TL; DR
Full story
Memo coins.
Memecoins are the most profitable story of 2024.
The sector (if you would call it that?) recorded an average return of over 1300% on the top tokens, as measured by market capitalization.
And it has a pretty solid lead over the competition:
According to CoinGecko analyst Lim Yu Qian, the memecoin story was 4.6 times more profitable than the next best-performing crypto story of tokenized real-world assets (also called RWAs).
The best part?
Because these transactions take place on public blockchains, all these crazy bets are completely traceable. For example:
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One investor (/gambler) turned $13,000 into just under $2 million in just under an hour after purchasing the MOEW token.
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While someone else turns $8.3k into – get this – $6.5 million, with a well-timed purchase of APU tokens.
Here’s the strange part:
This kind of high-octane gambling behavior is not out of place in the crypto space…
But this usually only happens when the market has entered the ‘mania’ phase.
(And right now we’re still a long way from that point).
Maybe all those Twitter pundits were right – maybe this time is different?