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Today, we’re sharing the top meme coins worth your attention in 2024. New meme coins appear all the time, and distinguishing between a legitimate project and a scam isn’t easy.
Furthermore, even trustworthy projects often fail within days from launch, which leads to large losses for investors.
To help you navigate this uncertain and volatile market, we dug into the background of the most popular coins, analyzed their performance over time, and researched their use cases.
We included both established meme coins like Dogecoin and new ones that are only available on presale.
Pepe Unchained, The Meme Games, WienerAI, PlayDoge, and Base Dawgz could be the best meme coins to buy now for rapid returns, while established tokens like Dogecoin and Shiba Inu might offer safer investments for long-term gains.
ORACLE MEME ($OMEME)– Meme coin offers meme AI generation & Raised Over 240K in less than 24 hours
Dogecoin ($DOGE) – The original meme coin trading at a 90% bear market discount
Shiba Inu ($SHIB) – One of the most successful meme coin stories to date
RichQUACK ($QUACK) – 12% sales tax shared with token holders for passive rewards
Dogechain ($DC) – Bringing smart contracts and web 3.0 tools to the Dogecoin ecosystem
Pepe ($PEPE) – The fastest-growing meme coin by market cap
Floki ($FLOKI) – Native coin of the Valhalla metaverse offering high staking rewards
Dogelon Mars ($ELON) – One of the earliest meme coins may see a revival
Milady Meme Coin ($LADYS) – One of the hottest meme coins with 90% of the community bullish
Buy Meme Coins If
You’re comfortable with high-risk, high-volatility investments
You’re diversifying your portfolio
You’re like participating in short-term trading
You’re interested in meme culture and trends
You’re familiar with the team behind a particular project
You understand the coin’s tokenomics
Don’t Buy Meme Coins If
You prefer low-risk investments
You don’t understand the project
You aren’t ready to lose your investments
You’re looking for long-term stability
The Best Meme Coins in July 2024 Reviewed
While some meme coins go on to achieve phenomenal returns, many crash and burn.
One of the challenging aspects of meme coin investing is knowing which projects have the potential to explode. Investors need to consider many factors, such as the meme coin’s use case (if any), community backing, and tokenomics.
Below, we analyze the best meme coins to buy in 2024.
Diversification is even more important in volatile trading environments. Consider this when researching the top meme coins 2024 discussed below.
1. Pepe Unchained ($PEPU) – The OG Pepe Gets an Upgrade, Up to 17,610% Staking APY
Building on Pepe the Frog’s popularity, Pepe Unchained ($PEPU)offloads transactions to an Ethereum Layer-2 blockchain for faster, cheaper transactions.
The original $PEPE’s growth was remarkable (1,148% year-to-date), but $PEPU sets its sights even higher. By moving to a Layer-2 chain, $PEPU aims to overcome the limitations of its predecessor.
The token presale is now live, with one $PEPU selling at $0.008. Early investors can stake their $PEPU at a 17,610% dynamic APY for passive returns. It’s worth noting that the rate will decrease over time.
Tokenomics Features
$PEPU Tokenomics Data
Presale
20%
Staking
30%
Marketing
20%
Liquidity
10%
Project Funds
10%
Chain Inventory
10%
$PEPU aims to make the frog meme great again and establish itself as the leading meme coin. Community building and continuous marketing efforts lie at the core of its strategy.
Read the project’s whitepaper for more information about $PEPU tokenomics and goals, and follow its X channel for announcements.
2. The Meme Games ($MGMES) – Claim a 25% Token Bonus by Betting on Your Favorite Meme
The Meme Games ($MGMES) merges meme appeal with the ongoing 2024 Olympics hype, presenting investors a chance to win a 25% token multiplier by betting on their favorite meme character.
The $MGMES presale kicked off on July 16 and raised over $16K in just a few hours. $MGMES now sells at the lowest price of $0.009, but it’s set to increase over time.
To build excitement and a loyal community, $MGMES presale introduces a gamification layer:
Join the $MGME token presale.
Choose your meme champion among five characters: $PEPE, $DOGE, $WIF, $BRETT, or $TURBO.
Watch your memethlete race to victory in a 169m sprint.
Win a 25% token multiplier if your memethlete crosses the finish line first.
Victory is based solely on luck, giving everyone an equal opportunity. However, you can increase your odds with multiple token purchases because there’s no limit on how many times you can wager.
