Anyone who has been trading cryptocurrencies for a while will have come across meme coins. While some may seem strange - considering the vast majority offer no utility - some investors can't resist the urge to buy. If you are one of those curious traders looking for a good memecoin trade, we have the scoop for you. Likewise, if you want to watch altcoins, stay with us. This article presents the trends for popular memecoins and altcoins in 2024.
In this guide:
What is a memecoin?
How many meme coins are there?
What are the memecoins and altcoins of 2024?
Proceed with caution: potential risks of memecoins and altcoins
frequently asked questions
What is a memecoin?
Memecoin is a cryptocurrency inspired by online memes. These types of coins are often promoted on social media through influencers and celebrities. Many meme coins are created as jokes, and most do not provide any practical or real-life value. Additionally, they are highly speculative, which means they carry a large amount of risk.
When most people think of meme coins, they probably think of Dogecoin or Shiba Inu. However, since the market witnessed extraordinary gains from some of the top meme coins, more similar cryptocurrencies have emerged.
How many meme coins are there?
There are currently over 340 Meme coins traded on the cryptocurrency market. The top meme coins based on market capitalization include Dogecoin (DOGE), Shiba Inucoin (SHIB), Pepecoin (PEPE), and Flokicoin (FLOKI). With the exception of PEPE, these are all doge meme themed. Although there are a large number of meme coins on the market, only a few are worth trading.
Top 10 Meme Tokens Worth Investing in: CoinPedia
Bitcoin (BTC) and Ethereum (ETH) continue to lead the cryptocurrency market, accounting for 52.3% and 16.6% of the market share respectively. At the same time, memecoins are becoming important players, representing memes and symbols of community-led achievements within the crypto space.
What are the memecoins and altcoins of 2024?
The following tokens were selected based on a variety of factors, including market capitalization, popularity, and overall project success. We have included memecoins and altcoins (alternative cryptocurrencies) in this list.
1. Wall Street Meme (WSM)
Wall Street Memes: wallstmemes.com
The project intends to build a community around its native token $WSM and provide members with exclusive benefits in order to reach a market capitalization of US$1 billion.
Some of the benefits include access to a soon-to-open merchandise store selling hats, mugs and clothing. The coin was inspired by the infamous Gamestop short squeeze, in which the underdog challenged Wall Street’s strongholds. This is part of the same movement launch, leveraging an already built-in, active community. The project’s creators describe its move toward tokenization as emblematic of the retail movement’s resistance to Wall Street’s orchestrated monopoly on financial markets.
2. Chimpanzee (CHMPZ)
Pre-sale stage: Chimpanzee
Chimpzee cryptocurrency sustainability project, best known for its meme coin format, recently announced that its token sale was completely sold out. Chimpanzee ($CHMPZ), an impact-focused cyberspace operations platform, announced an impressive $2 billion in token burns during its vesting period.
Chimpzee is an altcoin, not a memecoin, that was born out of its team’s desire to prevent animal extinction and ensure environmental progress. The project has helped plant more than 1,000 trees to restore the rainforest. Additionally, the project donated $15,000 to the WILD Foundation to help protect the last remaining desert-adapted elephants.
Chimpzee benefits people while contributing to organizations that help fight climate change and save animals. Investors who want to participate in the event are encouraged to follow the project’s official Twitter/X account to learn about the latest developments before the official launch. As for the future, roadmap plans include a Chimpzee store, DEX/CEX, NFT minting, more donations, and more.
3. Dogecoin (DOGE)
Dogecoin (DOGE) is considered the king of all meme coins. It earned this title because it is among the top 10 cryptocurrencies by market capitalization ($8.7 billion). Dogecoin debuted in 2013 and was originally intended as a joke about a viral meme of a dog with the Shiba Inu logo. However, with its unique branding and marketing campaign, the coin quickly gained a large following on social media.
Doge rose to fame in 2021 as the price surged from $0.00268 to an all-time high of $0.7316. The project's success was largely due to online hype, with celebrities such as Elon Musk starting to promote the token. Dogecoin quickly became known as “the people’s cryptocurrency.” Our DOGE price prediction suggests that by 2025, the average price of Dogecoin will be between $0.15 and $0.20. We expect Dogecoin to maintain its relevance in the cryptocurrency market for the foreseeable future.
4. Shiba Inu (SHIB)
Shiba Inu’s market capitalization currently stands at $5.52 billion as of January 2024, according to CoinGecko. This large market capitalization indicates that the asset has significant value in the eyes of the market.
Soon after, the Shiba Inu became known as one of the few “Dogecoin killers” for his ability to outshine the memecoin king. Recently, the project has attracted market attention for announcing plans to expand its second-tier ecosystem. The project has an impressive resume, including a decentralized exchange (DEX), NFT series, Shiba Eternity game, Metaverse, and more.
5. PEPE
Launched in April 2023, PEPE quickly reached staggering heights of meme coin fame. The iconic Matt Furie "Pepe the Frog" meme inspired the logo. Currently, Pepe Token (PEPE) is ranked 2169th on CoinGecko, with a market capitalization of $1,548,335. This capitalization is calculated by multiplying the token’s price by its circulating supply, which is 900 million tradable PEPE tokens. The team describes it as “the most meme-worthy meme token in existence.”
PEPE’s price experienced a more than 4,000-fold surge in 2023, proving its enduring support. Notably, one investor purchased $5.9 trillion of PEPE for $27, which eventually turned into a whopping $1 million after the price increased. The maximum supply of PEPE is just over 420 trillion. Will PEPE Coin Lead the Meme Coin Market in 2024? While the full extent of this year remains to be seen, current trends suggest that the coin is on a bullish path.
6. FLOKI
As of January 22, 2024, FLOKI was trading at $0.000032 (FLOKI/USD), up 10.87% in the past 24 hours, according to CoinGecko. The real-time updated price of FLOKI against the US dollar has a market capitalization of US$307.72 million and a 24-hour trading volume of US$78.53 million. The circulating supply of FLOKI is 9,554.85 billion. And acts as a multi-chain ERC-20 and BEP-20 compatible token. As opposed to regular meme coins, floki inu offers real-life use cases. Its main utilities include FlokiPlaces, FlokiFi, and Valhalla.
Valhalla is a metaverse game where you can earn money while playing, and FlokiPlaces is its corresponding marketplace. Users can use its native token FLOKI to purchase physical goods. Additionally, FlokiFi is the project’s decentralized exchange, allowing investors to exchange digital assets for cryptocurrencies or lock cryptocurrencies in the Flokifi Locker.
7.Egg (TAMA)
The launch of Tamadoge has made a significant impact in the memecoin space, offering a unique combination of earn-while-playing functionality, NFTs, and augmented reality. Its ecosystem revolves around Tamadoge Pet NFTs, which players can cultivate and compete for rewards. Currently for sale on OpenSea, these ultra-rare NFTs will gain even more prominence next year via the Tamadoge AR app, elevating their status as top digital collectibles in 2024.
Additionally, tamadoge has its own NFT collection on OpenSea. TAMA Coin powers the Metaverse integrated gaming platform, which saw a massive 1,900% increase from its initial pre-sale price. TAMA has successfully ranked among the top 10 meme coins in the market based on daily trading volume alone.
