A recent global survey conducted by Binance reveals a surprising trend among cryptocurrency holders: memecoins are more commonly held than Bitcoin. According to the Binance Global User Survey released on December 18, 16% of participants reported holding memecoins, making them the most popular altcoin category among respondents.
Bitcoin Takes a Backseat to Memecoins
As the world’s largest cryptocurrency exchange by daily trading volume, Binance often serves as a barometer for market sentiment. The survey results indicate that while Bitcoin remains a key asset, its dominance is waning among retail investors. Memecoins took the top spot, with Bitcoin ranking second as 14.4% of participants reported holding it in their wallets.
The survey included responses from over 27,000 users across Asia, Australia, Europe, Africa, and Latin America. Binance noted:
“The findings demonstrate that memecoins are not only popular among current holdings but also reflect a high level of excitement about this asset class’s future.”
Although the survey did not disclose the value of users’ holdings, CoinGecko data estimates the total memecoin market capitalization at $117 billion. Leading memecoin Dogecoin (DOGE) is trading at $0.362, while Bitcoin’s market cap exceeds $2 trillion despite a recent pullback to $101,000 after reaching an all-time high of $108,000 earlier this month.
Advertisement Banner
Memecoins and AI Tokens Lead 2025 Growth Predictions
Survey participants also expressed confidence in memecoins’ long-term potential, ranking them as the second most promising asset class for 2025. Meanwhile, AI tokens claimed the top spot, with 23% of respondents expecting them to drive market growth next year. Memecoins followed closely, with 19% predicting an increase in market capitalization by 2025.
Google search trends reflect this growing interest. The search term “memecoin” peaked on December 5, with a search volume score of 100, before declining to 66 by December 19. In contrast, searches for “Bitcoin” fell from a high of 100 to 50 over the same period.
Market Dynamics and Memecoin Speculation
Binance’s survey revealed that 45% of respondents entered the crypto space in 2024, with 31% identifying as regular traders. While memecoins are highly speculative and lack intrinsic utility, some experts speculate about a potential “memecoin super cycle”. Despite concerns about their sustainability, comparisons have been drawn to the boom-and-bust cycles of initial coin offerings and non-fungible tokens.
The Bit Journal will continue to monitor these evolving market dynamics, providing insights into what the future holds for memecoins and other emerging asset classes.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