Early birds can maximize their $MGMES holdings with up to 4,501% staking APY. It’s worth noting that the rate is dynamic and may change as more investors join the pool.
The Meme Games whitepaper outlines plans for DEX listings, continuous community incentives, and project developments to increase adoption and ensure long-term success.
Tokenomics Features
$MGMES Tokenomics Data
Maximum supply
2,024 billion
Total staked
2,248,591
Staking rewards
4,501% APY
Presale
38% (769.12 million)
Staking
10% (202.4 million)
Project funds
17.70% ( 358.248 million)
Games winnings
9.30% (188.232 million)
Liquidity
10% (202.4 million)
Marketing
15% (303.6 million)
To buy $MGMES at a discount, visit the official presale website, connect your crypto wallet, and specify how many tokens you wish to buy.
WienerAI took the crypto meme community by storm when it launched April 11 on presale and raised over $100K in mere minutes.
It now sits at $370,000 with a token price of $0.0007, more than double the initial presale price.
The project combines two evergreen niches: meme coins and artificial intelligence.
Its ERC-20 nature also brings interoperability with dApps and all other Ethereum apps, alongside lower transaction costs. Further utility will be added by the upcoming trading bot feature, after the developers listened to community requests.
WienerAI’s token supply is 69B tokens, according to the whitepaper. Approximately 20.7B are allocated for presale and 6.9B go toward liquidity, building long-term stability for the project.
$WAI also has a security audit by Coinsult with only one low-risk issue. All the important bits, like the owner’s ability to mint tokens or set fees, have passed all security checks.
The project also has over 4,400 followers on X, with a lot of organic engagement from crypto enthusiasts and self-proclaimed meme coin fanatics. The developers’ hype-y attitude also helps build loyalty in the community. The team clearly wants to have a strong launch, which could be why we’re seeing a lot of positive sentiment around the project.
Investors have staked over $547M tokens (73% of total presale allocation) with a rewards rate of 1,892% APY. More than $470M WAI have been rewarded to token holders.
You can buy WienerAI from the official presale website with ETH, BNB, USDt, or card. You’ll receive the tokens in your wallet on the website, where you can also stake them.
PlayDoge ($PLAY) combines Doge meme coins with GameFi.
The BEP20 project launched today and has already raised $208,800 in under ten minutes. 1 $PLAY is currently worth $0.005.
Investors have already staked over 1.9M tokens with a 9,647% staking APY. This is one of the highest APY rewards we’ve seen, and early investors should get a good ROI after $PLAY launches.
Tokenomics Features
$PLAY Tokenomics Data
Maximum Supply
9.4 billion
Allocated for Presale
50% (4.7 billion)
Allocated for Marketing
12.5%( 1.175 billion)
Allocated for Project Funds
12.5% (1.175 billion)
Allocated for Liquidity
11.5% (1.081 billion)
Allocated for Community Rewards
7.5% (705 million)
Allocated for Staking
6% (564 million)
PlayDoge’s whitepaper shows four roadmap phases and a sizable token allocation for presale (50% of the total supply), which shows an emphasis on attracting investors quickly.
Here are the core project features:
$PLAY as the main currency for in-game transactions and features
Passive $PLAY income by playing mini-games
Leaderboard rewards by winning minigames and gaining XP
To buy PlayDoge, go to the official website, connect your wallet, and specify the amount of tokens you want to buy.
You’ll receive your tokens on the BNB chain when the presale ends. Until then, you can stake your portfolio and wait for the minigame to launch in Phase 4.
$SHIBASHOOT is a new ERC-20 meme coin inspired by the Doge phenomenon.
Embodying the spirit of Marshal Shiba, it strives to conquer the crypto frontier with various community incentives (like a lottery system).
Recently launched on presale, $SHIBASHOOT is currently selling for $0.0194 per token. Early momentum is evident, with over $480K raised to date.
$SHIBASHOOT offers staking with up to 2,268% APY (expected to decrease as the pool grows), along with the Posse Rewards program that incentivizes community building by rewarding members for referring friends.
HODLers also get voting rights, access to ‘campfire story sessions,’ a chance to participate in the Lucky Lasso Lotteries, cactus staking, and saving saddlebags (an additional form of staking).
$SHIBASHOOT’s token allocation reflects the project’s commitment to long-term success, with over 20% (440M) allocated to staking and another 20% to marketing.
