It seems that memecoins are stealing the spotlight from Bitcoin, because according to a new survey from Binance, more crypto holders are packing memecoins in their wallets than Bitcoin.
Proof of speculation?
The Binance Global User Survey revealed that 16% of respondents reported holding memecoins, making them the most popular digital asset among those polled, but on the other hand, Bitcoin came in second, with 14.4% of participants saying they had some in their wallets.
The survey gathered insights from over 27,000 users across Asia, Australia, Europe, Africa, and Latin America.
Binance shared that these results show that not only are memecoins popular among current holders, but they’re also generating a lot of excitement for the future.
While the Binance survey didn’t disclose the exact value of respondents’ holdings, if we take a quick look at CoinGecko’s numbers, we can see that the total market cap for memecoins is around $117 billion, with Dogecoin leading the pack at about $0.362 per coin.
In comparison, Bitcoin’s market cap exceeding $2 trillion, currently trading at approximately $100,000, after hitting a new ATH of $108,000 few days ago.
AI tokens vs. memecoins, who will win?
As we look ahead to 2025, Binance survey participants are optimistic about memecoins driving market growth, but AI tokens are taking the lead in predictions, with 23% of respondents believing they’ll be the primary growth driver next year.
Memecoins follow closely behind, with 19% expressing confidence in their rising market value.
Google search data supports this trend; over the last month, searches for “memecoin” peaked at 100 on December 5 before dipping to 66 by December 19. Searches for “Bitcoin” recorded a volume of 50, down from a peak of 100 on the same date.
Superduper mega high risk
Memecoins are known for being hyper-speculative assets with little to no utility, but some experts have speculated about a so-called memecoin supercycle, suggesting that this market could still be on an uptrend.
But of course, not everyone are convinced, during a panel discussion at Canada’s Futurists conference back in August, crypto executives raised concerns about whether memecoins might follow the same boom-and-bust pattern as ICOs and NFTs, both of which saw massive growth before plummeting, leaving many investors in loss.
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