Meme coins have been on the charge this year, as a marked improvement in overall market sentiment has propelled tokens to skyrocketing returns in 2024.

What happened: Cat-themed cryptocurrency, Popcat has been the star performer, exploding as much as 23,895% year-to-date. 

The Solana (CRYPTO: SOL)-based coin had a market capitalization of nearly $1.9 billion as of this writing, ranking eighth among meme tokens.

In the last 24 hours, POPCAT blasted to a record high of $1.99, with a 66.66% jump in trading volumes.

Some of the other big gainers have been dogwifhat, which was up over 2500% year-to-date, and frog-themed Pepe, which returned 1246% to its holders since the year began.

Both PEPE and WIF rallied sharply in the last 24 hours after premium cryptocurrency exchange Coinbase announced listing the two tokens for trading. While Pepe jumped 80%, WIF popped 41% in the said time period.

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In comparison, Dogecoin, the largest meme coin by market value, experienced a modest 333% increase this year.

However, the “original meme coin” stands to benefit from the establishment of D.O.G.E., an acronym for Department of Government Efficiency, headed by Elon Musk in the incoming Donald Trump administration. 

Overall, the meme coin sector expanded by monumental proportions in 2024, adding nearly $95 billion to the cumulative market capitalization.

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