Memecoins, once dismissed as little more than internet jokes, have cemented themselves as a permanent fixture of the crypto economy, according to new research from Galaxy Digital.

In a report published Wednesday, research analyst Will Owens argues that the sector has matured into a cultural and economic force in its own right. Galaxy estimates digital assets tied to memes now represent a meaningful share of trading activity and investor interest, extending well beyond Dogecoin and Shiba Inu.

A cultural and trading phenomenon

Owens wrote that memecoins “capture attention and capital” by blending humor with financial speculation, making them uniquely effective at onboarding new participants into crypto.

Galaxy’s research cites the growing number of users interacting with memecoins not on

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