Web3 gaming is the worst-performing narrative of Q2 2024 among top crypto categories this cycle. Mythos, Echelon Prime, Yield Guild Games noted double-digit declines in the past week, per CoinGecko data. Relative strength of most top crypto narratives is negative compared to meme coins, per DYOR data. Meme coins ranked first, while Gaming Finance ranked last in terms of Relative Strength, among other metrics.
Meme coins, Layer 1, and blockchain service tokens are the top 3, while DeFi, DePIN, and Web3 Game Fi are the bottom 3, according to the chart. Relative Strength of Crypto Narratives on DYOR Hitesh Malviya, the analyst behind the X handle @hmalviya9, notes that the best performer among meme coins was DEGEN token, which offered over 1,000% gains to holders.