Date : 09 June 2024

Meme coins have made their mark, and it looks like they’re here to stay in the dynamic world of cryptocurrencies. A quintessential part of the crypto market, meme tokens like Dogecoin and Shiba Inu have firmly cemented their positions among the top cryptos by market cap and contributed significantly to driving mass adoption of crypto assets among users worldwide.

These digital currencies, inspired by internet memes and pop culture references, continue to gain significant attention long after the 2021 crypto bull run and seem all set to herald the bull run in 2024. At the time of writing, 7 of the top 10 best-performing cryptocurrencies in the market over the past 24 hours are memecoins. Since December 2023, the trading volume of memecoins has been trending higher. It spiked sharply on 1 March, crossing $641 million amid rising optimism in the crypto market and the potential arrival of altcoin season.

This blog post explores what meme coins are, their investment potential, and how to find meme gems early. It also highlights some of the top memecoins listed on Binance and many other crypto exchange platforms.

What Is a Meme Coin?

A meme coin is a type of cryptocurrency that derives its name, theme, or branding from popular internet memes or cultural references. These coins often have unique and catchy names, making them stand out in the crypto market. Memecoins typically aim to create a community-driven and fun environment for investors while capitalizing on the viral nature of memes to gain popularity and traction.

Top Meme Coins to Trade in 2024

In 2024, the cryptocurrency market has seen hype of meme coins from Solana and other ecosystems, attracting a significant number of traders and investors. We’ve selected a list of hot memecoins based on their price performance, user base, market cap, and recent upgrades.

Bonk (BONK)

Bonk (BONK) emerged as a notable memecoin in the aftermath of the FTX collapse at the end of 2022, aiming to uplift the Solana ecosystem during a challenging period. Launched with an innovative airdrop strategy, BONK distributed half of its token supply to creators of non-fungible tokens (NFTs), investors, and key figures within the Solana community to foster growth and engagement. The project was designed to counteract the dominance of few, promoting widespread use and development within the Solana blockchain by integrating with DeFi, gaming, and other decentralized applications (dApps). Created by Dexlab under anonymous founders, Bonk Inu seeks to establish a more inclusive and distributed community support system, with plans for a BonkDAO to guide its future development​​​​.

BONK's utility extends beyond the typical memecoin narrative; it aims to serve as the primary asset across all dApps on Solana, encouraging both existing members of the Solana community and newcomers to engage with the blockchain. The tokenomics of BONK include a vast supply of 100 trillion tokens, with significant portions dedicated to supporting the Solana ecosystem, including NFT projects, DeFi users, and developers. Despite comparisons to other popular memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), BONK distinguishes itself by focusing on supporting the development of the Solana network and its community rather than solely acting as a speculative asset. As of early 2024, despite a dip from its all-time high, analysts predict a promising future for $BONK, expecting it to set new records and contribute significantly to the resurgence of the Solana ecosystem​​​​.

Pepe (PEPE)

Pepe (PEPE) is a memecoin that has quickly risen to prominence in the cryptocurrency market since its launch in mid-April 2023. The project is inspired by the "Pepe the Frog" meme, a popular internet symbol, and has garnered attention by leveraging the meme's established community. Despite the project's claim of having no utility or known team and being created purely for entertainment, its market performance and key developments suggest otherwise.

Following its launch, PEPE experienced a rapid increase in value, with its market capitalization exceeding $420 million in less than three weeks, securing its place among the top 100 coins by total market capitalization at that time. This growth was propelled by its listing on notable crypto exchanges like Binance, which increased its accessibility and trading opportunities​​​​. As of March 2024, Pepe’s market cap exceeds $2.75 billion, having grown by over 11,500% since its launch last year and by over 632% in the past month alone.

The PEPE project incorporates features like the Pepe Bridge, which connects Ethereum, BNB Chain, and Arbitrum, facilitating the easy transfer of PEPE tokens across these networks. This interoperability is part of what has attracted investors, alongside the memecoin's integration into meme culture and its ability to tap into the viral appeal of internet memes. Despite its initial presentation as a project without direct utility, PEPE has introduced mechanisms such as staking, where token holders can earn rewards and a redistribution system that rewards long-term holders and contributes to the token's price stability. This combination of viral marketing, cultural resonance, and community engagement has positioned PEPE as a notable player among memecoins, contributing to its popularity and speculative investment potential despite the volatile nature of such assets.

Notcoin (NOT)

Notcoin is a new memecoin within the TON ecosystem, introduced in 2024 and quickly attracting over 35 million users. You can earn Notcoin by playing a simple game directly within the Telegram app, where clicking on an animated coin generates tokens. This integration makes it very accessible, especially for those new to cryptocurrencies. Bitcoin allows users to mine tokens through simple clicks within the Telegram app, making it accessible even to those new to cryptocurrencies. This memecoin has capitalized on the playful and engaging aspects of digital currencies, offering an easy entry point to the blockchain world for beginners​. Notcoin was listed as Binance and many other exchanges.

