Coingecko released a report showing a diverse and fast-changing landscape for crypto narratives in 2024, with Meme coins and AI narratives emerging as the biggest winners. Meanwhile, RWA, DePIN, and specific ecosystems such as Solana and Base are on the rise.
Coingecko recently released a new figure that ranked the popularity of crypto narratives this year. Meme coins have been the absolute center of attention in the market this year, capturing 30.67% of investor attention, and the top three most popular coins according to the report are Meme, AI, and RWA, and in this article, we’ll take a look at the data behind this report.
Meme Coins: The Top Narrative Dominating the Markets
The Meme Coin Narrative is ranked #1 in 2024 with 14.36% of the market, up 6.04 percentage points from 8.32% last year, indicating that investor enthusiasm for this asset continues to grow.
It’s not just the mainstream Meme coin narrative that’s attracting a lot of attention, as there are as many as 25 sub-trends, including Solana Meme Coin (7.65%, ranked 4th), Base Meme Coin (2.13%, ranked 11th), AI Meme Coin (1.49%, ranked 15th), and Cat-themed Meme Coin (1.19%, ranked 16th). From dog coins to cat coins to AI-themed Meme coins, investor interest in these high-risk, high-return assets is growing.
Artificial Intelligence (AI) comes in second
AI narratives ranked second with 15.67% of total attention, with overall AI narratives accounting for 12.58%. Although up 1.26 percentage points from last year’s 11.32%, AI still lags behind Meme coins in terms of popularity.
It is worth noting that AI sub-narratives such as AI agents (1.17%, ranked 17th) also managed to break into the top 20, showing that the market continues to be optimistic about the future development of AI technology.
RWA and DePIN: Potential Narratives on the Rise
Real World Assets (RWA) and Decentralized Physical Infrastructure Networks (DePIN) narratives will see a significant rise in popularity in 2024. The RWA narrative increased from 6.48% to 8.64% of attention last year, jumping from 6th to 3rd place.
DePIN jumped from 13th to 8th, with a 1.56 percentage point increase in interest. These figures reflect the market’s growing interest in on-chain and physical world integration scenarios.
Solana and the Base Ecosystem: Growing Market Share
The Solana narrative attracts 14.30% of the market’s attention in 2024, approaching the AI narrative as a key player in the crypto market. The combination of Solana Meme Coin (7.65%) and Solana Ecosystem (5.78%) has solidified its position. Base Ecosystem, on the other hand, ranked 9th with 2.68%, while Base Meme Coin’s hotness added to its overall share of 4.87%.
Game Narratives and Other Trends
Meanwhile, Game Narrative has lost some of its heat in 2024, with its market share falling to 3.72% from 10.49% last year. In contrast, infrastructure narratives such as Layer 1 (3.51%), Layer 2 (2.25%), and DeFi (1.87%) remain relatively stable.
2023: AI Narratives Dominate, Meme Coin Potential Emerges
In 2023, the cryptocurrency market’s focus will be on the Artificial Intelligence (AI) narrative, which tops the list with 11.32% of the market’s attention, demonstrating the high level of investor anticipation for a technology-driven future. Meanwhile, the Meme Coin Narrative is only ranked 3rd (8.32%), but it is starting to gain traction, laying the groundwork for an explosion in 2024.
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