- Meme coins surged 212% in 2024, outperforming DeFi and Layer 1 projects due to retail investor enthusiasm.
- AI-linked tokens like GOAT and Ai16z gain traction, with AI agents generating revenue and market commentary.
A recent Binance Research report highlights shifting trends in cryptocurrency markets, with meme coins dominating 2024 and AI-linked tokens gaining traction in early 2025. Meme coins surged 212% last year, outperforming decentralized finance (DeFi) projects and major blockchain networks.
The report attributes this rise to retail investors favoring assets without insider allocations or locked tokens, which they perceive as fairer than traditional crypto offerings.
Memecoins were a standout trend of 2024 and dominated crypto mindshare. Not far behind was the AI narrative, with AI agents in particular picking up steam over the last few months.
We recently discussed these topics in our Full-Year 2024 & Themes for 2025 Report 🧵 pic.twitter.com/zgh7Ps42AO
— Binance Research (@BinanceResearch) February 4, 2025
Meme coins, often created as speculative tools tied to cultural moments, thrive on Ethereum and Solana. Ethereum hosts established tokens like Dogecoin and Shiba Inu, while Solana emerged as a hub for new meme coin trading in 2024. Retail investors, frustrated by underperformance of venture-backed cryptocurrencies, redirected funds into these assets.
AI-related tokens are rising as a competing narrative
Projects linked to autonomous AI agents, such as GOAT and Ai16z, gained attention in late 2024. GOAT, tied to an AI platform called Truth Terminal, became the first AI agent to generate $1 million in revenue by October 2024. These tokens often support AI systems that provide market analysis or entertainment, attracting users seeking exposure to emerging tech trends.
Binance Research notes that AI tokens now rival meme coins in market interest. However, meme coins retain cultural relevance by embedding internet humor or events into blockchain ecosystems. For example, tokens referencing viral social media trends or political figures saw rapid adoption. This contrasts with AI tokens, which emphasize utility through partnerships with machine-learning platforms.
The report identifies two key factors driving meme coin popularity: simplicity and community engagement. Unlike complex DeFi protocols, meme coins require minimal technical understanding, lowering entry barriers for casual investors. Additionally, social media platforms amplify their visibility, turning niche jokes into tradable assets.
Despite their growth, both sectors face volatility risks
Meme coins often lack long-term roadmaps, relying on speculative trading. AI tokens, while tied to tangible projects, must prove sustained demand beyond hype. Regulatory scrutiny also looms, as lawmakers examine whether these assets qualify as securities.
Ethereum and Solana remain central to these trends. Solana’s low fees and fast transactions made it a preferred chain for meme coin launches last year, while Ethereum’s established ecosystem supports larger, more liquid tokens. The competition between chains mirrors the broader battle for retail investor attention.