Wow, so memecoins are officially stealing the thunder from Bitcoin? A new global user survey from Binance says that memecoins are now in more wallets than Bitcoin. The survey, which pulled from over 27,000 users in regions like Asia, Australia, Europe, Africa, and Latin America, shows that 16% of people own meme tokens, while only 14.44% have Bitcoin.

Memecoins Gaining Traction

Binance pointed out that it’s not just about current ownership; they’re also being looked at as things with future potential. The total market cap for memecoins is sitting at $117 billion, with Dogecoin leading the charge at $0.362.

Bitcoin's still the heavyweight, valued at over $2 trillion and trading around $101,000 after hitting a record high of $108,000 on Dec. 17. It’s a weird juxtaposition, showing that both the old guard and the new kids on the block can coexist in this wild crypto market.

The AI Token Boom

The Binance survey also gives a glimpse into how people feel about the market going into 2025. AI tokens are predicted to be the next big thing by 23% of respondents, while memecoins are in second place with 19% anticipating their future value. That’s also reflected in search trends—searches for “memecoin” peaked at 100 on December 5 and then dropped to 66 by December 19. For “Bitcoin,” the peak was also at 100, but it fell to 50.

Crypto Market Engagement

The survey noted that 45% of people started getting into crypto this year, and 31% of those are actually trading. While memecoins are certainly popular, they remain hyper-speculative assets, leading to discussions about their long-term sustainability. This speculative nature is a double-edged sword, attracting both excitement and skepticism from the crypto community.

Will Memecoins Keep Going Up?

Experts are split on whether memecoins will keep rolling. Some think we might be entering a memecoin supercycle, while others think it could end up like the ICO and NFT booms. At the Canada’s Futurists conference in August, crypto leaders debated if memecoins could keep their momentum or go the way of other once-hot trends.

But the survey suggests that the love for memecoins is strong, and they’re likely to stay a hot topic in crypto as we move into 2025. They've proven they can keep the public interested and active in the market.

Stablecoins vs. Memecoins

That said, memecoins are starting to gain traction, but let’s not forget about stablecoins. These guys are pegged to stable assets like fiat currencies or commodities and are considered better for cross-border payments in Latin America.

The Risks of Memecoins

Using memecoins as a major savings tool in unstable economies is risky. They come with high volatility, market manipulation, lack of intrinsic value, and regulatory uncertainties. Memecoins are driven by social media trends, which can lead to price swings that are both rapid and unpredictable. This volatility makes them a poor choice for preserving wealth in hyperinflationary situations.

Looking Ahead

Despite the risks, the future for memecoins looks interesting. Their community-driven nature and potential for virality make them a unique class of assets. As the crypto landscape shifts, they might just carve out a niche for themselves, fueled by public interest and market activity.

Memecoins are definitely making waves and changing the landscape of the best crypto market. They offer both opportunities and risks, and it’s going to be interesting to see how they fare as we head into 2025.