After the brutal crypto winter of 2022, meme coins began to pick up steam in 2023 and have been by far the best performing crypto assets in 2024, particularly assets like Bonk and Pepe which set new all-time highs and Dogwifhat which brought Solana meme coins into the limelight.
With so many old and new meme coins to choose from, this article simplifies things – listing the most popular meme coins worth adding to your watchlist this year. We shed light on the best meme coins you can buy right now, some upcoming launches, and the best platforms you can use to invest in meme coins cheaply.
Top Meme Coins to Invest In 2024: Meme Coin List
Below is the list of present and upcoming meme coins that we predict will explode in the meme coin and the crypto market in 2024. After going through this list of meme coins, we will also guide you on how to buy meme coins safely.
Out of all the best meme coins for 2024, these are the meme coins that will explode:
- Pepe Unchained – Leading Memecoin With a Pepe Themed Website
- The Meme Games – Olympic-Themed Meme Coin with Multiple Meme Athletes
- WienerAI – A Quirky Blend of AI and Meme Magic
- PlayDoge – The Meme Coin Gem Merging Doge and GameFi
- Shiba Shootout – Cowboy-themed Meme Coin with Many Perks
- Base Dawgz – Popular Memecoin With an Interoperability Concept
- Myro – Top Memecoin on the Solana Blockchain
- dogwifhat – No-Utility Memecoin Garnering Massive Attention
- Bonk – Doge-Themed Memecoin on the Solana Blockchain
- Pepe – Memecoin That Became the Fastest One to Reach a $1 Billion Market Capitalization
- Floki – Memecoin with its own NFT Metaverse
- Snek – Memecoin on the Cardano Blockchain
- Milady Meme Coin – Simple Memecoin going Viral in 2024
- Dogecoin – The Oldest Memecoin
- Bone ShibaSwap – DEX Coin for the Shibaswap Decentralized Exchange
- HarryPotterObamaSonic10Inu – Leading Memecoin Inspired by Multiple Cultural Phenomenons
- Tamadoge – P2E Meme Coin Recently Listed on Bybit
- Shiba Inu – Leading Memecoin With a Newly Released Shibarium Ecosystem
- Monacoin – Leading Memecoin in Japan
Best Meme Coins to Invest in 2024: An Analysis
The growing popularity of meme coins has triggered an investment frenzy, with people investing
significant sums into coins with greater return potentials.
Most conventional investors of the day seem more comfortable investing in well-reputed firms, such as Advanced Micro Devices Inc., Mastercard Incorporated, and CME Group Inc., for exposure to the crypto market. Yet the internet-savvy crowd from YouTube and Reddit are more interested in investing in meme crypto coins.
Our experts have created a well-thought-out list of the top meme coins after a thorough review and crypto analysis to get you the best investment predictions.
We have created a roll with brief information and the forecast for the following year to give you
some background and prediction for 2024 of meme coins that will help you make more planned investment decisions.
Pepe Unchained – Leading Memecoin With a Pepe-Themed Website
Inspired by the popular Pepe meme token, Pepe Unchained brings a fresh storyline where Pepe overcomes the limitations of its original blockchain by adopting a more efficient Layer 2 solution. This captivating theme resonates strongly with meme enthusiasts and highlights the project’s commitment to improving transaction speeds and reducing costs.
One of the unique aspects of Pepe Unchained is its Layer 2 blockchain integration, built on the Ethereum network. This technological advancement allows for faster transactions and lower fees while maintaining compatibility with Ethereum’s robust ecosystem. The Layer 2 solution enhances user experience and positions Pepe Unchained as a forward-thinking project in the memecoin category.
Staking is another attractive feature of Pepe Unchained. Early investors participating in the presale can stake their PEPU tokens to earn impressive APY returns. This incentivizes early adoption and fosters a committed investor community, supporting token liquidity and stability.
Currently priced at just $0.008 during its presale phase, Pepe Unchained has already raised over $400k in less than two weeks. Memecoins usually may have a short-term growth right after launch which them sees a massive decline, but investors seem to be highly bullish on this project even in the long term. This is because developers have teased potential utility integrations for PEPU in the coming months. Either way, given the increasing popularity of the project, it may not be surprising to see the project among the leading memecoins in the coming weeks after it gets launched officially.
