SPXUSDT on TradingView.com<\/a><\/figcaption><\/figure>\nAt the time of writing, the SPX is trading at $0.575, up a remarkable 35% in the 24 hour time frame, showing the impact of Murad’s participation in the TOKEN2049 in early September this year.\u00a0<\/span><\/p>\nFeatured image from DALL-E, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"In a year marked by significant volatility in the cryptocurrency market, memecoins have emerged as key players, outperforming Bitcoin (BTC) and the rest of the largest cryptocurrencies in the ecosystem.\u00a0 This trend was underlined by recent insights from market expert Miles Deutscher, who highlighted a presentation by memecoin analyst Murad at the TOKEN2049 conference in Singapore.\u00a0 Memecoins Challenge Traditional Cryptocurrencies According to Murad, only 43 tokens have surpassed Bitcoin\u2019s performance in 2024, with 13 of those being memecoins. Notably, eight of the top ten performers in the market this year are also memecoins. Murad emphasized that this cycle is distinct from previous ones, asserting, “The memecoin cycle is not a prediction; it has already begun\u2014memecoins are dominating by virtually every metric.”\u00a0 Related Reading: TON Recovery Stalls: Another Price Decline Hinders Bullish Efforts The rise of memecoins can be attributed to several factors, particularly their ability to resonate with retail investors seeking community, identity, and excitement, rather than merely potential financial gains. As Murad puts it, “Memecoins are a superior version of altcoins.” The appeal of memecoins extends beyond speculation; it is alleged that they have cultivated a culture that fosters community and \u201cemotional connection\u201d among investors. Murad noted that these tokens enable users to engage in a shared experience, bringing real value through stories that \u201ccreate trends and spark movements\u201d.\u00a0 Success stories of significant gains\u2014such as those seen with tokens like dogwifhat (WIF) and Pepecoin (PEPE)\u2014propagate quickly, fueling interest and excitement in the memecoin space over the past year. According to Deutscher, the most successful cryptocurrencies have developed strong communities, often resembling \u201ccult-like followings.\u201d Cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin have thrived on this dynamic, and memecoins are fully embracing it.\u00a0 SPX And GIGA Capture Retail Attention Murad further explained that the recent performance of altcoins on platforms like Binance has further fueled the memecoin narrative. Almost every altcoin listed this year is trading below its listing price, with only two exceptions: WIF, a memecoin, and JUP, which facilitates memecoin trading.\u00a0 Murad further alleges that retail investors prioritize making money (70%), having fun (20%), and feeling a sense of belonging (10%). Murad argues that memecoins embody this speculative nature, akin to the Initial Coin Offering (ICO) boom of 2017, but in a new form.\u00a0 Instead of initial coin offerings, Murad sees that memecoins are allowing early-stage investments at lower valuations, which contrasts sharply with altcoins, where most upside is captured in private markets. Related Reading: Bitcoin Price Turns Green In October Once Again, Is The Bull Run Here? Deutscher also praised that as the memecoin phenomenon continues to grow, Murad’s insights have already influenced market dynamics, sparking one of the strongest memecoin rallies of the year.\u00a0 Tokens dubbed “Murad coins,” such as SPX and GIGA, have seen substantial gains, resonating with retail investors who are drawn to the excitement of potential profits.\u00a0 At the time of writing, the SPX is trading at $0.575, up a remarkable 35% in the 24 hour time frame, showing the impact of Murad’s participation in the TOKEN2049 in early September this year.\u00a0 Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":647060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,6664,14690,1558,54512,85699,92208,85073,93085,88164],"class_list":["post-647059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto","tag-crypto-news","tag-cryptocurrency","tag-defi","tag-memecoin","tag-memecoin-analyst","tag-memecoin-mania","tag-memecoin-news","tag-memecoins"],"acf":[],"yoast_head":"\n
Only 43 Tokens Have Outperformed Bitcoin This Year, Most Of Them Memecoins<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n