A recent study from CoinGecko revealed that meme coins were the most lucrative crypto category in the first quarter of 2024, with the top ten tokens in this sector delivering a staggering 1312.6% in returns – over thirteen times the average!

Additionally, the report reveals that among the top ten memecoins based on market capitalization, three recently debuted in March: Brett (BRETT), Book of Meme (BOME), and Cat in a Dog’s World (MEW).

BRETT provided the highest returns with 7727.6%. The second coin with the largest returns is dogwifhat (WIF), Solana’s first dog-themed memecoin, which surged 2721.2% quarter-to-date (QTD). The report suggested that WIF is responsible for sparking the “memecoin frenzy.”

With a solid second place showing, the Real-World Asset (RWA) sector averaged returns amounting to 285% in recent times. The allure of RWAs has gained significant traction recently, spearheaded by innovations such as Ondo Finance (ONDO), an advanced DeFi platform dedicated to tokenizing bonds and US treasuries.

Meme Coins Dominating The Industry

The meme coin market, which has been delivering impressive results, appears to be pausing for a breather. At present, it’s experiencing a 3% drop compared to last week. Major tokens in the market cap ranking have also seen declines of over 10% on a weekly basis. This trend aligns with the prevailing mood in the crypto sector following Bitcoin‘s dip below $65k earlier this week.

Despite the recent excitement surrounding new meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) continue to garner attention from some crypto analysts.

Some believe that DOGE‘s price, currently at $0.22, may soon experience a significant surge in value, similar to a parabolic curve, much like it did back in November 2021 when it last reached this price point.

Currently, SHIB garners frequent news attention due to the progress being made on its layer-2 scaling solution, Shibarium.

Last week of March saw an intriguing uptick as crypto investment funds attracted approximately $862 million in fresh investments.

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2024-04-04 14:16