Memecoins have emerged as a significant trend in the cryptocurrency market, outperforming other crypto assets in 2024. These tokens, which often derive their value from community consensus and viral appeal, have sparked debates about their utility and sustainability. Despite skepticism, memecoins have seen substantial investment and interest, particularly on platforms like Solana. Retail investors are buying dog coins, which are expected to constitute 95 percent of their portfolio. Additionally, Bitcoin remains the best performing asset class in 2024, even though it experienced a weak third quarter, according to NYDIG.