Memecoins Network Rally: Who’s Winning (November 2024)
In November 2024, memecoins hit a jaw-dropping $127 billion market cap—proving they’re more than just a passing trend. But which networks are truly cashing in?
Top Trading Networks: Who’s Got the Most Juice?
Ethereum (ETH): The OG Boss
- Market Share: 26.7% of all memecoins traded.
- Monthly Trade Volume: ~$28.4 billion (cha-ching!).
- Fan Favorites: Shiba Inu (SHIB), PepeCoin (PEPE).
- Why It’s Cool: It’s been around forever (crypto-wise), with tons of developers and users.
- The Catch: Gas fees. Ouch. During peak trading, it can cost more to send your meme than to buy it.
Solana Network (SOL): The Speed Demon
- Market Share: 60% of memecoins listed on Binance. That’s massive.
- Monthly Trade Volume: ~$15.7 billion—up fast in just six months.
- Big Names: SolPepe, Laika (yes, a space dog coin).
- What’s Good: Super low fees, ultra-fast transactions. Perfect for traders who hate waiting.
- What’s Not: Not as many users as Ethereum yet. Feels a bit niche.
Binance Smart Chain (BSC): The People’s Champ
- Market Share: Home to tons of up-and-comers.
- Monthly Trade Volume: ~$9.2 billion.
- Top Dogs: BabyDoge, Floki Inu.
- Why It Rocks: Cheap and easy. Plus, Binance’s ecosystem gives coins a huge leg up.
- Uh-oh: People worry it’s too centralized. Not everyone’s into that vibe.
Dogecoin
The first-ever memecoin, Dogecoin, started as a joke in 2013 but now boasts a market cap 62.8 Billion, larger than Ford Motor Company.
Influencers: The Memecoin Movers and Shakers
Elon Musk: The Meme King
When Elon Musk tweets, memecoins move. Seriously. Just a single “🐕” from Musk sent Dogecoin up 18% in a matter of hours. His tweets are like signals to the crypto world—everyone listens, and prices spike. It’s not just about fun; it’s about powerful influence.
Other Big Names
Musk isn’t the only influencer in the game. Billionaire Mark Cuban backs Dogecoin, and crypto YouTubers like BitBoy Crypto and Crypto Mason regularly hype up new memecoins to their millions of followers. These guys have huge audiences, and their endorsements can spark a buying frenzy. Andrew Tate started recently promoting memecoin G also a dog.
Reddit: The Memecoin’s Best Friend
Memecoins are made for Reddit. Communities like r/Dogecoin and r/cryptocurrency are where the hype builds, where memes are born, and where the next big coin could go viral. Look at Shiba Inu—its SHIBArmy made it explode by organizing campaigns and flooding Twitter with hashtags like #SHIB.
The Dark Side
Not all influencer-driven hype is healthy. There’s a real risk of pump-and-dump schemes, where coins get hyped up just to be sold off, leaving investors stuck with bags of worthless tokens. And with FOMO kicking in, prices can skyrocket… and crash just as quickly. Always watch out for the bubble!
Where It’s Going
As memecoins grow, influencers might start focusing on coins with actual utility—DeFi tools, gaming features, you name it. We could also see more collaborations with brands and more real use cases. But with regulators eyeing influencers, there might be some new rules to play by soon.
My honest opinion buy before it’s hyped (if you can) sell when it’s hyped. you can’t and don’t have to hold memecoins. when you see whole twitter talking about memecoin, look at the chart it must be parabolic, time to sell, or set your own rules: like 100% and I’m selling and stick with it.
Global Memecoin Trends
United States
- Elon Musk’s tweets keep memecoin buzzing.
- The SEC’s regulatory scrutiny adds a layer of uncertainty.
Asia
- Booming markets in Japan, South Korea, and China.
- Hong Kong’s crypto-friendly policies are accelerating adoption.
Europe
- Growing interest, but stricter EU regulations may slow growth.
Why Are Memecoins a Big Deal Anyway?
- Gateway Drug to Crypto: Honestly, these things are like the “starter pack” for new crypto users. They’re fun, easy, and grab attention.
- Community Power: Ever seen a meme go viral? That’s what memecoin do—communities hype them up like crazy.
- More Than Hype (Kinda): Projects like Shiba Inu are getting serious with stuff like DeFi tools and real-world payments.
Where’s This All Going?
- Regulations: More rules are coming. That might calm things down—or kill the buzz.
- Level-Up Time: Memecoin could team up with gaming or DeFi apps to actually do something useful.
- Survival of the Fittest: Some coins will crash hard, but the smart ones? They’ll stick around.
Final Thoughts
So, memecoins aren’t just internet jokes anymore—they’re legit. Ethereum, Solana, and Binance Smart Chain are the kings of this crazy kingdom. But whether they’re the next big thing or just a passing phase? Only time will tell.
Honestly? I’m betting some of these will evolve and surprise us all. Just keep an eye on the gas fees (and maybe don’t spend your rent money on them).
What’s your take? Are memecoins here to stay, or are we all just chasing memes?
Sources- Tradingview, tradingview
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