Let's first look at a set of data:
In 2024, the total market cap of meme coins skyrocketed from 20 billion USD to 140 billion USD, with a growth rate of 600%.
After peaking at 137 billion USD in December 2024, the market cap fell by 59% to 56.2 billion USD in February 2025, then slightly rebounded to 64.25 billion USD.
In terms of market participation, meme coins accounted for 31% of attention in the cryptocurrency market in 2024, with trading volume increasing by over 950%.
It can be seen that the market is growing very quickly. We set the standard for golden dog projects as those with a growth rate of over 50 times and a market cap exceeding 100 million USD, mainly concentrated on-chain in:
Solana: In 2024, the issuance of tokens on the Solana chain exceeded 5 million, with 69,197 projects successfully breaking into the market. Approximately 550,000 to 730,000 new meme coins were added in the past year, with an estimated 100 to 150 meeting the 'golden dog' criteria. Q2 2024 and Q1 2025 are peak periods for golden dogs.