The game's appeal lies in its simplicity and integration with the widely-used Telegram platform, allowing users to earn Notcoin through interaction with an animated coin. Despite its classification as a memecoin, Notcoin has sparked significant interest and investment, reflecting its potential beyond just a digital collectible​. The project aims to transition from a game within an app to a recognized cryptocurrency on the TON blockchain. This move could potentially give real-world value to the Notcoins collected by users, further enhancing the appeal of the game and the overall TON ecosystem.

FLOKI (FLOKI)

Floki (FLOKI) is a memecoin that has distinguished itself within the cryptocurrency space through a unique blend of community focus, utility, and charity initiatives. With a Viking-themed community, Floki aims to extend its popularity far beyond just trading and memes. It has built a comprehensive ecosystem that includes a 3D NFT metaverse, DeFi utilities, educational content, NFTs, and a merchandise store. The project strongly emphasizes charitable actions, committing to building schools worldwide, starting with locations in Guatemala and Nigeria. Available on both the Ethereum and BNB Chain, Floki boasts a circulating supply of 9.57 trillion tokens out of a total supply of 10 trillion. The project incorporates a trade tax of 0.3% on decentralized exchanges and has implemented token burns to reduce supply and potentially increase value​​.

In terms of market performance, Floki experienced a 287% gain over the past year, taking its market cap to $1.54 billion. Despite facing challenges like regulatory scrutiny in certain regions, Floki's commitment to real-world utility and global charity has kept investor interest alive. The coin's ability to leverage meme culture while providing tangible utility through its ecosystem components sets it apart from many peers. As the cryptocurrency market grows in value and prominence, Floki's approach of blending internet culture with practical applications and charitable actions positions it as a noteworthy player among memecoins heading into 2024​​.

Dogwifhat (WIF)

Dogwifhat (WIF) emerged as a new entrant in the memecoin space, launching on the Solana blockchain in November 2023. It quickly garnered attention for its playful premise—a Shiba Inu character adorned with a hat, symbolizing a fun and uncomplicated approach to cryptocurrency. Unlike other cryptocurrencies that might carry a deeper socio-economic message, Dogwifhat's appeal lies in its simplicity and the whimsical nature of its theme. The project aims to stand out in the crowded memecoin market by leveraging the viral potential of internet culture without the pretense of disrupting the financial system. This straightforward and entertaining approach has resonated with a segment of the crypto community, leading to a significant market cap of $1.83 billion shortly after its launch, making it the fifth most popular memecoin as of early 2024​​.

The token's market performance has been notable, with its price increasing by over 994% since its launch as of early March 2024. In its relatively short time on the market, WIF achieved an all-time high of $1.85 in March 2024, showing a remarkable increase from its all-time low of $0.0677 in January 2024. Dogwifhat's popularity among investors can be attributed to its inclusion on major cryptocurrency exchanges like Binance, which has significantly boosted its visibility and trading volume. Dogwifhat has carved out a niche for itself in the Solana ecosystem, benefiting from the blockchain's high transaction speeds and low fees​​.

Wen (WEN)

Wen (WEN) is yet another popular memecoin from the Solana ecosystem, crafted as a unique blend of crypto culture and community engagement. Launched with a significant distribution event, WEN tokens were airdropped to over a million wallets, creating a widespread base of holders from the outset. This strategic move, along with the coin's engaging backstory and community-focused utilities, contributed to a remarkable 500% surge in its value shortly after launch, peaking at $0.0001378. The $WEN coin has registered an over 458% growth in the past month and a total growth of over 478% since launch, which saw it reach a market capitalization of nearly $200 million, underlining its popularity and rapid adoption within the Solana network​​​​.

WEN differentiates itself with a backstory that resonates with the crypto community's common queries and anticipations, symbolized by its name. The project's launch was not just about introducing another token but also about enhancing the Solana ecosystem's capabilities, notably through the introduction of a new fractional NFT standard. This innovative approach aimed to democratize ownership within the community, reflecting the communal aspect of crypto culture.

Coq Inu (COQ)

Coq Inu (COQ) has emerged as a notable player in the memecoin market, operating on the Avalanche C-Chain and marking its position as the first memecoin on this platform. Launched by a community-driven initiative, Coq Inu distinguished itself by providing liquidity to its entire coin supply. This led to an impressive market capitalization exceeding $218 million as of early 2024, following a growth of over 634% since launch. The project's total supply has surpassed 69 trillion tokens, indicating a significant level of participation and interest from the cryptocurrency community​​​​.

