Anyone who has traded cryptocurrencies for a while has inevitably come across meme coins. While many meme coins seem strange — after all, most have no real use — some investors still can’t resist the temptation to buy them. If you’re a curious investor looking for quality memecoin deals, we’ve got the inside scoop. Meanwhile, if you want to keep an eye on altcoins, stay tuned. In this article, we’ll take a look at the most popular meme coins and altcoins of 2024.
In this guide:
What is meme coin?
How many meme coins are there?
What are the meme coins and altcoins of 2024?
Proceed with caution: Potential risks of memecoins and altcoins
Frequently asked questions
What is meme coin?
Memecoins are cryptocurrencies inspired by internet memes, often promoted by influencers and celebrities on social media. Many memecoins were originally created as a joke, and most have no real use or real-world value. In addition, they are highly speculative and therefore come with significant risks.
When it comes to meme coins, many people first think of Dogecoin or Shiba Inucoin. However, since some of the top meme coins in the market have achieved extraordinary gains, similar cryptocurrencies have continued to emerge.
How many meme coins are there?
There are over 340 meme coins currently trading on the cryptocurrency market. The top meme coins by market cap include Dogecoin (DOGE), Shiba Inucoin (SHIB), Pepecoin (PEPE), and Floki (FLOKI). With the exception of PEPE, all of these coins are themed around the Dogecoin meme. Despite the large number of meme coins on the market, only a few are actually worth trading.
Bitcoin (BTC) and Ethereum (ETH) continue to lead the cryptocurrency market, accounting for 52.3% and 16.6% of the market share respectively. Meanwhile, memecoins have gradually become important players in the market, reflecting both the influence of online memes and the achievements of community-led cryptocurrencies.
What are the meme coins and altcoins of 2024?
The following coins were selected based on a variety of factors, including market capitalization, popularity, and overall project success. We have included both memecoins and altcoins (alternative cryptocurrencies) in this list.
1.WSM
The project aims to build a community around its native token $WSM, with a goal of achieving a $1 billion market cap and attracting participation by offering unique benefits to members.
These benefits include access to a soon-to-open merchandise store that will offer hats, mugs, and apparel. The token, inspired by the infamous Gamestop short squeeze, embodies the courage of the underdog against Wall Street. It is part of the same movement, leveraging the already established and active community. The project creators see this tokenization move as a symbol of the retail movement’s resistance to the financial market monopoly orchestrated by Wall Street.
2.CHMPZ
Chimpzee, a crypto sustainability project known for its meme coin, recently announced that its token sale has been fully sold out. Chimpanzee ($CHMPZ), an impact-focused web platform, claims to have destroyed 2 billion tokens during the vesting period.
Chimpzee is an altcoin, not a memecoin, that aims to prevent animal extinction and promote environmental progress. The project has helped plant more than 1,000 trees to restore rainforests. In addition, Chimpzee has donated $15,000 to the WILD Foundation to protect the last population of desert-adapted elephants.
While bringing benefits to people, Chimpzee also contributes to organizations that fight climate change and save animals. Investors who want to participate can follow the project's Twitter/X official account to get the latest information in time before the official launch. The future roadmap includes Chimpzee store, DEX/CEX, NFT minting, and more donation activities.
3.DOGE
Dogecoin (DOGE) is known as the king of all meme coins, with a market cap of $8.7 billion, making it one of the top 10 cryptocurrencies by market cap. Dogecoin debuted in 2013 as a pokemon of the viral meme featuring a Shiba Inu dog as its logo. However, with its unique brand image and successful marketing strategy, the coin quickly attracted a large following on social media.
Dogecoin has had an impressive year in 2021, with its price soaring from $0.00268 to an all-time high of $0.7316. The project's success has been largely due to the online buzz, especially the promotion of the coin by celebrities like Elon Musk. Dogecoin has quickly become known as the "people's cryptocurrency". According to our price prediction, the average price of Dogecoin is expected to be between $0.15 and $0.20 by 2025. We believe that Dogecoin will continue to maintain its important position in the cryptocurrency market for the foreseeable future.
