Memecoins Outshine Crypto Giants: A 103% ROI Shake-Up

• The memecoins have outperformed the broader cryptocurrency market significantly, posting average returns of 103% over the past 30 days.
• This is six times higher than the crypto market’s average return of 16.1%.
• Dogecoin (DOGE) and Pepe (PEPE) emerged as the standout performers, with gains of 196.1% and 115%, respectively.

In a surprising turn of events, memecoins have outperformed the broader cryptocurrency market significantly, posting average returns of 103% over the past 30 days. This remarkable performance is over six times higher than the crypto market’s average return of 16.1%, as reported by data analytics firm Artemis.

Top Performers in the Memecoin Market

Among the 19 memecoins tracked, Dogecoin (DOGE) and Pepe (PEPE) emerged as the standout performers, with gains of 196.1% and 115%, respectively. Additionally, PEPE’s “beta play,” PepeCoin, also saw impressive growth, rising by 121.1% during this period. Other notable memecoins include:

Bonk (BONK): +70.2%

Brett (BRETT): +63.5%

However, not all memecoins fared well; many associated with the recent U.S. elections experienced significant declines. For instance, MAGA (TRUMP) plummeted by 72% in the same timeframe.

Also Read: Shrub crypto (SHRUB) gained 2900% over the past 7 days. Here’s why

According to Kaito AI, memecoins have captured nearly 24% of investors’ attention as of November 14, with one in four crypto investors discussing them on social media platform X. This surge in interest highlights the growing influence of memecoins within the cryptocurrency landscape.

Comparative Performance Across Crypto Sectors

When evaluating profitability across various sectors, only nine out of the 22 tracked sectors outperformed the market’s average return. Notably:

The “store of value” sector, which includes tokens like Dash (DASH) and Litecoin (LTC), recorded an average gain of 48.2%.

First-generation blockchain tokens focused on smart contracts, such as Cardano (ADA) and Ethereum Classic (ETC), followed closely with gains of 47.1%.

In contrast, sectors such as AI-related tokens and social platforms saw negative performance, with declines of 1.6% and 4.6%, respectively. The data availability sector was particularly hard-hit, crashing by 14.6%.

Conclusion

The recent performance of memecoins underscores their resilience and appeal in a volatile market environment. As they continue to capture investor interest and generate substantial returns, it is clear that memecoins are not just a passing trend but a significant component of the cryptocurrency ecosystem.

Investors looking to capitalize on this momentum should keep a close eye on market developments surrounding memecoins while remaining aware of the inherent risks associated with cryptocurrency investments.