In Q1 2024, memecoins saw a significant surge in the cryptocurrency market, with the top market capitalization tokens achieving a yearly return of 1,312.6%.Â
The memecoin sector experienced highs and lows, with BRETT and Dogwifhat (WIF) seeing massive returns of 7,727.6% and 2,721.2%, respectively.
Such growth has spurred the market capitalization figure of meme-coins up to $60.93 billion which is equivalent to a 179.9% rise.
The rise in memecoin values corresponds with a surge in the interest of investors, together with the fact that Google searches for memecoins in March, coincidentally. Among all the crypto narratives, memecoin and tokenized real-world assets (RWA) and layer 2 networks backup memecoin with a performance gap that is significantly broad.
The sudden Bitcoin price growth, which soared to high prices in March, motivated both individual investors and institutional investors to prefer cryptocurrency, including memcoins.
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