Memecoins Gain 1,313% in the First Quarter

During the first three months of 2024, the cryptocurrency market showcased dynamic results across various narratives, with memecoins, real assets, and AI tokens leading in profitability.

Memecoin Surge

According to data from CoinGecko, memecoins achieved an impressive average return of 1,312% on the platform's top tokens. New entrants such as Brett (BRETT), BOOK OF MEME (BOME), and cat in a dogs world (MEW), launched around March 2024, saw exceptional success. Brett, in particular, stood out, recording a staggering 7,727% return by the end of the quarter compared to its launch price. Additionally, dogwifhat (WIF) also garnered attention, posting a 2,721% increase after going viral.

Real Assets and AI Tokens

The Real World Asset (RWA) narrative, focusing on tokens tied to physical assets or real-world utilities, ranked second with a 285% return. AI tokens also performed well, achieving an average return of 222%.

Other Narratives

Narratives related to decentralized finance (DeFi) and decentralized physical infrastructure networks (DePIN) experienced moderate gains. Meanwhile, Layer 1 (L1), GameFi, and Layer 2 (L2) narratives exhibited lower profitability.

In summary, the first quarter of 2024 brought significant changes to the cryptocurrency market, with memecoins leading among the most profitable narratives. Further analysis and observations are expected to provide more insight into the market dynamics in the coming months.