pto world. The second is the rapid growth of the user base. According to Dune data, the number of Memecoin holders has increased from less than 1 million in January 2024 to more than 10 million in December, an increase of more than 10 times. The number of

Memecoin is an unavoidable theme in 2024. Classic meme coins such as Dogecoin and Shiba Inu have an average increase of more than 5 times in 2024

the crypto field.

In addition to the attitude of the institution, the user base of Memecoin is also expanding rapidly. According to Footprint Analytics data, the number of Memecoin users has increased by nearly 20 times in 2024, and the number of daily active users has reached nearly 10 million. Among them, the number of users holding DOGE has exceeded 10 million, and the number of users holding SHIB has exceeded 5 million. At present, the number of users holding Memecoin with a market value of more than US$100 million has exceeded 1 million.

output: Memecoin, an unavoidable theme in 2024.

Classic meme coins such as Dogecoin and Shiba Inu have an average increase of more than 5 times in 2024, while the investment returns of emerging meme coins such as MooDeng and PNUT are as high as 100 times. The overproduction of tokens and high circulation and high valuation of VC coins have made this round of bull market a bull market where no one takes over. Therefore, Memecoin has been extremely active in this round. It has become an indicator of on-chain liquidity, a whistleblower of new narratives, and a thermometer of market sentiment.

This year, we have witnessed the process of Memecoin's transition from frenzy speculation to the gradual move towards mainstream culture and consensus effect, and the great wealth transfer has taken place. In this process, the issuance method is constantly innovating, the asset type is rapidly changing, and the mainstream acceptance and adoption have promoted its vigorous development. Every transformation hides a hundred times or a thousand times the opportunity to get rich. Looking back at the 2024 Memecoin super cycle, let us witness the changes and opportunities of this year together.

Infrastructure is becoming increasingly complete

The prosperity of this round of Memecoin super cycle is inseparable from the continuous improvement of infrastructure. Whether it is the innovation of the underlying issuance method of the B-side or the optimization of the C-side user experience, it provides conditions for Memecoin to flow in funds and expand users rapidly.

Innovation in issuance methods

The traditional Memecoin issuance method is similar to that of ordinary tokens. As an attention economy, Memecoin has rapidly changing market hotspots, but the current asset issuance cycle is long and complex. User preferences and hype rhythms on major public chains are also different. These make it difficult to concentrate market attention and liquidity, and it is difficult to quickly push up asset prices in a short period of time.

PUMP.FUN: The core engine of the super cycle

The pre-sale model of BOME and SLERF has changed the issuance method to a certain extent and attracted market attention. However, RUGs of the Memecoin are frequent, and the above problems have not been effectively solved. The emergence of PUMP.FUN has effectively solved this situation. The Memecoin issuance cycle has begun to shorten, funds have been continuously circulated, and users have gradually concentrated, laying the foundation for the opening of the Memecoin super cycle.

PUMP.FUN was created by founder Alon in January 2024, but it had few followers at the time, and it did not gradually enter the public eye until April. At present, it has issued nearly 5 million Memecoins, accounting for nearly 70% of Solana's daily token issuance, becoming the highest-earning protocol on Solana. As the engine of the Memecoin super cycle, the optimization of asset issuance methods is its core advantage. It allows users to create tokens without any technology (after the August update, there is no need to pay a $2 creation fee). Fair intra-disk fundraising + a reasonable price curve (Bonding Curve) successfully reduces the cost of asset issuance and increases the speed of asset issuance. This is an effective solution to the problem of rapid conversion of Memecoin hot spots and difficulty in concentrating capital speculation in the current market.

In addition, the success of PUMP.FUN is not only due to the innovation of the mechanism. Its user positioning and product design are also excellent. From the user side, it solves the real problem of most people in the Web3 market, "users want to get higher multiples of returns in a simpler, faster and lower-cost way." From the product side, it is one of the few projects with a complete commercial closed loop, and the source of profit is clear and traceable. (1% of the platform transaction fee before listing on Raydium, and the "currency listing fee" of 6 SOL during the packaging and listing on Raydium.)

Currently, according to Dune data, as of December 23, PUMP.FUN has deployed nearly 5 million Memecoins since its launch, with 300,000 daily active users and 170,000 new addresses added daily. According to DefiLlama data, PUMP.FUN's protocol revenue in the past