Tokenomics Features
$SHIBASHOOT Tokenomics Data
Maximum Supply
2.2B
Total Staked
14M
Estimated Staking Rewards
2,268% APY
Allocated for Marketing
20% (440M)
Allocated for Presale
35% (770M)
Allocated for Staking
20% (440M)
Allocated for Liquidity
10% (220M)
Allocated for Project Funds
10% (220M)
Allocated for Rootin’ Tootin’ Shooter Fund
5% (110M)
The project is one day away from the next price increase, and you can buy $SHIBASHOOT using $ETH, $USDT, $BNB, or fiat. Read the Shiba Shootout whitepaper and join the project’s Telegram channel for more information.
Base Dawgz ($DAWGZ) is a new Shiba-themed meme coin. It’s minted on Base but also runs on Ethereum, Binance Smart Chain, Avalanche, and Solana.
Minting $DAWGZ on Base is a smart move, given the network’s explosive adoption among degen investors. The market cap of meme tokens on Base has already surpassed a staggering $1.78B and is poised to break the $2B mark soon.
The market may be saturated with doge meme coins, but few offer multichain interoperability that promises smoother performance due to the distributed workload. On top of that, the potential applications of $DAWGZ seem limitless.
$DAWGZ presale started in June and quickly generated positive investor sentiment, raising over $37K raised in just one day. One $DAWGZ now sells for $0.00479, but the price is set to rise as the presale progresses toward its milestones.
ETH investors can stake their tokens immediately at a dynamic APY for passive returns.
To further incentivize user engagement, Base Dawgz plans to reward content creators with $DAWGZ tokens after the presale concludes.
Right now, Base Dawgz is in the roadmap second stage, focusing on the presale and marketing efforts. Once the presale wraps up, $DAWGZ sets its sights on securing listings on prominent DEXs and CEXs.
Read the Based Dawgz whitepaper for more information.
Sponge V2 is a successor to the $SPONGE meme coin, which soared to a remarkable $100 million market cap. The new iteration introduced the Stake-to-Bridge mechanism that links Sponge V1 holders with the V2 ecosystem.
The original $SPONGE token saw a huge price spike of 340% within a week of its release. However, as the hype faded, we saw an equally sharp price decrease.
Still, there remain over 11K unique holders and over 23K followers on Sponge’s X account. Community support led $SPONGE’s developers to rethink their approach and launch $SPONGEV2 in February 2024.
$SPONGEV2’s utility lies in staking rewards. The returns fluctuate depending on the number of staked tokens and stake duration but are estimated to be around 40% APY over four years.
Importantly, V2 is supposed to replace V1 rather than coexist with it. The only way for you to get $SPONGEV2 tokens is by permanently locking your V1 tokens to the new smart contract.
The V2 token surged 40% within the first 24 hours after its launch on the Polygon network. This represents a +3600% return on investment for those who staked their V1 tokens in May of last year.
Currently, $SPONGEV2 is unavailable on crypto exchanges. However, developers plan to list the token on Binance and OKX in 2024, along with launching a play-to-earn blockchain game. This could add even more appeal to the project.
The project is an ERC-20 token that offers a secure and transparent trading experience, with easy wallet integration, and a HODL-centric ecosystem.
Doge2014 aims to provide enthusiasts with a means to participate in commemorating this significant milestone in the history of Dogecoin.Doge2014 Whitepaper
Doge2014 has a total supply of 100B tokens, with a 60% presale allocation. This means over half of the total tokens will be sold during presale, encouraging early adoption for bigger profits.
According to the whitepaper, liquidity will maintain trading flexibility and market stability after listing, bolstering the token’s appeal to investors.
Tokenomics Features
Doge2014 Tokenomics Data
Total supply
100B
Presale
60% (60B)
Staking
25% (25B)
Liquidity
10% (10B)
Marketing
5% (500M)
1 $DOGE2014 is currently worth $0.00027, and you can buy it with $ETH, $USDT, or a card. Connect your wallet to the presale site, confirm the transaction, and wait for the presale to end to claim your tokens.
ORACLE MEME ($OMEME) launched its presale and raised over $242,312 in less than a day. It promises to become the ‘ultimate destination for meme enthusiasts.’
Meme AI generator with AI-powered suggestions, customization options, and sharing capabilities
L2 network compatibility, leading to faster and lower-cost transactions
Wallet on mobile and browser
Launchpad for other meme coins
OMEME’s total supply is 50B tokens, with 20B allocated for presale (40%) and 10B for staking rewards (20%). This should ensure the project’s initial popularity and stability beyond the presale.
