Meme Cryptos Are Breaking Records And Stealing The Spotlight From Bitcoin!

Memecoins, which had left traders with a bitter taste a few weeks ago, are back with a vengeance. Despite their rollercoaster performances, these meme cryptos are now stealing the spotlight from the king, Bitcoin. A recent study reveals that 42 cryptos have surpassed Bitcoin, a majority of which are memecoins boosted by Binance. This trend is renewing investor interest in these unpredictable but highly lucrative altcoins.

Bitcoin shaken by new contenders

Can Bitcoin remain the absolute master? Not so sure! While the crypto-star flies solo, investors are increasingly turning to riskier alternatives. Among the 42 cryptos that surpassed Bitcoin this year, 25 are listed on Binance. Even more impressive, some have just hit the scene, like SWIF, which exploded by 234% upon its listing.

42 coins outperformed $BTC this year, 25 of which are listed on #Binance, and 20 were listed on Binance last year or earlier, allowing users to trade and benefit from their growth.

Among the unlisted coins, 4 are exchange tokens, while 10 are small-cap, low-volume assets that… pic.twitter.com/XFEcVVg8Rp

— Lookonchain (@lookonchain) September 20, 2024

It seems that altcoins are having their revenge, attracting those seeking quick gains.

And that’s not all:

• ARKM: +10,389%;
• PENDLE: +752%;
• FLOKI: +701%;
• PEPE: +496%.

In light of these astonishing performances, bitcoin appears to be a dinosaur. The new tokens seem to bring a breath of fresh air that disrupts the status quo.

“Memecoins are rewriting the rules of the game,” claims Lookonchain.

Memecoins are a hit

Leading the pack, memecoins, these jokester coins from social media, are having their day in the sun. 8 of the top 10 cryptos of the year are memecoins, driven by their exposure on Binance. The platform has not held back, listing 4 memecoins, thus increasing their visibility.

But be careful, all this is just a big show led by influencers and celebrities, capable of inflating the value of these cryptos with well-placed tweets.

This meteoric rise of memecoins reflects a deep change in the crypto ecosystem: more than just an amusement, they are becoming an economic phenomenon in their own right. Traders seeking big profits are betting on these volatile assets, fully aware of the risks… but also the rewards.

Even meme cryptos to pity, like Shiba Inu, take off after economic announcements. Following the U.S. Federal Reserve’s rate cut, the memecoin has hit the jackpot once again.