The appeal of Coq Inu among investors and the broader crypto community can be attributed to its innovative approach and the utility of its native token within the Avalanche ecosystem. Despite its playful nature, typical of memecoins, Coq Inu has gained attention for its potential in the digital currency market, offering a unique alternative for investors looking for a mix of humor and opportunity. The project has seen significant transformations within the meme coin space, contributing to its rising popularity and the growing trend of new meme coins moving towards newer blockchain platforms like Avalanche, known for more affordable gas fees and higher transaction speeds​​​​. Coq Inu stands out in this landscape for its early adoption of the Avalanche platform and its successful community-driven launch, positioning it among the trending meme coins as we move further into 2024​​​​.

Memecoin (MEME)

Memecoin (MEME), launched by 9GAG's CEO Ray Chan, has rapidly grown into a notable presence within the cryptocurrency meme sector, boasting a market capitalization of $200 million shortly after its launch and over $578 million at the time of writing. It was introduced to the market through a unique distribution strategy that included a firesale event and airdrops, aiming to distribute the supply and encourage participation within the ecosystem. The total supply of Memecoin is set at 69 billion coins, which are being released gradually over 18 months according to a vesting schedule. This strategy is designed to stabilize the price by preventing oversaturation. The coin's innovative launch has allowed early participants to realize significant returns on investment, underlining the strategic release approach to sustain the ecosystem's value and avoid price crashes​​​​.

The ERC-20 compatible token has leveraged 9GAG's significant online community, capturing the attention of crypto enthusiasts worldwide. With its value rising by over 154% in the past month, Memecoin has positioned itself among the top meme tokens, driven by its connection to the viral content platform 9GAG and creative engagement strategies like firesale pricing and airdrops to select token holders. The project's future, including its utility and integration into wider ecosystems, remains a focal point for its valuation and sustained interest within the meme coin market​​​​.

Baby Doge Coin (BABYDOGE)

Baby Doge Coin (BABYDOGE), launched in June 2021, has rapidly emerged as a significant player in the meme coin space, drawing inspiration from its "meme father," Dogecoin. Built on the BNB Chain for fast transactions and lower gas fees, Baby Doge aims to impress with its hyper-deflationary mechanism that rewards holders directly, enhancing its attractiveness and utility within the crypto community. The project's mission extends beyond the digital world, focusing on aiding dogs in need and showcasing a blend of cryptocurrency innovation and social impact​​. BABYDOGE has registered gains of over 107% over the past month.

The performance of Baby Doge Coin has been noteworthy, with a significant surge in its market value throughout 2023. By early 2023, BABYDOGE saw a remarkable 345% increase year-to-date, propelled by a combination of factors, including increased decentralized exchange volume, DeFi activity, and visibility on Binance's trending list, despite not being listed for trading on Binance itself. This surge in interest and value has pushed Baby Doge Coin into the ranks of the top 80 crypto assets by market capitalization. A notable development for the project was the launch of a community token burn portal, where the team promised to burn additional tokens in response to community burns, further driving interest and investment in BABYDOGE.

Silly Dragon (SILLY)

Silly Dragon (SILLY), a Solana-based memecoin, emerged in the cryptocurrency landscape with a notable entrance in December 2023, quickly capturing the attention of investors and traders within the digital asset community. Its launch was marked by a significant value increase, achieving a market capitalization of nearly $10 million within weeks and experiencing a staggering 900% surge in value just two days after its debut. Although it trades lower from its ATH, SILLY is still up by over 62% in the past month, with its market cap just above $61 million. The coin's popularity was fueled by its embodiment of internet culture and social media trends, particularly leveraging the appeal of meme-driven investment strategies. Unlike traditional cryptocurrencies, Silly Dragon focuses on the power of memes and internet humor, incorporating popular online jokes into its branding and identity. This approach has attracted a younger, internet-savvy audience, contributing to its rapid rise in the crypto space​​.

The financial journey of Silly Dragon has been marked by extraordinary stories of success, including a trader who turned 1 SOL (approximately $62 at the time) into a staggering 43 million SILLY tokens, ultimately reaching a value of $2 million in just 22 days. This meteoric rise propelled the market capitalization of SILLY past the $123 million mark. While some community members speculated about the role of insider trading, the coin's success story underscores the volatile and unpredictable nature of the cryptocurrency market. The genesis of Silly Dragon can be traced back to a tweet by Anatoly Yakovenko, Solana's CEO, which proclaimed 2024 as "the year of the silly dragon," further emphasizing the playful and engaging nature of this memecoin. Silly Dragon's approach, focusing on community and culture, has sparked debates within the crypto community regarding its sustainability and potential as a long-term investment​​.