4. SHIB
According to CoinGecko, as of April 11, 2024, the Shiba Inu has a market cap of $16,364,695,460, ranking 13th. This impressive market cap highlights the importance of this asset in the market.
Shiba Inu was recently hailed as one of the few "Dogecoin killers" for its potential to surpass the king of meme coins, "Dogecoin". Recently, the project has attracted market attention and announced a Layer-2 plan to expand its ecosystem. Shiba Inu has a number of notable achievements, including decentralized exchanges (DEX), NFT collections, Shiba Eternity games, and the Metaverse.
5. BABY
Pepe (PEPE) was launched in April 2023 and quickly became a popular choice for meme coins. Its logo is derived from Matt Furie's classic "Pepe the frog" meme. Currently, Pepe Token (PEPE) is ranked 2169 on Coingecko and has a market cap of $1,548,335. This market cap is calculated by multiplying the token price by its circulating supply, and the number of PEPE tokens currently available for trading is 900 million. The team calls it "the most meme-friendly coin in existence."
In 2023, PEPE's price surged more than 4,000 times, proving its enduring market support. It is worth noting that one investor bought 59 trillion PEPE tokens at $27, and as the price rose, the investment eventually increased in value to a staggering $1 million. The maximum supply of PEPE is slightly over 420 trillion.
Additionally, PEPE’s price on Coinbase International quickly rose as the offshore arm of cryptocurrency exchange Coinbase International announced it would introduce a perpetual contract market for the popular meme coin on April 18. PEPE’s value immediately jumped nearly 10% following the announcement, though it subsequently gave back most of those gains. The development fueled hopes among traders that it could herald an imminent listing for the fourth-largest meme coin, which has a market cap of $3 billion.
Will PEPE lead the meme coin market in 2024? Although the overall trend this year remains to be seen, the current trend shows that the coin is in a bullish state.
6.FLOKI
According to Coingecko, as of April 11, 2024, FLOKI is trading at $0.000032 (FLOKI/USD).
With a circulation of 9554.85 billion, FLOKI is a multi-chain token that complies with the ERC-20 and BEP-20 standards. It is different from ordinary meme coins because it provides real use cases. Its main functions include FlokiPlaces, FlokiFi and Valhalla.
Valhalla is a metaverse game where you can earn money while playing, and FlokiPlaces is the corresponding market where users can use the native token FLOKI to purchase physical goods. In addition, FlokiFi is the project's decentralized exchange where investors can exchange digital assets for cryptocurrencies or lock cryptocurrencies in FlokiFi lockers.
7. CORRECT
The launch of Tamadoge has had a profound impact on the meme coin space, combining a unique combination of play-and-earn functionality, NFTs, and augmented reality. Its ecosystem revolves around Tamadoge Pet NFTs, which players can cultivate and compete for rewards. These rare NFTs are currently listed on OpenSea, and they are expected to become more prominent with the launch of the Tamadoge AR app next year, thereby enhancing its status as a top digital collectible in 2024.
Additionally, Tamadoge has its own NFT collection on OpenSea. The TAMA token, which powers the Metaverse integrated gaming platform, has seen a massive 1,900% increase in price since its initial pre-sale price. TAMA has consistently ranked among the top ten meme tokens in the market based on daily trading volume.
Proceed with caution: Potential risks of memecoins and altcoins
When a new meme coin or altcoin is promoted, it is easy for social media influencers to sway market sentiment. However, many of these currencies do not offer real-world value or practical use, so caution is needed when trading them. While some people have found success, most investors ultimately suffer losses. This is because the value of many of these currencies is primarily derived from social engineering, and they are often susceptible to market manipulation and sell-off scams, resulting in extremely volatile prices.
However, this does not mean that there are no solid projects and profit opportunities, including the tokens on this list. Always make sure to fully research the project and take effective risk management measures.
