Memecoins have seen average returns of 103% over the past 30 days, more than 6 times higher than the crypto market’s average return of 16.1%, according to data of Artemis.
Dogecoin (DOGE) and Pepe (PEPE) saw the largest gains among the 19 memecoins tracked by Artemis during the period, increasing 196.1% and 115%, respectively. PEPE’s PepeCoin “beta game” also rose significantly, with a gain of 121.1%.
Meanwhile, Solana-based Bonk (BONK) soared 70.2%, while Brett de Base (BRETT) saw its prices rise 63.5% over the period.
Notably, many US election-related memecoins crashed in the days following the conclusion of the presidential race, including MAGA (TRUMP), which fell 72% over the past 30 days.
According to market analysis platform Kaito AI, memecoins control nearly 24% of investors’ minds as of November 14. One in four crypto investors posting on X discuss memecoins.
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Including memecoins, only nine of the 22 crypto sectors tracked by Artemis exceeded the market’s average monthly return of 16%.
The “store of value” sector, which includes tokens like Dash (DASH), Litecoin (LTC), and Monero (XMR), saw an average gain of 48.2%.
Tokens native to first-generation blockchains focused on smart contract functionality, such as Cardano (ADA) and Ethereum Classic (ETC), followed closely, surging 47.1% over the past 30 days.
Meanwhile, smart contract platforms like Solana (SOL) and Sui (SUI) saw average gains of 24.3% and barely outperformed the average market return.
The relatively smaller gains of the overall sector, despite the strong performance of SOL and SUI, are primarily the result of the lackluster performance of other tokens in the index, including tomiNet, Celo (CELO), and optimism (P.O.) — all of which recorded losses over the period.
Tokens tied to oracles, DEXs for perpetual trading, centralized exchanges, and general DeFi applications also outperformed the market average, up 19.1%, 24%, 20.9%, and 20.3%. , respectively.
At the same time, the real assets (RWA) sector performed in line with the market average, recording an overall gain of 16.8%.
On the negative performance side, tokens from the AI and social sectors recorded negative variations of 1.6% and 4.6%.
Furthermore, the data availability sector collapsed by 14.6% over the last 30 days and was the worst performer over this period.
