- Memecoins surged with mainstream interest, driving market cap to $127 billion.
- Platforms like Pump.fun fueled accessibility, recording 69,046 daily token launches globally.
The cryptocurrency market has witnessed remarkable growth following Donald Trump’s ascent as the 47th President of the United States.
The global crypto market cap has reached $3.3 trillion, marking a 3.41% uptick in just 24 hours. Bitcoin [BTC] stood out as a dominant force, surging to $98,757.67 and edging closer to the elusive $100K milestone, according to CoinMarketCap.
Yet, the spotlight is increasingly shifting toward memecoins.
Memecoins gaining momentum
Recent data from CoinGecko reveals the memecoin market has soared to $127 billion, reflecting a 6.3% jump in the same period, underscoring its growing influence in the crypto landscape.
Beyond the impressive market cap surge, memecoins are making waves in search trends. Google Trends data shows that searches for “memecoin” have skyrocketed, reaching a peak score of 100—the highest level in five years.
Source: Google Trends
This surge highlights that after multiple cycles of memecoin hype, the term is now resonating with a broader audience beyond niche crypto circles.
Both “meme coin” and “meme coins” searches are climbing, signaling a significant shift toward widespread interest in this once-novel segment of the cryptocurrency market.
The year 2024 and the memecoin market
For those unaware, the memecoin landscape has evolved far beyond its 2021 peak, with search trends now surpassing those of the NFT-driven bull market.
Unlike earlier cycles that relied heavily on influencers and faced accessibility challenges, today’s memecoins are propelled by streamlined infrastructure and an influx of mainstream interest.
Platforms like Binance, Coinbase, and Robinhood have legitimized tokens like Pepe [PEPE] and Shiba Inu [SHIB], fueling accessibility.
Thus, with valuations often soaring to $500M-$1B, memecoins now thrive on rapid community-driven growth, attracting traders focused on opportunities rather than technical blockchain details.
Top memecoin price analysis
That being said, AMBCrypto’s deeper analysis of top-performing memecoins underscores their significant role in the market’s remarkable surge.
Dogecoin [DOGE] leads the charge, contributing nearly half of the memecoin market cap with a staggering valuation of $58.25 billion.
Trading at $0.3965, at press time, DOGE has posted an impressive 187.49% monthly rally, cementing its dominance.
SHIB, often dubbed the “DOGE-killer,” has also gained traction, rising 39.35% over the past month to $0.00002499, at the time of writing.
Despite a minor daily dip, PEPE’s price was up by 9.52% in 24 hours and showcased a strong monthly growth of 114.78%, solidifying its standing in the rapidly evolving memecoin landscape.
How is Pump.fun acting as a catalyst?
Besides this growth, the surge in meme token creation, driven by platforms like Pump.fun, highlights the growing accessibility and mainstream appeal of this trend.
With a record 69,046 daily token launches and $4.39M in daily fees, Pump.fun has become a hub for mass participation, attracting millions of users globally, especially younger audiences.
Its rapid rise in popularity, fueled by integrations with social media trends like TikTok, showcases a shift in meme token culture from niche crypto insider activity to widespread engagement.
However, the space remains volatile, with a majority of tokens failing to gain traction and risks of significant losses for overzealous investors.
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