The attention given to memecoins may be driven by the massive gains many projects displayed in the first quarter of 2024.
Memecoins have kick-started a new crypto frenzy, attracting investors new to trading and searching for the next big token that could bring massive gains.
Market intelligence platform IntoTheBlock shows that the number of wallet addresses wallet address holding meme-related tokens for under 30 days hit a record high in March.
The analytics platform explained that this indicates a large inflow of new traders buying memecoins in March.