$OMEME offers 986% APY in staking rewards. It ensures steady income during the presale phase, and the developers promise more features in the future, which should attract further investor interest.
Investors have staked over 760M $OMEME in less than 24 hours.
$OMEME has four roadmap phases. We’re currently in Phase One, and Phase Two will see the CEX and DEX listing, with upcoming stages delivering the promised features (like the meme AI generator in Phase Three).
ORACLE MEME looks like a promising project with positive community sentiment, but we’ll see if its presale succeeds.
10. Dogecoin ($DOGE) – The Original Meme Coin Trading at a 90% Bear Market Discount
While many meme coins are favored by short-term traders, $DOGE is considered a long-term project. $DOGE was launched in 2013 and is the original meme coin. It was created as a joke with no use cases or roadmap objectives. As such, the value of $DOGE remained minimal for many years.
But today, $DOGE is one of the largest cryptocurrencies by market capitalization. It also has one of the largest number of token holders in the cryptocurrency industry. It wasn’t until early 2021 that $DOGE truly blossomed. This was in the midst of the prior bull market, combined with Elon Musk’s regular tweets about the meme coin.
To illustrate its unprecedented growth, CoinMarketCap notes that Dogecoin was priced at $0.005 at the start of 2021. By mid-2021, $DOGE was trading at $0.74. That converts into gains of over 14,000%.
Right now, $DOGE is trading 90% below its former all-time high. This makes Dogecoin one of the best meme coins to buy for a potential long-term upside.
It’s worth noting that there’s no cap on $DOGE tokens in circulation, and each minute, miners can earn 10,000 tokens as block rewards. This leads to high inflation and a loss of value over time. Furthermore, the top 10 holders have almost 46% of $DOGE’s supply.
On the other hand, Elon Musk has hinted he plans to integrate $DOGE into the X app as a form of payment in the future. If this happens, we might see a new price spike.
11. Shiba Inu ($SHIB) – One of the Most Successful Meme Coin Stories to Date
Shiba Inu was created in 2020 by an anonymous developer calling himself Ryoshi in his Medium blog. The developer’s primary objective was to replicate the investment returns generated by Dogecoin. Although $SHIB initially had no use cases, the project was able to create an unprecedented amount of hype and demand.
As a result, $SHIB secured a billion-dollar market capitalization in under 12 months of launching. In fact, at its bull market peak, $SHIB was valued at over $40 billion. This translates into growth of millions of percentage points for early investors.
Today, $SHIB is trading at what some call a huge bear market discount of almost 90%.
Over time, the Shiba Inu developer team introduced Shibarium, a layer-two blockchain running on top of Ethereum. It lowered gas fees and allowed holders to stake their tokens, adding to $SHIB’s appeal. Still, $SHIB development and price mainly depend on community backing rather than utility.
One of $SHIB’s standout qualities is its total supply of a tremendous one quadrillion tokens. Right after its launch, 50% of the tokens were locked in the Uniswap exchange, and another 50% were transferred to Vitalik Buterin, the creator of Ethereum.
This raised concerns about centralization in the crypto space, but Buterin then burned 40% of the total $SHIB token supply.
Right now, $SHIB has a market cap of over $14 billion, and its 24-hour trading volume exceeds $1 billion. Despite the major price dip, the Shiba Inu community remains bullish about the coin.
12. RichQUACK ($QUACK) – 12% Sales Tax Shared With Token Holders for Passive Rewards
Launched in late 2021, RichQUACK is a meme coin based on Scrooge McDuck’s character. It’s 100% community-driven, and there’s not a single mention of its creators.
Unlike many other top meme coins, RichQUACK targets long-term investors. Its native token, $QUACK, carries a huge sales tax of 12%. This was installed to demotivate day traders from manipulating the market. Of the 12% tax collected from sellers, 4% is distributed fairly to $QUACK holders.
This way, investors earn passive rewards simply for HODLing. The remaining tax is allocated for liquidity, marketing, and project development.
But being a part of the RichQUACK community isn’t limited to holding and waiting — members can also participate in a lottery to test their luck and win some tokens.
RichQUACK has also developed an anti-whale mechanism. This restricts any single wallet from holding more than 1% of the total $QUACK supply. Additionally, $QUACK has a hyper-deflationary mechanism where 50% of the tokens in circulation are set to be burned.
