Coin Edition -
- The top ten meme coins exhibited an average return of 1,312.6% in Q1 2024.
- Meme coined BRETT recorded 7,727.6% compared to its launch price.
- RWA tokens saw an average gain of 286% in the year’s first half.
Prominent market tracker CoinGecko has highlighted the eight crypto narratives showing the most promise for investors amid this bullish market. Meme coins topped the list, with the most exceptional profitability score for the first quarter of 2024.
In particular, the report revealed that the top ten meme coins exhibited an average return of 1,312.6% between January 1 and March 31.
Top 8 Most Profitable Crypto Narratives in 20241. Memecoin – 1313%2. RWA – 286%3. AI – 222%4. DeFi – 99%5. DePIN – 81%6. Layer 1 – 70%7. Gaming – 64%8. Layer 2 – 39%— CoinGecko (@coingecko) April 3, 2024
CoinGecko underscored that among the top-performing meme coins, three newly launched tokens emerged around March. It includes Brett (BRETT), BOOK OF MEME (BOME), and “cat in a dogs world” (MEW).
By the end of Q1, BRETT boasted the highest returns, reaching 7,727.6% compared to its launch price. Solana’s Dogwifhat (WIF) followed closely with a quarter-to-date (QTD) gain of 2,721%. CoinGecko noted that WIF experienced viral popularity and ignited the ongoing meme coin craze.
After meme coins, tokens associated with real-world asset (RWA) tokenization are the next most profitable narrative for investors. According to CoinGecko research, RWA tokens saw an average gain of 286% in the first half of the year. This percentage gain suggests meme coins were nearly five times more profitable than RWA tokens.
Among RWA tokens, MANTRA (OM) and TokenFi (TOKEN) experienced the most significant gains at 1074.4% and 419.7%, respectively. Conversely, XDC Network (XDC) was the sole token to register a decline, tanking by 15.6% during the same period.
AI-based tokens closely trailed behind as the only other narrative to achieve triple-digit returns, reaching 222.0% in Q1. Interestingly, all of the large-cap AI tokens exhibited gains. AIOZ Network (AIOZ) led with 480.2% increase, followed by Fetch.ai (FET) with a notable 378.3% rise. Remarkably, even the least performing among them, OriginTrail (TRAC), yielded a respectable return of 74.9% in Q1.
Among other crypto narratives, CoinGecko observed moderate gains in DeFi, with a 99% increase recorded, followed by DePIN with 81%. Layer 1, Gaming, and Layer 2 recorded 70%, 64%, and 39% respectively.
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