An authentic report of CoinGecko performed by their research has revealed that meme cash have dominated the primary quarter of 2024 with the meteoric rise in the entire crypto market. Memecoins have emerged as excellent performers, dominating different tokens with a staggering common return of 1312.6%.
Nonetheless, we’ve got all seen the craze over meme cash. Let’s take a deeper look into the report –
The Supremacy of Memecoins
CoinGecko’s report highlighted the unprecedented success of memecoins, with a jaw-dropping common return of 1312.6% in Q1 2024. Many new tokens like dogwifhat, BOOK OF MEME, BRETT, and Cat in a Canine’s World have proven mind-baffling efficiency and crypto merchants additionally grabbed wonderful earnings.
BRETT led the pack with an astonishing 7727.6% acquire since its launch, carefully adopted by dogwifhat (WIF) with a exceptional 2721.2% enhance quarter-to-date (QTD).
Altogether, it boosted Memecoin’s dominance within the first quarter of 2024.
The supremacy of memecoins was evident when in comparison with different crypto narratives. As per the CoinGecko report, memecoins outperformed RWA, the second most worthwhile narrative, by a staggering 4.6 occasions.
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The Runners Up
Nonetheless, Actual-World Belongings confirmed 285.6% returns in Q1. The award for 2 finest and top-performing RWAs goes to MANTRA and TokenFi. RWAs have been believed to carry the title of probably the most worthwhile narrative for a short while earlier than they have been overtaken by memecoins and AI tokens. showcasing the varied alternatives inside the cryptocurrency market.
Coming to AI tokens, the narrative has captured to file of a staggering three-digit return at 222.0%. AIOZ Community and Fetch.ai are among the many finest AI Tokens with substantial progress and growth. Even the bottom gainer within the AI class, OriginTrail, has earned a good 74.9% return throughout Q1 2024.
Nevertheless, the least worthwhile class in Q1 goes to Layer 2 narrative, which was surpassed by memecoins’ 33.3 occasions increased returns.
The dominance of memecoins in Q1 2024 has typically been termed as a ‘bizarre bull market’ by analysts since they’ve even surpassed Bitcoin and different prime crypto cash within the variety of positive factors in a brief time period. Whereas memecoins stole the present with skyrocketing returns, RWAs and AI Tokens have additionally demonstrated vital progress potential.
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