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Memecoins have emerged as a popular form of speculation in the crypto market, surpassing NFTs and other investment options. Industry experts predict memecoins to shape the future of crypto protocols. Memecoins have shown significant growth and profitability, leading to a shift in investment flows towards narrative-driven assets like DeFi, AI, and NFTs. Reports indicate that memecoins have outperformed real-world assets and Layer 2 narratives in terms of profitability during the first quarter of 2024.
memecoins are a significantly better way to speculate on culture/memes than pfps. nfts will largely find their footing in less meme-centric verticals (e.g. RWAs, gaming, social, etc).
According to the report, memecoins recorded the highest returns of 1,312.6% on average across the top tokens by market capitalization. Memecoins that were launched in March made it to the top 10 largest memecoins list by market value by the end of the quarter, including Book of…
🚨 BREAKING: According to report by @coingecko, Memecoins were by far the most profitable crypto narrative in Q1 2024, including the newly launched Solana Memecoins $BOME (@Darkfarms1) and $MEW. Notably, Memecoins outperformed RWA and Layer 2 narratives. https://t.co/eQv9lpygWj