Watch Out for the Next Boom with Soaring Memecoins Hitting $140B Market Cap

The bullish outlook recently taking over the crypto market has seen soaring Memecoins register staggering trade volumes. The emerging Memecoin boom has caught the attention of analysts who believe Memecoins could be among the potential stars of the 2025 Bull Run.

According to the latest report from crypto exchange CEX.IO, a combination of soaring Memecoins led by dogecoin (DOGE) and Shiba Inu (SHIB) have ramped up a combined market cap, amounting to 3.16% of the entire crypto market cap compared to 1.3% at the beginning of 2024. As per the report, this gives the Memecoin market an 11.21% market share compared to 4.2% at the beginning of the year.

Memecoins Surpassed Bitcoin and Ethereum in Percentage of Trade Volumes

CoinGecko data places the combined Memecoin value at $140 billion in market capitalization when translated to monetary terms. The revelation coming when the king of cryptocurrency, Bitcoin, just crossed the once-revered $100,000 mark highlights a growing trend towards these tokens, representing a combination of fun and viral internet jokes.

DOGE, the Memecoin associated with Elon Musk, leads the pack with a 168% surge, making it the seventh-largest digital asset with a market cap of $64 billion. Dogecoin, the original and most popular of them all, led the soaring Memecoins with a weekly high price of $0.46. The token was trading at $0.4518 at the time of writing, having dropped slightly, but it was still over 9% higher in value, surpassing Bitcoin at 7% and Ethereum at a 5% rise during Thursday’s trading.

ETF Approvals Overshadowed Emerging Memecoin Boom

The Memecoin boom emerging once again as we come to the end of 2024 has dominated the cryptocurrency market on and off for most of the year, even though it got eclipsed by the approval of the spot Bitcoin and Ether exchange-traded funds (ETFs) early this year. And while the soaring Memecoins don’t aren’t covered by any underlying value, they seem to serve a purpose, according to Solana co-founder Anatoly Yakovenko. Speaking recently to a media outlet, he made an interesting confession.

Advertisement Banner

What did Yakovenko say about Memecoins?

“In previous cycles, Memecoins typically experienced their largest capital rotation toward the end of the post-halving bull run. However, this cycle stands out due to the significant rise in Memecoin influence occurring well before the halving and persisting even during Bitcoin’s consolidation mid-year.”

The $100K Bitcoin milestone may have sent the latest ripples that have affected the entire crypto market, pushing the market’s valuation up by a cumulative 3.31% to reach over $3.69 trillion. The trading volume of the whole market has reportedly increased by a whopping $359 billion, representing a 23.42% surge. The Memecoin boom has ridden perfectly on this growing wave, and by all appearances, they could be on track to another boom, seeing that they easily surpassed the previous $128 billion market cap to hit $140 billion with trade volumes topping $38.91 billion at $35.3 billion during the same period.

Memecoins: A Fun Way to Learn About Cryptocurrencies

Memecoins such as DOGE and SHIB are digital currencies resulting from humour and internet culture. While they may not necessarily have a solid use case or an intrinsic value, they have cut a niche for themselves and gained significant popularity due to celebrity endorsement and social media hype.

While many critics have called them a serious distraction from the main blockchain innovations, their highly volatile nature offers risk and reward opportunities for potential investors. Moreover, most supporters see Memecoin as a fun way to learn about cryptocurrencies and a gateway to their eventual adoption. Since their success is based on community sentiment and not necessarily fundamentals, most investors have treated them with caution even as they include them in their investment portfolios.

Conclusion

As the soaring Memecoins ride on the recent record broken by the flagship cryptocurrency by becoming the first ever six-figure valued digital asset, investors have another opportunity to consider turning the emerging hype into a chance to make profits. The Memecoin boom is already showing signs of potential astronomical gains and captured the attention of analysts who believe they will be an integral part of the 2025 Bull Run.  Perhaps these under-the-radar- digital assets could surprise many with good returns in 2025.