3 Crypto Narratives Dominating 2024, The Return of GameFi?

The crypto market in 2023 is dominated by three main narratives: artificial intelligence (AI), GameFi, and meme coins. All three have attracted significant investor attention, setting the stage for altcoins to keep an eye on in 2024. Let's explore more about these narratives and the altcoins that could potentially shake up the industry in 2024!

AI Tokens Lead the Market

Source: BeInCrypto The most interesting narrative in 2023 is AI, with an 11.3% share in crypto narrative interest. The surge in AI is partly driven by technological advances, especially since the launch of ChatGPT by OpenAI in November 2022. Akash Network (AKT) and Render (RNDR) were among the best performers, with AKT prices surging 1,170% throughout 2023, while RNDR saw its market value rise by more than 1,000%. These AI tokens have shown tremendous potential in changing the crypto landscape. With ongoing technological advancements, these tokens are expected to continue to thrive and provide exciting investment opportunities in 2024.

The return of GameFi

GameFi, which represents 10.5% of interest, is making a striking comeback in 2023. This resurgence was driven by major video game companies, including Take-Two Interactive, Nexon, Bandai Namco, Konami Holdings, Krafton, Square Enix, and Ubisoft, entering the blockchain gaming arena and significant progress in blockchain projects. ImmutableX (IMX) and Ronin (RON) stood out in 2023, with the price of IMX increasing by nearly 480% and RON enjoying a 580% bullish rally. These gains show the huge potential GameFi has in changing the way we view gaming and blockchain, making it an exciting sector to follow in 2024.

Coin Meme Phenomenon

Sumber: Coinpedia
With an 8.3% share, meme coins are the third most popular narrative. The year 2023 witnessed a long meme coin season, with coins such as Pepe (PEPE) and Bonk (BONK) achieving substantial gains. BONK, in particular, achieved a remarkable value increase of 3,170% from its start in February 2023 to its peak in mid-December. In addition, Dogecoin (DOGE) and Shiba Inu (SHIB) remain important players in the meme coin sector. Meme coins have shown that they are more than just a momentary trend. With significant value gains and growing interest, they offer a unique opportunity for investors looking for diversification in their crypto portfolio.
Conclusion
The crypto market is highly dynamic, making it important for investors to stay up-to-date with the latest trends and narratives. The altcoins listed above, backed by 2023 momentum, have the potential to lead the market in 2024. However, investors should conduct thorough research and consider market volatility before making investment decisions. As the crypto industry evolves, these narratives and tokens offer an idea of what could shape the market in the coming year.