TL;DR

• Memecoins registered an average return of over 1300% across the top tokens by market cap (outperforming RWAs in profitability by 4.6x).

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Memecoins.

Memecoins are the most profitable narrative of 2024.

The sector (if you’d call it that?) registered an average return of over 1300% across the top tokens by market cap.

And it has a pretty solid lead on the competition:

According to CoinGecko analyst Lim Yu Qian, the memecoin narrative was 4.6 times more profitable than the next best-performing crypto narrative of tokenized real-world assets (aka RWAs).

The best part?

Because these trades are being made on public blockchains, all of these crazy bets are fully trackable. For example:

• One investor (/gambler) turned $13k into over $2M in just under one hour, after buying into the MOEW token.

• While someone else turned $8.3k into — get this — $6.5M, with a well-timed purchase of APU tokens.

Here’s the strange part:

This kind of high-octane-gambling behavior isn’t out of place in the crypto space…

But it usually only takes hold when the market has entered its ‘mania’ phase.

(And right now, we’re far from that point).

Maybe all those Twitter pundits were right — maybe this time is different?