024. Like SPX6900, POPCAT was developed on the Solana Blockchain.
Mog Coinbased on Ethereum (CRYPTO: ETH), is placed in third place, with an increase of 4,746% during the year.
| Cryptocurrency | YTD Earnings +/- | Price (recorded at 23:45 EDT) |
| SPX6900 (SPX) | +9.695% | $0.8135 |
| popcat (POPCAT) | +9.374% | $0.7682 |
| Mog Coin (MOG) | +4,746% | $0.000002423 |
Read also: Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market
Why is it important
Interestingly, the three most popular meme cryptocurrencies had a market capitalization of less than $1 billion, reflecting the interest shown in lesser-known cryptocurrencies.
That being said, the market giants did not disappoint either. The largest meme cryptocurrency by market cap, Dogecoin (CRYPTO: DOGE), has soared 263% so far this year, while Shiba Inu (CRYPTO:SHIB), another popular dog token, surged 115%.
Pepea frog-themed cryptocurrency (CRYPTO: PEPE), was the best-returning large-cap meme cryptocurrency, up 1,192% since 2024.
dogwifhatbased on Solarium (CRYPTO: WIF), also remained in the red, with an increase of 1,158% so far this year.
Overall, around nine tokens recorded gains of over 1,000% during the year.
These astronomical gains once again focused attention on the wealth-multiplying potential of meme cryptocurrencies, many of which are known for their excessive volatility and low utility.
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