Memecoins, a significant cultural phenomenon in the cryptocurrency space, are experiencing a notable surge in 2024. These digital assets have become a major topic of discussion due to their massive trading volume and potential for high returns. In the first quarter of 2024, memecoins accounted for 10% of total web traffic on Coingecko and achieved a weekly trade volume of $80 billion in early March. They have outperformed every other sector by 10 times in the same period. This growth, sparked by the Bull Run in 2021, has led to predictions that memecoins could become one of the largest sectors in crypto, potentially creating many millionaires and attracting mainstream attention. Additionally, memecoins are increasingly seen as the best expression of 'socialfi', forming important communities before most social platforms.