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Over the past 12 months, bitcoin (BTC) has appreciated more than 168% against the U.S. dollar, a notable performance compared to other asset classes globally. However, seven out of the top ten gainers in the past year have been meme coins, with the crypto assets TRUMP, WIF, BOME, BONK, MOG, and TURBO leading the charge.
Meme Coins Dominate Crypto Market Performances: Top Gainers Include TRUMP and WIF
During the past year from June 12, 2023, to June 12, 2024, meme coins have dominated the cryptosphere. BTC and ETH recorded gains of 168% and 109%, respectively, but it was the humorous meme coin assets that truly captured the spotlight. The presidential meme token maga (TRUMP) emerged as the top performer, increasing more than 122,000% over the past 365 days. Dogwifhat (WIF) claimed second place, with a rise exceeding 58,000%.
BOME saw an increase of 17,000%, while BONK appreciated by more than 10,000% against the U.S. dollar. The fifth top gainer over the 12-month span was MOG, which climbed over 8,000%. TURBO took the sixth spot with a growth of more than 4,900% during the year. Completing the top ten, AIOZ, OM, ABT, and PEPE posted gains between 1,300% and 4,800%.
Conversely, some coins did not fare well over the 12-month period. The Wormhole token W, despite its recent launch, declined 59% and was the biggest loser. Rocket Pool’s RPL token dropped over 51%, and APE decreased by more than 49%. To complete the top five, DYDX fell 46%, and CRV was down by 43%.
Other notable decliners among the top ten by percentage losses included CSPR, KAVA, GMX, PIXEL, and FXS. The past year underscores a clear trend: meme coins not only captivate the market’s imagination but also command significant financial momentum. While traditional assets like bitcoin (BTC) and ethereum (ETH) posted respectable gains, the eye-popping surges in meme coin values highlight a diverging path where humor and novelty have increasingly swayed market dynamics.
What do you think about the top gainers and losers over the last 12 months? Share your thoughts and opinions about this subject in the comments section below.