The Meme Games – Olympic-Themed Meme Coin with Multiple Meme Athletes
One of the best meme coins to buy this year is The Meme Games, and not just because it is a meme coin project that blends multiple meme characters together, but also because it targets Olympic games watchers.
This approach can expose The Meme Games (MGMES) to even billions of investors. However, another interesting part of this project is how the Olympic theme is implemented. While The Meme Games could have made the entire ecosystem a track and field featuring meme characters, and that would have been enough, it has walked an extra mile to provide a unique gaming ecosystem that starts and ends during its presale.
The Meme Games invites investors to participate in its presale event and buy MGMES tokens. At the same time, investors can pick a meme athlete of their choice and sit back and watch while these athletes sprint across a blockchain-powered arena to finish in first place. Those who win will reward their backers with ample bonuses.
The addition of this bonus and a limited-time presale event mirroring a limited-time Olympic event makes The Meme Games the perfect short-term project, which perfectly fits the themes of what meme coins are. With no outlandish promises on the horizon and the goal being only to reach a $1 billion market cap to land on leading cryptocurrency exchanges, this meme coin embraces its meme nature while paying homage to the 2024 Olympics.
The project is simple, and even its P2E perks are easy to understand, which further adds to the appeal of this meme coin, making it fit for first-time investors as well. Those who are interested should visit memegamestoken.com to participate in this project.
WienerAI – A Quirky Blend of AI and Meme Magic
One new project that deserves a spot on every meme coin investor’s radar is WienerAI. This unique token has ingeniously combined two of the hottest crypto trends – dog-themed meme coins and AI projects – into one innovative package.
What sets WienerAI apart is its quirky yet compelling concept of fusing artificial intelligence capabilities with the beloved characteristics of dogs and the universally recognized appeal of sausages. This novel approach has captured the imaginations of crypto enthusiasts and meme coin traders alike, fueling a rapidly growing “Sausage Army” community.
Unlike other meme coins that have launched this year, WienerAI is offering a real use case through its AI-powered trading bot. This bot will cater to traders who seek to maximize their investments in the volatile crypto market.
WienerAI represents the perfect storm for a meme coin to go viral. Its silly, meme-worthy theme taps into the inherent appeal of dog coins, while its AI integration adds a futuristic, utility-driven element that could foster longevity. This powerful combination, paired with WienerAI’s strategic tokenomics designed to discourage pump-and-dump schemes through lucrative staking rewards, positions it as one of the most promising meme coin investments of 2024.
Currently, in a presale phase nearing its exchange listing, WienerAI has already generated significant hype and interest. Early investors have been able to acquire $WAI tokens at discounted prices, with the earliest participants earning generous staking rewards daily. As the project gears up for its imminent launch, all signs point to WienerAI being a top meme coin to watch this year.
PlayDoge – The Meme Coin Gem Merging Doge and GameFi
PlayDoge is a meme coin on the Binance Smart Chain (BSC) that merges GameFi with Doge’s playful spirit. Launched on May 28, 2024, it raised over $250K in its first day. As a BEP-20 token, PlayDoge boasts high efficiency and compatibility with the BSC ecosystem.
The tokenomics include a total supply of 9.4 billion $PLAY, with 50% for presale, 12.5% each for marketing and project funds, 11.5% for liquidity, 7.5% for community rewards, and 6% for staking. The project features a Play-to-Earn (P2E) mobile game where players earn $PLAY by caring for a virtual Doge and engaging in mini-games.
Staking offers a dynamic APY of 2,719%, making it attractive for investors seeking high returns. The roadmap includes four phases, with DEX listings in Phase 2 and the release of mini-games in Phase 4.
To invest, create a compatible wallet, transfer funds, visit the official PlayDoge presale website, select a currency, connect your wallet, and confirm the transaction. Tokens will be airdropped after the presale.
