The cryptocurrency market roared back into momentum in 2024, with meme coins emerging as the hottest commodities in the bull cycle.
What happened: Meme coins, inspired by internet memes, popular animated characters, and trends, netted massive returns to their holders in the year.
Solana SOL/USD-based SPX6900 was the most successful coin, skyrocketing a whopping 9695% year-to-date.
SPX is basically a parody coin 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 behind was the feline-themed cryptocurrency, Popcat, which gained 9374% since 2024 began. Like SPX6900, POPCAT was developed on the Solana blockchain.
Ethereum ETH/USD–based Mog Coin bagged the third spot, exploding 4746% over the year.
| Cryptocurrency | YTD Gains +/- | Price (Recorded at 11:45 p.m. EDT) |
| SPX6900 (SPX) | +9695% | $0.8135 |
| Popcat (POPCAT) | +9374% | $0.7682 |
| Mog Coin (MOG) | +4746% | $0.000002423 |
See Also: North Korean Hackers’ Suspected Presence Triggers Over $500 Million In Outflows From Crypto Exchange
Interestingly, all the top three meme coins had a market capitalization of less than $1 billion, reflecting the interest shown in lesser-known cryptocurrencies.
That said, market heavyweights didn't disappoint either. The biggest meme coin by market capitalization, Dogecoin DOGE/USD, soared 263% year-to-date, while Shiba Inu SHIB/USD, another popular dog-themed token, rose 115%.
Frog-themed Pepe PEPE/USD was the best-performing large-cap meme coin, racking up gains of 1192% since 2024 began.
Solana-based dogwifhat WIF/USD also remained red hot, surging 1158% year-to-date.
Overall, around nine tokens logged gains of over 1000% during the year.
These astronomical gains refocused attention on the wealth-multiplying potential of meme currencies, many of which notorious for their excessive volatility and low utility.
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