Originally published on: October 13, 2024
Google search interest in “Bitcoin” has hit a yearly low, dropping to just 33 out of 100 in a recent report. Meanwhile, searches for ‘memecoins’ have surged to a solid 77, gaining momentum in the crypto space.
As per CryptoQuant CEO Ki Young Ju, the search volume for memecoins is expected to hit an all-time high by the end of October 2024, reflecting the continued interest in these digital assets.
The memecoin sector has outperformed other crypto sectors in 2024, with a staggering 491,000 new tokens created on the Solana network since September 12. Solana Floor reported that approximately 20,000 new tokens were launched within 24 hours, showcasing the popularity of memecoins.
Platforms like Pump. Fun have contributed to the memecoin craze, offering user-friendly interfaces, low fees, and quick access to liquidity, making it easier for anyone to issue new tokens and participate in the trend.
Despite the surge in memecoin popularity, there has been criticism and warnings from industry figures like Mark Cuban, who called meme coins a potential “rug pull in the works.” The risk associated with trading memecoins is high and caution is advised.
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