PlayDoge combines engaging gameplay with substantial staking rewards, making it a promising option for 2024. Always invest responsibly and do your own research.
Shiba Shootout – Cowboy-themed Meme Coin with Many Perks
Shiba Shootout is shaping up to be one of the best meme coins on the market, not just because of its viral themes. Granted, the image of a Shiba Inu slinging guns and riding horses across the frontier is captivating, but it is the multiple use cases that set it apart from the rest.
The main mascot of this project is Marshal Shiba, the face and leader of the community. The community members are called Shiba Sharpshooters, who are meme enthusiasts and cryptocurrency investors. This entire narrative is set in Shiba Gulch, a digital town in the crypto frontier, serving as the ground zero for engaging activities, including staking, social media post sharing, and gaming.
The way Shiba Shootout has woven the concepts of meme coin and gaming together is worth consideration. Not only does a cowboy-like setting lend itself well to the game, but the same setting can also be used to create more memes.
Due to this approach, Shiba Shootout has managed to raise upwards of $500k in record time. Investors are flocking to shibashootout.com, hoping to find the next big meme coin of this year.
Base Dawgz – Popular Memecoin With an Interoperability Concept
Base Dawgz stands out in the memecoin space with its thrilling and adventurous theme, inspired by the daring spirit of base jumping. This bold and energetic project captures the essence of innovation and excitement, making it an appealing choice for investors seeking something beyond the ordinary.
Investors may find Base Dawgz particularly enjoyable due to its unique approach of featuring mascots from multiple popular projects. This creative integration not only adds a fun and engaging element to the token but also taps into the existing fanbases of these well-known projects, enhancing community engagement and broadening its appeal.
Another aspect that makes Base Dawgz a compelling investment is its commitment to security and transparency. The project has undergone a thorough audit by a third party, providing an additional layer of assurance to investors. This audit helps to build trust and credibility, which are crucial in the highly speculative world of memecoins.
Conceptually, Base Dawgz is built around the idea of interoperability, operating across several major blockchains, including Ethereum (ETH), Binance Smart Chain (BSC), Solana (SOL), and Avalanche (AVAX). This multi-chain support ensures seamless interaction across different decentralized ecosystems, setting it apart from other memecoins and enhancing its utility.
Base Dawgz combines a captivating theme, popular project mascots, a secure and transparent audit process, and a promising concept. These elements make it a great memecoin worth buying right now, offering significant potential for both enjoyment and investment returns.
Myro (MYRO) – Top Meme Coin on the Solana Blockchain
Despite the ongoing market conditions, Solana has been a crypto project that has been seeing considerable growth. Naturally, this has also provided a boost to other projects built on the blockchain, with the best example being Myro. Myro is a memecoin created based on the name of Solana founder’s dog, Myro. The project was launched in late 2023 and has since experienced a major pump.
Myro comes with staking and an automatic buying bot, along with promises of further utility being integrated into the project in the upcoming months. The project managed to rise by more than 1000% within a span of just 2 months, which is why the attention of the wider crypto community quickly fell onto the project. At the time of writing, the MYRO token is among the top projects built on the Solana blockchain and one of the most adopted memecoins.
Speculations of the token potentially reaching a $500 million market cap soon are apparent, which would mean another 5X increase from its current market cap of $100 million. Given the project’s increasing popularity and scope of growth, it is likely that Myro will be a top gaining memecoin in the next couple of weeks if the market remains stable with Solana on the rise simultaneously.
dogwifhat (WIF) – No-Utility Meme Coin Garnering Massive Attention
dogwifhat is one of those crypto projects that launch as memecoins with no apparent utility or roadmap but still manage to garner hype and thrive in any market conditions. These projects may not survive in the long run unless they start developing use cases on top of the project; however, they can be excellent short-term investments, and that is exactly how a majority of the community seems to be viewing this token.
With a growing market cap which has now exceeded $280 million, this project is already among the leading memecoins in the space despite its recent launch and lack of utility elements. The project’s website simply has some random text about the token being among the best investment options to consider. It has already made it to several popular websites while amassing a massive social media following.