With this approach, $QUACK managed to maintain its price very stable for two years, with no sharp spikes since 2022 yet no dips like those seen by meme coins like $DOGE.
Although $QUACK is unlikely to bring you 100X gains with this approach, its low volatility makes it stand out on the meme coin market. $QUACK may be worth your attention if you prefer investments with moderate risk but like the meme culture.
13. Dogechain ($DC) – Bringing Smart Contracts and Web 3.0 Tools to the Dogecoin Ecosystem
Dogechain is a layer-two blockchain network running on Polygon’s technology. This means that Dogechain is EVM-compatible and allows developers to build dApps and NFT platforms with $DOGE as part of their economic system.
It’s worth noting that Dogechain is not officially affiliated with Dogecoin, but is a separate project. It strives to complement rather than replace Dogecoin, which is only used for payments.
Dogechain’s native token, $DC, gives its holders staking and governance incentives. You can also use $DC to pay for gas fees.
Because $DC is a community-driven initiative, 58% of its total 1-trillion token supply is allocated for airdrops, staking rewards, and community grants. The rest of the tokens are reserved for marketing and development programs within the Dogechain ecosystem.
$DC price has been dropping since its launch in 2022. However, due to the token’s utility, the Dogechain community believes it may experience price spikes in the future.
Community members may have a point, because the $DC price grew 43% since last month and 17% within the last 24 hours. While it’s still 16% down from last year, the upward trend is evident.
14. Pepe ($PEPE) – The Fastest-Growing Meme Coin by Market Cap
Inspired by the famous frog, Pepe coin claims to be “here to make meme coins great again. Launched stealth with no presale, zero taxes, LP burnt and contract renounced, $PEPE is a coin for the people, forever.”
With its strong community of over 25,000 unique holders, $PEPE was among the most promising coins in 2023. Indeed, investors saw massive returns in March 2024, when $PEPE price surged to its all-time high of $0.00000997.
$PEPE is also one of the most highly traded cryptos to date. To provide some perspective, $DOGE took over three years to reach a market cap of $1 billion. In contrast, $PEPE reached this benchmark within weeks of its launch.
Despite $PEPE’s success, it has no real utility or a detailed roadmap. However, we have to admit Pepe’s plans are ambitious:
Phase 1: Meme
Phase 2: Vibe and HODL
Phase 3: Meme Takeover
The coin has a maximum supply of 420,690,000,000 tokens, of which 93.1% were allocated to a liquidity pool, and the remaining 6.9% to a multi-signature wallet.
$PEPE also has a deflationary mechanism where a small percentage of tokens is burnt with each transaction to create scarcity and increase the price of remaining tokens.
$FLOKI is one of the latest Shiba Inu-themed meme coins to emerge. It’s named after Elon Musk’s dog, Floki. $FLOKI is now listed on several major exchanges including Binance, OKX, Deepcoin, CoinW, and Bitrue, which adds to the trustworthiness of the project.
The team behind $FLOKI consists of crypto influencers and developers, among which are Byte Capital, Jackie Xu, and BPeta.
Floki Vikings, the official community behind the coin, counts over 4000,000 uniqueholders on BSC and Ethereum combined. Floki’s X account has over 530,000 followers to date.
Such popularity is easy to explain. $FLOKI may be a meme coin, but it’s doing some serious work as well. Developers rolled out a play-to-earn gaming metaverse Valhalla, named after the Norse home of the gods.
Additionally, the Floki team launched:
A set of DeFi tools called FlokiFi
An NFT marketplace called FlokiPlaces
An educational platform called the University of Floki
Floki prepaid cards that allow you to fund Visa and Mastercard with FLOKI tokens
It’s evident that $FLOKI focuses on utility as much as on fun. Apart from using $FLOKI as part of the dApp ecosystem, you can stake it and earn its sister-token TOKEN as a reward.
$FLOKI has a total supply of 1 trillion tokens, over 90% of which are now in circulation. In March 2024, the Floki team burnt 2% of the tokens to maintain the coin’s value. The same month, $FLOKI saw a price spike, reaching its all-time high of $0.0002964.
16. Dogelon Mars ($ELON) – One of the Earliest Meme Coins May See a Revival
Dogelon Mars appeared in 2021, during the initial meme coin craze. It’s also a character of a comic series listed for sale as NFTs. The project’s official purpose was to create an intergalactic currency for future space colonizers.
