Memecoins Outshine Crypto Market with 103% Gains in a Month

Over the past month, memecoins have outperformed the broader cryptocurrency market with an average return of 103%, far exceeding the market’s 16.1%, according to Artemis.

Dogecoin (DOGE) and Pepe (PEPE) led the surge, gaining 196.1% and 115%, while PepeCoin rose 121.1%. Solana-based Bonk (BONK) and Base’s Brett (BRETT) also saw significant gains.

In contrast, election-related memecoins like MAGA (TRUMP) tumbled, with a 72% loss.

~50% of all narrative mindshare is AI & Memes. pic.twitter.com/MGmNKxIphQ

— Kaito AI 🌊 (@_kaitoai) November 14, 2024

Insights from Kaito AI showed memecoins dominating 24% of crypto discussions on X. Meanwhile, the “store of value” sector, including Dash (DASH) and Litecoin (LTC), posted a 48.2% average return, followed by smart contract-focused blockchains like Cardano (ADA) with 47.1%. Solana (SOL) and Sui (SUI) managed gains of 24.3%, slightly above the market average.

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Other sectors such as oracles, DEXs, and DeFi also outperformed, while AI and social tokens fell 1.6% and 4.6%, respectively. The worst performance came from the data availability sector, which dropped 14.6%.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.