Memecoins have become the biggest topic in the cryptocurrency space due to their ridiculousness and explosive rally. However, they are not yet the largest category of tokens. In fact, memecoins are ranked 21st in the cryptocurrency market by market cap.
Nonetheless, the emergence of memecoins has been volatile, and on the surface, 2025 could be a crucial year for their growth. Therefore, BeInCrypto analyzes the top meme tokens on top chains and how they are performing.
Solana Meme Coin
Solana meme coin takes center stage, with tokens like Pudgy Penguins, Fartcoin, and Gigachad taking over the cryptocurrency market this year. But the only coin that has surpassed them all is POPCAT. The latter has managed to gain 6,000% so far this year.
POPCAT Price Growth.
In mid-November, POPCAT successfully rose to $2.10, reaching a new high. However, since then, this meme coin has underperformed, currently down 64%, trading at $0.74.
Therefore, it is somewhat challenging to regain the peak and rise further in the short term. However, as long as the altcoin can reclaim the support level of $1.00, it has a chance to recover and grow.
POPCAT Price Analysis.
The narrative for Solana meme coins is becoming stronger, which could provide POPCAT with the necessary momentum to recover to $2.10 or even higher. However, if the creators show profit-taking in the coming days, this recovery may be challenging, leading to a decline in POPCAT's price.
Ethereum Meme Coin
Ethereum is the largest source of meme coins, featuring leading coins like Dogecoin and Shiba Inu. However, the breakout token on this chain is SPX6900 (SPX), which has grown 9,362% year-to-date.
This altcoin has followed the trend and successfully attracted the interest of meme coin enthusiasts. This has made it one of the top 15 meme coins globally, with a market cap of $748 million.
SPX Price Growth.
As of the time of writing, SPX is trading at $0.80, having hovered below the $0.91 mark for the past two months. Despite a market uptick, the short-term outlook for this meme coin is not optimistic.
Breaking above $0.91 is crucial for SPX to return to its historical high of $1.19, which is nearly 50% above the current price. The key support level for this meme coin is $0.56, which has kept this altcoin stable for most of the recent period.
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SPX Price Analysis.
Losing this support could invalidate the bullish argument and lead to significant losses for investors. It could also result in increased sell-offs, as SPX holders may choose to secure their profits.
Due to the biases and precedents established by older meme coins, Ethereum will continue to dominate this space. However, with significantly lower costs on the Solana chain, Ethereum may face more intense competition from Solana.
Base Chain
Meme coins based on the base chain have not achieved significant growth like Ethereum and Solana. However, Brett (BRETT) is one outstanding meme coin, achieving an unprecedented 12,800% growth in the past 12 months.
BRETT Price Growth.
BRETT is currently trading at $0.125, well below the historic high of $0.236 reached this month. This meme coin relies on broader market bullish signals to return to its peak.
This altcoin currently maintains above $0.100, which is the key support level for BRETT, and it is unlikely to fall below this level. However, significant sell-offs by investors could lead to a price drop below $0.100, which might shake investor confidence.
BRETT Price Analysis.
Given Ethereum's dominance and Solana's advantages, Base Chain may struggle to dominate this space. However, it will be interesting to see how Base meme coins develop by 2025.
Other notable meme coins:
Pepe (PEPE)– An Ethereum-based meme coin that has risen 1,140% year-to-date.
Fartcoin (FARTCOIN)– A Solana meme coin that has entered the billion-dollar market cap club.
Bonk (BONK)– A Solana meme coin that still ranks among the top 5 meme coins.
Turbo (TURBO) – An Ethereum meme coin that has risen 2,800% year-to-date.