Like many meme coins, Dogelon’s native token, $ELON, didn’t have a specific use case at launch. You could buy it and sell it, but that’s the case with every digital currency. In 2023, developers introduced a staking mechanism.
Despite the limited use cases, $ELON’s community is strong with over 100,000 unique holders and over 466,000 followers on X.
The starting supply of $ELON was 1 quadrillion tokens. Developers sent half of these tokens to Vitalik Buterin, copying Shiba Inu’s stunt. Buterin then donated 43% of $ELON tokens to the Methuselah Foundation, a non-profit organization focused on extending human lifespan.
The other half is allocated for the liquidity pool on Uniswap. Dogelon Mars team then burned the liquidity provider tokens to demonstrate they weren’t going to commit a rug pull.
Although $ELON’s price was dropping throughout the last two years, it started to gain traction in 2024, which has raised hopes for a revival in the community.
17. Milady Meme Coin ($LADYS) – One of the Hottest Meme Coins RN, With 90% of the Community Bullish
Milady Meme Coin is a prime example of how quickly a meme coin can explode when it creates FOMO (fear of missing out) and has celebrity backing. After its launch, $LADYS price surged more than 5,250% within 24 hours following Elon Musk’s tweet.
$LADYS has no real utility other than as a means of exchanging and facilitating transactions. It has purely memetic value, which doesn’t stop $LADYS’ price from growing consistently with several huge spikes since its launch.
The spikes seem to be mainly influenced by demand-generating factors within the community, such as the Women’s Day celebration or the overall hype around meme coins. Either way, 90% of the community seems to be bullish about the coin.
$LADYS has a total supply of 888,000,888,000,888 tokens, 94% of which were sent to the liquidity pool. Later, these tokens were burnt.
Another 1% of the supply was distributed to $PEPE and Milady NFT holders, and the remaining 5% is used for future centralized exchange listings, bridges, and liquidity pools.
It’s worth noting that the $LADYS token is not officially affiliated with the Milady NFT collection.
There are hundreds, if not thousands of meme coins flooding the market, so it’s hard to identify those worth investing in.
The first challenge is figuring out if you can trust the teams behind these coins. Because of the decentralized nature of crypto projects, it’s too easy to fall for a scam.
Another issue is finding solid info on the coin performance, so it’s hard to know what’s real and what’s just hype.
That’s why we have a specific process of reviewing and vetting the best meme coins. Here are the key factors we consider.
Origin: We vet the teams behind each coin and look into the project’s history. While it’s not always easy, knowing the people involved can tell whether the project is credible and has potential.
Community engagement: A supportive community is an indicator of a sustainable project rather than an overhyped fad. Most importantly, the community should maintain its interest for a long time.
Functionality: Meme coins may or may not have real-world applications. For example, you can use $DOGE to pay online and $MEME to trade NFTs, but some meme coins have no purpose other than creating short-term hype that benefits their creators. That said, some meme coins with no utility can still generate returns on investment.
Tokenomics: We research how the tokens are distributed, their inflation/deflation rate, burning mechanisms, and the overall economic model of the project. Additionally, we analyze the performance trends of each coin to understand whether the project is reliable.
Expert recommendations: Finally, we rely on the expertise of our team. Their collective knowledge and experience allow us to make informed recommendations.
To help you compare the top meme coins of the year, we created a tokenomics table.
Put simply, meme coins are cryptocurrencies that follow a popular meme or trend. For example, the original meme coin, Dogecoin, is based on the Shiba Inu dog breed. Similarly, while Pepe is based on Pepe the Frog, Sponge has taken inspiration from the SpongeBob SquarePants franchise.
Either way, many meme coins are usually created without any real use case. In turn, investors usually buy meme coins for fun and for speculative reasons.
The hope is that more and more people buy the respective meme coin, pushing up its market value. This can happen when a meme coin project has a huge community following and media attention.
Meme coins with the highest market cap
For example, consider that when Shiba Inu was launched to the public in 2020, its primary objective was to become a ‘Dogecoin Killer‘. Nonetheless, investors bought $SHIB tokens in their droves, giving Shiba Inu a market cap of over $1 billion in under 12 months. Crucially, this highlights that the meme coin market is both unpredictable and irrational.
Some of the most successful meme coin projects have no utility or real-world uses, but have gone on to generate huge returns nonetheless. While meme coins won’t appeal to risk-averse investors, an effective strategy is to diversify across multiple projects. After all, only one meme coin needs to explode to make the process worthwhile.
