- Memecoins surged in popular interest, raising their market capitalization to $127 billion.
- Platforms like Pump.fun ensured accessibility, recording 69,046 daily token launches worldwide.
The cryptocurrency market has witnessed remarkable growth following the rise of Donald Trump as the 47th President of the United States.
The global crypto market capitalization has reached $3.3 trillion, marking an increase of 3.41% in just 24 hours. Bitcoin [BTC] stood out as a dominant force, rising to $98,757.67 and closing in on the elusive $100,000 milestone, according to CoinMarketCap.
Yet the spotlight is increasingly shifting to memecoins.
Memecoins are gaining momentum
Recent data from CoinGecko shows that the memecoin market has risen to $127 billion, reflecting a jump of 6.3% over the same period, underscoring its growing influence in the crypto landscape.
In addition to the impressive increase in market capitalization, memecoins are shaking up search trends. GoogleTrends Data shows that searches for “memecoin” have skyrocketed, reaching a peak score of 100 – the highest level in five years.
Source: Google Trends
This wave highlights that, after several cycles of memecoin hype, the term is now resonating with a broader audience beyond niche crypto circles.
Both searches for “meme coins” and “meme coins” are on the rise, signaling a significant shift toward widespread interest in this once-new segment of the cryptocurrency market.
The year 2024 and the memecoin market
For those unaware, the memecoin landscape has evolved well past its 2021 peak, with search trends now surpassing those of the NFT-driven bull market.
Unlike previous 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]which promotes accessibility.
With valuations often rising to $500 million to $1 billion, memecoins now thrive on rapid, community-driven growth, attracting traders who focus on opportunities rather than blockchain technical details.
Best memecoin price analysis
That said, AMBCrypto’s deeper analysis of the top-performing memecoins underlines their important role in the market’s remarkable rise.
Dogecoin [DOGE] leads the charge, contributing nearly half of the market cap for memecoin, with a staggering valuation of $58.25 billion.
Trading at $0.3965, at the time of writing, DOGE has posted an impressive monthly rally of 187.49%, cementing its dominance.
SHIBoften called the “DOGE killer,” has also gained popularity, rising 39.35% over the past month to $0.00002499, at the time of writing.
Despite a small daily dip, PEPEs The price rose 9.52% in 24 hours and showed strong monthly growth of 114.78%, solidifying its position in the rapidly evolving memecoin landscape.
How does Pump.fun act as a catalyst?
In addition to this growth, the increase 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 $4.39 million in daily fees, Pump.fun has become a hub for mass participation, attracting millions of users worldwide, especially younger audiences.
The rapid rise in popularity, fueled by integrations with social media trends like TikTok, shows 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 risking significant losses for overzealous investors.