Memecoins HODLlers outnumber Bitcoin, Binance survey says
2024-12-19
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Cryptocurrency hodlers have more memecoins in their wallets than Bitcoin, according to a new user base survey conducted by crypto exchange Binance.
The survey results, released Dec. 18 as part of the Binance Global User Survey, found that 16% of respondents reported holding memecoins, making them the most-held cryptocurrency among those polled. 
Bitcoin BTCUSD came in second, with 14.44% of participants stating they had some in their wallets. The survey sampled more than 27,000 users from Asia, Australia, Europe, Africa and Latin America.
“The survey results suggest that memecoins are not only popular in terms of current holdings but are also the class of digital assets that users are highly excited about for the future,” Binance said.
The exchange did not disclose the value of respondents’ holdings. However, data from CoinGecko shows the total market cap for the memecoin market is sitting at $117 billion, with top performer Dogecoin DOGEUSD trading at $0.362.
For comparison, Bitcoin’s market cap is over $2 trillion, with the cryptocurrency trading at around $101,000 per coin after hitting a new all-time high of $108,000 on Dec. 17. 
AI tokens and memecoins lead 2025 growth predictions
Binance survey respondents were also bullish on memecoins as a market leader going into 2025. Artificial intelligence tokens took the top spot, with 23% of respondents saying they think it will drive market growth next year. 
Memecoins came in second, with 19% of those polled saying they were confident the market value would rise in 2025. 
Google search data also reflects this interest. Over the past 30 days, search volumes for the term “memecoin” peaked at 100 on Dec. 5 before declining to 66 as of Dec. 19.
In comparison, searches for “Bitcoin” recorded a volume of 50, down from their peak of 100 on the same date.
Binance’s survey also found that 45% of participants joined the crypto space in 2024, with 31% engaging in regular trading.
Memecoins are hyper-speculative crypto assets with no utility. Some experts spoke to Cointelegraph in December about a possible memecoin supercycle, speculating the market could still be on the rise. 
However, back in August, crypto executives taking part in a panel discussion at Canada’s Futurists conference questioned whether memecoins would follow the trajectory of initial coin offerings and non-fungible tokens — both of which experienced massive booms before declining sharply.