index
Meme coins have been the top performers in the cryptocurrency market this year. According to Biteye data, the average daily return for these coins since January has been an incredible 1834%.
Experts reminded the community of the famous saying, “If you want to live in a palace, bet on memes.” This phrase is backed up by data. The sector will remain the most profitable in 2024. At its peak, the average return was 2405.1%.
Moreover, the profitability of meme coins is 8.6x higher than the second-largest sector, RWA, and 542.5x higher than the last-largest sector, DeFi. The analysts excluded L2 tokens from this comparison due to their price decline.
Secret to Success
Dozens of meme coins are launched every day, but not all of them are successful. Why is that? The answer is actually quite simple.
Analysts say the chances of a meme coin’s success essentially depend on several factors.
Popular memes and cool art.
This coin is more than just a funny image.
Team experience.
Effective community engagement.
Interestingly, choosing the right blockchain to launch your project also plays a significant role. One of the best options is Solana. On average, about 500,000 new coins are created on this network every month. This number has reached a monthly high due to the low barrier to entry and the ongoing hype surrounding meme tokens.
$APES – New PEPE?
Launched just a few days ago, the meme token Apes ($APES) has surged more than 1,300% in 24 hours.
There is talk in the crypto world that this little monkey will soon become a big hit. The community has already been crazy about dogs and frogs, but it is time for primates to get their attention again.
$APES is not just a fun meme coin. The project is building a wide ecosystem that includes games with well-developed storylines, powerful memes with viral potential, and other features! In addition, the $APES team is an experienced meme creator. They have already started several projects that have seen significant growth and raised over $100M!
Disclaimer: This is a sponsored article and is provided for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment or financial advice.
Investment Disclaimer