Are Meme Coins a Good Investment?
We don’t give financial advice, so you should do your due diligence before purchasing any meme coin. While we thoroughly analyze each coin’s background and performance the crypto market is unpredictable, so meme coins are a high-risk investment.
In this section, we discuss why meme crypto coins are increasingly becoming popular with speculative investors.
High Growth Potential
It goes without saying that people buy meme coins to make significant returns. The hope is that the chosen meme coin will replicate the successes of Dogecoin and Shiba Inu. After all, these meme coins have created life-changing returns for early investors. These are returns that would take the S&P 500 many centuries to replicate.
For example, Markets Insider notes that Shiba Inu had generated returns of over seven million percent at its peak in 2021. This means an investment of just $10 would have been worth $70 million. While investors have missed the boat on Shiba Inu, there are many alternatives to consider.
Low Token Price
A key characteristic of most meme coins is they have a low token price. While this doesn’t increase the market potential of the meme coin, it does appeal to investors who want to purchase a large number of tokens.
Easy to Diversify
We mentioned earlier that there are hundreds of meme coins, and more are entering the market every day. While this makes it difficult to know which meme coin to buy, this makes diversification a breeze.
For example, suppose an investor has $500 to invest in meme coins. Investing the entire amount in one meme coin wouldn’t be smart.
After all, if the meme coin is not successful, the investor will be left with worthless tokens. Instead, a more risk-averse approach would be to buy 10 different meme coins at $50 each.
If just one of the chosen meme coins explodes, this can still yield returns.
Bear Market Discounts
There are some notable discounts available in the current crypto winter. This includes many of the meme coins discussed today. For example, Dogecoin is trading 90% below its former all-time high.
Some investors believe that when the next bull market arrives, Dogecoin will return to its prior peak. If it does, that would require an upside of over 900% based on current prices.
Top Meme Coins 2024: The Bottom Line
New meme coins appear almost every day, so finding those worth purchasing is challenging.
While many meme coins have no utility and lose their value right after launch, some, like Dogecoin and Shiba Inu remain on the arena for years.
Others, like Pepe Unchained, The Meme Games, and WienerAI, present novel use features and cases, integrating the latest technology to bring real value to the crypto community.
Although some meme coins can bring you profit under the right circumstances, it’s important to do your own research and understand the full risks associated with such high-volatility investments. Don’t invest what you can’t afford to lose is the rule number one.
Meme coins are cryptocurrencies known for their humorous or internet-inspired branding rather than their utility. Examples include Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). These coins often gain popularity through social media and online communities, attracting investors seeking speculative opportunities rather than long-term value.
What are memes coins?
Meme coins are cryptocurrencies that gain popularity based on internet memes and jokes rather than their underlying technology or utility. They often have playful or humorous branding, such as Dogecoin (DOGE) or Shiba Inu (SHIB). Meme coins are typically highly speculative investments and may experience rapid price fluctuations driven by social media trends and community hype.
Which meme coin will reach $1?
Predicting which meme coin will reach $1 is speculative and uncertain due to the volatile nature of cryptocurrency markets. However, Dogecoin (DOGE) has historically been the closest to reaching this milestone. Other meme coins like Shiba Inu (SHIB) and Pepe (PEPE) have also attracted attention but reaching $1 remains uncertain.
Is Memecoin a good investment?
Investing in any meme coin carries high risk due to its speculative nature and reliance on internet trends. Prices can be highly volatile, and gains are uncertain. It’s important to research the project and understand the coin’s market dynamics before investing. Only invest what you can afford to lose.
What are the best meme coins to buy now?
Presale data shows Pepe Unchained, The Meme Games, PlayDoge, and WienerAI are the best meme coins to buy now due to their explosive presales and early investor opportunities. However, it’s important to DYOR because the crypto market is volatile, and meme coins in general are highly speculative investments.
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The Tech Report editorial policy is centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written by real authors.
Lora is a writer based in Ireland. Her background in finance and interest in technology helps her present complex concepts in an intelligible and fun way, which is especially useful when it comes to the world of cryptocurrency and blockchain technology.
Starting as an agency writer, she soon branched out to freelance and later launched a family-run digital marketing agency.
In her spare time, Lora attends dance classes or immerses in reading, preferring technology news or postmodern literature.
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