Review of the Cryptocurrency Market in 2024: Bitcoin Surpasses $100,000, Meme Coins Lead Investment Trends

In 2024, the cryptocurrency market achieved unprecedented breakthroughs and innovations. Bitcoin (BTC) price surged to a historical high of $93,450 by December, primarily driven by market optimism following President Trump's re-election. This surge, widely referred to as the "Trump Effect," reflected positive market expectations regarding the new government's policies.

Bitcoin Price Surge to Historical Highs

According to reports, Bitcoin's price reached $93,450 in December 2024, setting a new record. This surge was mainly attributed to market optimism following President Trump's re-election, leading to positive expectations about his policies.

The significant increase in Bitcoin's price was widely referred to as the "Trump Effect," reflecting the market's positive outlook on the new government's policies.

Meme Coins Become New Investment Favorites

In 2024, the meme coin market was exceptionally active, with the total market capitalization briefly surpassing $105 billion, setting a new record. Among them, PumpFun, a meme coin issuance and trading platform based on the Solana blockchain, launched in January 2024, issued over 5.2 million tokens, accounting for 70% of the meme coin issuance on the Solana chain. It accumulated over $200 million in revenue, with peak daily revenues exceeding $14 million.

Additionally, PEPE coin, the third meme coin after Dogecoin (DOGE) and Shiba Inu (SHIB) to surpass a $10 billion market capitalization, saw its price surge from $0.00000086 at the beginning of the year to $0.00002836, an increase of over 3,200%.

Market Outlook

Looking ahead, the cryptocurrency market will continue to be influenced by factors such as policies, technology, and market sentiment. Investors should remain cautious, monitor market dynamics, and allocate assets wisely to navigate market volatility and challenges.