1. Dogecoin (DOGE) – Top of the world
- Market cap: $23.26B
First on the list of our top memecoins 2024 is Dogecoin (DOGE) – the OG of all memecoins in the crypto space.
Dogecoin was the first meme coin created, featuring the famous meme of a Japanese Shiba Inu dog. It was originally intended as a joke to gain mainstream attention in 2013 and has since rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes.
Dogecoin saw a remarkable rally back in the bull run 2017 amidst the Initial Public Offering (IPO) boom with an over 1,494% increase. The original meme coin peaked at $0.018 and broke $1B in market cap in January 2018. Yet it soon after lost most of its value during the crash of 2018. However, during the period of 2021, the golden age of cryptocurrencies, DOGE re-established its rally and rose by 9,884% in just 4 months. By May 2021, the coin reached an all-time high (ATH) of $0.74. Currently, DOGE is being traded at $0.143.
“At its heart, Dogecoin is the accidental crypto movement that makes people smile!”, says Dogecoin.
Nevertheless, the coin’s technical capabilities helped it become a viable medium of exchange rather than a sole light-hearted joke. Dogecoin’s comparatively low transaction fees and fast block times led to its wide adoption. Over the years, DOGE developers have expanded the coin’s utilities as now Dogecoin payment integrations are provided by third parties like BitPay or Coinbase. Several cards are supporting Dogecoin as a funding source, and users can also use this meme coin to purchase on e-commerce platforms.
2. Shiba Inu (SHIB) – The so-called DOGE killer
- Market cap: $14.89B
The Shiba Inu (SHIB) coin, created in August 2020, is an Ethereum-based crypto named after the Japanese dog breed. After Dogecoin, SHIB is probably the world’s most recognised meme-inspired crypto token.
Shiba Inu is often considered a viable alternative to DOGE, or some might call it the “Dogecoin killer”. The token was developed by the pseudonymous Ryoshi and in August 2020. Despite its recent launch, the token is now the second largest memecoin and the 11th largest cryptocurrency by market cap.
SHIB serves as the native and governance token for the Shiba Inu network. The project has its decentralised exchange (DEX) called ShibaSwap and a metaverse named Shib the metaverse where you can buy your own lands and engage in exclusive activities.
3. Pepe Coin (PEPE)
- Market cap: $5.12B
PEPE has been one of the fastest growing cryptocurrencies since its inception. This token is an Ethereum-based memecoin inspired by the popular internet meme of a green cartoon frog, a symbol of the internet culture and humour.
According to their official website, the Pepe Coin is designed to be the “most memorable memecoin in existence” and has no intrinsic value:
“PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
However, this doesn’t mean that this memecoin isn’t worth investing in. Recently, a trader has turned $462 into $3.4 million in Pepe, which is a 7,368X gain, according to data from Lookonchain. Pepe currently has over 226,000 holders with its X followers recently exceeding 600,000, highlighting a vibrant community.
As of writing, the memecoin is being traded at $0.0001265 and is ranked as the 22nd largest cryptocurrency by market capitalization.
4. Dogwifhat (WIF)
- Market Cap: $2,454,904,230
Dogwifhat (WIF) has emerged as a prominent player in the memecoin market. Thanks to its strong community support, the cryptocurrency has swiftly climbed the ranks to be the fourth-largest memecoin by market capitalisation.
This Solana-based token made a remarkable debut in 2023 with a substantial surge from a low of $0.2 to a high of $2.09, a 10.45X increase. This rise was not a mere result of hype but also attributed to sustained interest from whales and the overall strength of the Solana network. As of writing, this memecoin is being traded at $2.46 per token.
5. FLOKI (FLOKI)
- Market Cap: $2B
It turns out that most of the major memecoins is linked back to the Dog-meme. Floki is another dog-theme memecoin that was named after Elon Musk’s Shiba Inu puppy.
Floki Inu was initially launched as a memecoin but has evolved to a fully-fledged Web3 project with its own decentralised finance (DeFi), non-fungible token (NFTs), and the famous metaverse Valhalla.
The native token of the project, FLOKI, is a multichain token operating on both the Ethereum and Binance Smart Chain networks, as it is both ERC-20 and BEP-20 compliant. This unique feature allows FLOKI holders to store and make transactions easily using either blockchain.
The beginning of 2024 saw exceptional growth, increasing about 730%. The token is currently up by nearly 650%. The meme coin is now traded at $0.00021 per token.
6. Bonk (BONK)
- Market Cap: $1.78B
Bonk (BONK) is a Solana-based meme coin designed to infuse fun and community engagement within the Solana ecosystem. Launched in late 2021, BONK was inspired by the popularity of Dogecoin and Shiba Inu, aiming to replicate their success by leveraging the high-speed, low-cost transactions offered by Solana.
The primary goal of BONK is to foster a vibrant and active community. The project distributes a significant portion of its tokens to the Solana community, including Solana developers, NFT creators, and enthusiasts, to incentivize participation and create a broad base of stakeholders.
The memecoin also aims to establish utility beyond its ‘meme’ status. The team behind BONK is working on various initiatives to introduce more practical uses of the token. These include potential integrations with decentralised finance (DeFi) platforms, NFT marketplaces, and other decentralised applications (dApps).
Community engagement is a cornerstone of BONK’s strategy. The project actively encourages user participation through social media campaigns, community events, and interactive challenges. This approach has helped BONK gain a loyal following and generate significant buzz within the crypto space.
The meme coin is now traded at $0.00002619/token.
7. Book of Meme (BOME) – The new rising star
- Market Cap: $744,604,234
Book of Meme emerged as the new rising star of the crypto memecoin world. It is an experimental project created by Darkfarms (PEPE memes’ father) looking to reshape the web3 area by combining meme coins and decentralised storage solution. User-submitted memes images are embedded in the Book of Meme using Arweave and InterPlanetary File System (IPFS), and they will then be permanently preserved on the blockchain.
BOME is the native token of the Book of Meme ecosystem. The token operates on the Solana blockchain and has recently emerged as a new rising memecoin star with a 3,000% surge in value within days of its inception on 10 March 2024. BOME’s value is now $0.01077.
BOME is dedicated to preserving the dynamic and creative nature of meme culture by immortalising memes on the blockchain. This ensures that these cultural artefacts are safeguarded and accessible to future generations. The token also embraces decentralised storage technologies to uphold principles of autonomy and censorship resistance.
BOME encourages active community involvement through activities like “degen shitcoin trading” and gambling. This engagement strengthens the community bond and contributes to the project’s vitality and evolution.
