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    Home ยป Meme Coins Rule in 2024 Outshining Bitcoin and SP 500
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    Meme Coins Rule in 2024 Outshining Bitcoin and SP 500

    By adminOct. 23, 2024No Comments2 Mins Read
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    Meme Coins Rule in 2024 Outshining Bitcoin and SP 500
    Meme Coins Rule in 2024 Outshining Bitcoin and SP 500
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    Meme coins showed a great performance in 2024, with a group of 19 established meme tokens outperforming both the S&P 500 and Bitcoin (BTC).
    Since February, the meme token index, according to recent
    data
    , consistently surpassed
    Bitcoin
    and retained its lead even during weaker market conditions, achieving over 183% net gains throughout the year.


    These tokens have attracted investors looking for equitable distribution and lower insider influence, providing low entry points for diversified investments. In March, meme tokens reached peak gains of 338%.
    Despite their volatility, which can lead to rapid price drops, participation in meme tokens has become essential for crypto holders.
    READ MORE:


    Ripple CTO Acknowledges Uncertainty in Predicting Future XRP
    The Artemis index includes tokens like Dogecoin (
    DOGE
    ), Shiba Inu (
    SHIB
    ), and newer entrants like
    WIF
    and
    POPCAT
    , with some riskier tokens outperforming the index. While meme tokens can deliver quick speculative gains, they are less stable than more liquid assets.
    The meme token market is valued at $57 billion, with a daily trading volume of $5.85 billion, driven by decentralized trading platforms like Raydium. The ongoing strength of meme tokens suggests they will continue to play a significant role in the crypto landscape.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleStruggles Persist for Spot Ethereum ETFs Amid Market Challenges
    Next Article Innovative Private Equity Firm Launches 1 Billion Tokenized Fund Leveraging XRP Ledger

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