Analysis: 2024 may be the breakout year for MEME coins, with WIF and PEEP having the highest growth rates

Recently the crypto market has experienced a roller coaster ride of plunges and rises. Golden Finance analyzed the year-to-date performance of the top 50 cryptocurrencies by market capitalization.

60% of the tokens have erased their gains this year; the highest gainers are the two major MEME tokens, WIF and PEEP, and 2024 may be the year of MEME coins' explosion; TON is the best-performing token among all public chain tokens, with an increase of 150.17% compared to the beginning of the year; in addition, BNB, SOL, LEO, and KAS have increased by nearly 50%.

There are 29 tokens whose prices are lower than at the beginning of the year, with ARB, OP, MATIC, INJ, and ATOM among the top five losers. the main factors affecting the decline of the abovementioned tokens are token unlocking, token inflation, and the poor utility of tokens.

ETH has been underperforming overall due to recent sell-offs by institutions, market makers, and large giant whales.

FY2024 was a breakout year for MEME tokens, with the top three gainers all being MEME tokens, and the Trump concept token on Solana gaining even more.

Through the consolidation of the top 50 tokens of this year's performance, in addition to the current overall market by the substantial pullback, the poor performance of the tokens have their own factors that can not be ignored, such as large amount of unlocking, inflation, ecological performance is not good, as well as the utility of the token function of the weak, etc., and the MEME tokens have a high amplitude, high amplitude of the characteristics of the investor in the fight for returns at the same time, should not be ignored the related risks.