Recently, interest in Bitcoin has been declining, whereas memecoins continue to attract attention from both investors and buyers.
Decline in Bitcoin Interest
According to Google Trends, in October 2024, the search interest for 'Bitcoin' hit a one-year low. During the week ending on October 12, 2024, the index dropped to 33 out of 100.
Increasing Popularity of Memecoins
With the declining interest in Bitcoin, memecoins have shown significant growth, reaching a search index of 77 out of 100 in October 2024. This indicator has not yet surpassed its previous peak in 2023. More than 491,000 new tokens, primarily memecoins, have been created on the Solana network since September.
Experts' Views on Memecoins
Some experts, like CryptoQuant CEO Ki Young Ju, believe that interest in memecoins will continue to rise. Meanwhile, renowned investor Mark Cuban advises caution, stating that 'every meme coin is a rug pull in the works.'
Despite the risks and warnings, the popularity of memecoins in 2024 is impressive, attracting a wide range of participants due to their easy creation and rapid turnover.