-
Bitcoin and Ethereum have jumped by over 50% this year.
-
Meme coins like Floki, Pepe, and Book of Meme have done much better.
-
Memeinator is one of the fastest-growing names in the industry.
Many meme coins are doing better than big cryptocurrencies like Bitcoin, Ethereum, and Ripple in 2024. Bitcoin and Ethereum have jumped by more than 50% this year while Ripple has dropped by over 20%.
Meme coins are thriving
On the other hand, meme tokens like Floki, Book of Meme, and Pepe have done much better. Floki has soared by over 450% this year while Pepe has jumped by over 700% in the same period.
The same is happening among other meme coins like dogwifhat, Bonk, and Book of Meme, which have all doubled this year. As a result, all meme coins tracked by CoinGecko and CoinMarketCap have gained a market cap of over $60 billion, making them bigger than well-known companies like Lazard, General Motors, Ford, and Stellantis.
This trend could continue as more traders seek refuge in meme coins and celeb-themed tokens. For example, earlier this week, Rapper Iggy Azalea’s MOTHER token gained a market cap of over $300 million. It was then passed by DADDY, the new token being promoted by Andrew Tate, the popular provocateur.
Meme coins do better than big coins like Bitcoin for two main reasons. First, they tend to be driven by hype and momentum. Second, unlike Bitcoin, these tokens are easy to manipulate since most of them are usually held by insiders.
Third, meme coins trade for lower notional value than Bitcoin. While Bitcoin was trading at $67,000 on Saturday, Memeinator was going for $0.01820 while tokens like Pepe and Minu were going for much lower.
As a result, traders argue that buying cheaper meme coins will always generate a better return than investing in bigger coins. For example, while it is easy for Pepe to double, it takes longer for Bitcoin to do the same.
Memeinator to be in focus
Meanwhile, many crypto traders are now focusing on Memeinator, one of the fastest-growing meme coins.
The token, which concluded its token sale recently, has already achieved listings by some of the leading exchanges in the industry like Uniswap and MEXC. The developers are hoping to get listings by other exchanges in the coming months.
Memeinator is a cryptocurrency that seeks to take advantage of several key themes in the industry. It is aiming to join the meme coin craze that is spreading in the crypto sector.
In addition to that, the developers hope that it will benefit from the artificial intelligence theme that has become the biggest one globally. Apple launched its Apple Intelligence suite of products while Mistral AI raised over $600 million from investors.
Further, Memeinator aims to be a leading player in the gaming industry. They are now building the Meme Warfare game that will reward users for winning. You can learn more about Memeinator here.
