2024 Meme Track Analysis: From Viral Spread to Key Ecological Development

This article analyzes the current state and development characteristics of the Meme track in 2024, including trends in Meme coin popularity, the rise of platforms, methods of dissemination, and market strategies.

Main findings

• Meme coins experience cyclical popularity, especially hot at the beginning of the year and in the second quarter. Their spread is similar to an infectious disease, rapidly disseminating through social media.

• Memecoin launch platforms have become important innovations, such as Pump.fun and SunPump, which simplify the creation and trading processes of Meme coins, attracting a large number of users. Each platform has its own characteristics in terms of user base, revenue, and ecosystem support.

• Meme coins have been regarded as pioneers in the development of major blockchain ecosystems, attracting market attention and funds to promote subsequent ecological construction.

• With the easing of liquidity and increased institutional participation, the Meme coin market is expected to continue its explosion in the second half of 2024, with the anticipation of more professional and transparent gameplay.

New Features of the Meme Track

Continues to be hot, showing periodicity

The current round of Meme fever has reached an unprecedented height, especially from February to April this year. Several popular coins have seen an average increase of 6 times per week, continuously breaking the record for the shortest time to be listed on exchanges.

Meme dissemination is akin to a virus, relying on user sharing for rapid spread. Once it enters popular social networks, it can trigger strong emotional responses or be easily imitated, leading to exponential growth. The ordi craze at the beginning of 2024 to the sol Meme wave in the second quarter exemplifies this characteristic.

The rise of Meme platforms

The Memecoin launch platforms are a major feature of this round, such as Pump.fun and SunPump. These platforms simplify the creation and trading process of Meme coins, seamlessly integrating with mainstream blockchains and attracting a large number of users. Each platform has its own characteristics in terms of user positioning, issuance quantity, returns, success rate, and ecological integration.

Platform Comparison Analysis

• User Base: Pump.fun primarily targets Western users, while SunPump is more popular in Asia.

• Platform Revenue: As of the end of August, SunPump's revenue is approximately 567K, with about 7,500 Memecoins issued daily. Pump.fun issues about 7,000 daily, making the two comparable. Both charge a 1% transaction fee.

• Ecological Integration: Pump.fun was launched early on the Sol chain and later integrated with Base and Blast chains. SunPump primarily operates on the TRON blockchain, relying on its payment system and exchange infrastructure.

SunPump Case Study

SunPump performs better than most Meme launch platforms. The founder of TRON stated that SunPump is an important part of TRON's long-term strategy, working together with the payment network and DeFi layer to build a complete ecosystem.

SunPump advantages:

1. The team has a deep understanding of the Meme market.
2. The TRON platform provides strong liquidity support.
3. Gain strong support from the Asian community

With the launch of the SunPump token, the number of active TRON addresses reached 1.9 million in August, surpassing Solana's 1.09 million.

Meme and Ecological Liquidity

Meme has become the "stronghold" for the development of major public chains and project ecosystems, marking the biggest change in this round. By attracting funding and attention through Meme, it paves the way for subsequent ecological products.

Case:

• Linea Chain: $Foxy
• Base chain: $Degen, $Enjoy, $High
• Manta Chain: $10 million Moon Mission Meme Grants
• Avalanche Chain: $COQ, $KIMBO, $TECH, $GEC
• Fantom:Sonic Memecoin
• zkSync:$MEOW

Main Meme Project Types in 2024

1. Dealer Coin: large pool, fast pump, such as BOME/SLERF/MEW, etc.
2. Trending Events Coins: GME/BODEN/TREMP, etc.
3. Community Coins: POPCAT/MICHI/SC, etc.
4. Celebrity Tokens: MOTHER/RNT/PAJAMES, etc.
5. Others: WEN/BONK/WIF, etc.

Meme Outlook for the Second Half of the Year

• The altcoin index is at a historical low and is expected to rebound.
• Official and VC participation begins, consensus in the Meme track strengthens
• The gameplay will be more professional and transparent.
• Liquidity is trending towards easing, which is beneficial for the development of Memes.
• Possible emergence of meme-based secondary products and tools

Overall, from the second half of 2024 to the first half of 2025, the Meme coin market is expected to迎来 a new round of growth.