Book of Meme (BOME)

Book of Meme (BOME) is an experimental memecoin that blends memes, decentralized storage solutions, and degen shitcoin trading and gambling into a unified ecosystem. This project seeks to preserve the dynamic nature of meme culture in a digital collection known as the BOOK OF MEME, immortalizing each entry on the blockchain. With BOME available on Solana, and employing Arweave and IPFS for primary storage, it sets a precedent for creating a decentralized social media sphere based on meme culture for content and interaction. $BOME was launched around mid-March 2024, experiencing a 44,000% rise in value during its pre-sale, taking its market cap surge to over $618 million within a week. At the time of writing, interest in the memecoin remains high, with its 24h trading volume exceeding $2.7 billion.

The memecoin was launched with a mission to harness the power of decentralized technology to safeguard and perpetuate the ever-evolving meme culture. By utilizing blockchain technology, it aims not only to entertain but also to provide a new form of engagement and value exchange within the web3 ecosystem. The integration of BOME into the Solana blockchain and plans for future expansions to Bitcoin inscriptions underscore its ambition to offer immutable forever storage, making every meme shared through its platform an enduring part of digital history​​.

MAGA (TRUMP)

The Trump MAGA memecoin has significantly impacted the cryptocurrency world by leveraging the political brand of former President Donald Trump. This memecoin, which rides on the wave of political events and Trump's considerable media presence, has seen an extraordinary market performance. As of early 2024, MAGA experienced a remarkable surge of over 800% within 30 days, peaking at an all-time high price of $11.15 in March from a starting price of just $0.252 in January. Since its launch, MAGA has risen by over 66,000%, and its market cap has soared to over $461 million as of March 2024.

Mechanism Capital, a crypto hedge fund, disclosed a unique investment strategy focusing on Trump-related meme coins and NFTs, predicting that Trump's ability to monopolize media attention, especially during the U.S. presidential election cycle, would drive interest and value in these assets. This strategy is not predicated on Trump's success in the elections but rather on his continuous media presence, which is expected to keep these tokens in the spotlight. The fund's approach highlights the intersection of politics, investment strategy, and meme culture within the cryptocurrency space. Despite the potential risks associated with such investments, including the possibility of Trump disavowing the coin, MAGA memecoin's market cap soared to $96 million, demonstrating its substantial traction within the crypto community​​​​​​.

Evergreen Favorite Meme Coins: Dogecoin and Shiba Inu

Over the years, many meme coins have come and gone. While some have fizzled out, some have managed to hold on to their charm. But no other meme coins have captured the market’s attention quite like Dogecoin and Shiba Inu. DOGE and SHIB have undoubtedly established themselves as perennial favorites among the global crypto community.

Dogecoin (DOGE)

Originally created in 2013 as a light-hearted parody of cryptocurrencies, Dogecoin has now become a force to be reckoned with in the market. What was once considered a joke has transformed into a symbol of community-driven digital currency. Its delightful Shiba Inu dog logo and the Doge meme references have won the hearts of investors and internet enthusiasts alike.

Dogecoin's enduring popularity can be attributed to its strong community, which actively engages in social media campaigns, charitable projects, and fundraising initiatives. Notable events such as the DOGE community's sponsorship of NASCAR driver Josh Wise back in 2014 and the recent involvement of prominent figures like Elon Musk have further propelled the coin into the mainstream.

The "DOGE-1 Mission to the Moon," funded entirely with Dogecoin, was launched by SpaceX in Q1 2023, further cementing its utility and market presence. A significant driver of optimism around Dogecoin is its strong community support, which continues to grow globally. Rumors of Twitter accepting Dogecoin as a payment option following Musk's takeover resulted in a price spike, demonstrating the community's influence on its valuation.

Shiba Inu (SHIB)

Inspired by Dogecoin, Shiba Inu emerged as a meme currency in 2020, gaining rapid attention from the crypto community. With its cute Shiba Inu dog logo and a rapidly growing community, SHIB has garnered a significant following.

One of the standout features of SHIB is the ambitious "Dogecoin Killer" tagline, which aims to rival Dogecoin's popularity and market position. The project's developers have implemented unique tokenomics, including a decentralized ecosystem called the "ShibaSwap," designed to give holders greater control over their assets and incentivize long-term participation.

A key focus for Shiba Inu in 2024 is the introduction of digital identity through .SHIB top-level domain names, in collaboration with Web3 startup D3 Global. This initiative aims to bridge the gap between Web2 and Web3, allowing SHIB holders to utilize customizable domain names across various platforms, including email clients, online stores, and Web3 dApps. Additionally, Shiba Inu has made headlines with its record-breaking token burns in 2023, a strategy aimed at reducing supply and potentially increasing the value of the remaining tokens. Over 76 billion SHIB tokens were burned throughout the year, with a significant spike in the SHIB burn rate observed towards the year's end.

While DOGE and SHIB have amassed substantial popularity, you should approach them with careful consideration as investments. As leading meme tokens, their value can fluctuate rapidly, and it is crucial to conduct thorough research and make informed decisions before allocating funds.