---
title: "Record Number of New Traders Flock to Meme Coins: Data"
url: https://diffcoin.com/record-number-of-new-traders-flock-to-meme-coins-data/
description: "Meme coins has emerged as the most profitable crypto narrative in the first quarter of 2024."
published: 2024-04-04
updated: 2024-04-04
author: "Mila"
site: "Diffcoin"
---

# Record Number of New Traders Flock to Meme Coins: Data

Meme coins may have managed to capture the imaginations of investors but have also suffered greatly due to last year’s market downturn.

However, this sector is seeing a resurgence as data shows growing interest and participation from retail investors amidst a widespread recovery in crypto assets.

## Meme Coin Frenzy Continues

The number of addresses holding meme coins for under thirty days hit a record high last month, according to the latest analysis shared by IntoTheBlock. This [uptick](https://twitter.com/intotheblock/status/1775537404545265904) serves as a clear indicator of a massive inflow of new traders entering the market and engaging in buying meme coins.

> The number of addresses holding meme coins for under thirty days hit a record high last month. This indicates a massive inflow of new traders buying memecoins [pic.twitter.com/Qqc2at98UV](https://t.co/Qqc2at98UV)
> 
> — IntoTheBlock (@intotheblock) [April 3, 2024](https://twitter.com/intotheblock/status/1775537404545265904?ref_src=twsrc%5Etfw)

This aligned with CoinGecko’s latest report that found that meme coins were by far the most profitable crypto narrative in Q1 2024, boasting an impressive average return of 1,312.6% across its leading tokens.

Among the top 10 meme coins by market capitalization at the quarter’s end, three new tokens – Brett (BRETT), BOOK OF MEME (BOME), and Cats in a Dogs World (MEW) – debuted around March.

BRETT eclipsed the rest with an impressive return of 7,727.6% by the end of Q1 compared to its launch price. Following closely was dogwifhat (WIF), which attracted more than 2,721% quarter-to-date (QTD) return after going viral and triggering the ongoing meme coin frenzy.

Interestingly, the meme coin narrative outperformed other cryptocurrency narratives, such as real-world asset (RWA) and Layer 2, by 4.6 and 33.3 times, respectively, in terms of profitability during Q1.

## Trader Nets $2M from $13K Investment

On April 3, a crypto trader transformed their initial investment of $13,000 in a new meme coin on Base blockchain called Donotfomoew (MOEW) into over $2 million, making a staggering gain of 15,700%.

Lookonchain’s data [revealed](https://twitter.com/lookonchain/status/1775507347034734871) that the trader swiftly acquired 499.9 million MOEW tokens using 4 ETH within just 10 minutes of the meme coin’s listing on DEXes. Within less than an hour, the trader offloaded 111.65 million MOEW tokens for 99 ETH, equivalent to $328,000.

As of April 3rd, the trader still retains 388.24 million MOEW tokens, worth around $1.75 million.

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[Source link](https://cryptopotato.com/record-number-of-new-traders-flock-to-meme-coins-data/)