Currently priced at $0.28, the WIF token is being speculated to have a pump in the foreseeable future, with prices potentially exceeding $1. While the investment may not make sense for many, it can be a great option to consider for those who invest in memecoins and are willing to take the risk factor involved in such investments.
Bonk (BONK) -Doge-Themed Meme Coin on the Solana Blockchain
Unlike most other meme coins, Bonk (BONK) uses the Solana (SOL) blockchain for better speed and affordability. The crypto project does not have any identifiable founder, which is relatively common in the crypto world. Most recently, the project launched bonkbot.io, one of the most competent and performant Telegram bots in the crypto world.
The Bonk (BONK) token was introduced to the open market in late 2022, opening at $0.0000001095 on the 30th of December 2022. The token later ended the year with its price tag reading $0.00000019 on the 31st of December 2022.
Check out our Price Prediction Guide for Bonk.
The Bonk (BONK) token was worth $0.00000095 at the start of 2023 and has come a long way since then. The token recently overtook PEPE, with its market cap reaching $100 million higher than PEPE. Most recently, Moonshot, a popular cross-chain crash game, announced a promotional event where participants can win 150 million $BONK tokens.
Check out our guide to discover how you can buy Bonk this year.
These developments indicate a bullish run for Bonk (BONK) in 2024, with many experts suggesting its prices will reach $0.0000017 by 2024.
Pepe (PEPE) – Meme Coin That Became the Fastest One to Reach a $1 Billion Market Capitalization
PEPE is another prominent meme coin that has recently lost its place to Bonk (BONK). The total supply of PEPE tokens stands at 420,690 billion tokens, which are all in circulation. What sets PEPE apart from other meme coins is that it is based on frogs instead of dogs.
The meme coin has garnered unmatched attention with its extensive potential of helping you get a return of 1000x in less than a week’s time. The frog-based meme coin has been around since April 2023 but has managed to make significant strides in this short time.
The PEPE token has experienced a lot of volatility in the past few days, with prices ranging from a minimum of $0.00000071 to a maximum of $0.00000042. But you can’t ignore the fact the token has a staggering market cap of about $600 million, which is a significant development.
Most experts suggest that the PEPE token will have a bullish run in 2024, with its prices ranging from $0.0000015 to $0.0000042 throughout the year. This certainly shows a significant growth potential for the token in 2024.
Floki (FLOKI) – Meme Coin with its own NFT Metaverse
Floki is a well-known meme coin named after Elon Musk’s Shiba Inu dog to replicate Shiba Inu’s and DOGE’s success. The primary intent behind the launch of the project was to incentivize every stakeholder, including users and holders.Formerly known as Floki Inu, the crypto projects have recently brought forward multiple enhancements. But one of the most notable of this development is the FlokiFi Locker, which helps facilitate staking within the ecosystem. More recently, the project was listed on the Binance Innovation, giving the token’s valuation a further push in the right direction.
As of December 2023, the FLOKI token is worth around $0.00004, with a bullish market sentiment working in the token’s favor. This has led many experts to believe that the token might reach a maximum trading price of $0.00009 next year.
Snek (SNEK) -Meme Coin on the Cardano Blockchain
Snek is among the most popular meme coins launched on the Cardona blockchain. The community-driven coin strives to provide stakeholders with a rewarding experience and create relationships that benefit everyone.
Despite the meme coin being a relatively new player, its strides have recently gained the attention of many.
The Snek (SNEK) meme coin will likely come from the market’s bullish sentiment, which will be reflected in its prices in 2024. Given these developments, most experts are optimistic the token will reach a valuation of $0.0023 and average on that benchmark throughout this year.
Milady Meme Coin (LADYS) – Simple Meme Coin going Viral in 2024
Milady Meme Coin (LADYS) is one of the latest additions to the list of performant meme coins in 2024. The project was initiated on the 5th of May, 2023, and the contract was released on the 7th of May, 2023.
This unique digital currency draws inspiration from the internet culture, especially the meme culture. The token consolidated during most of the second and third quarters of 2023 but is now going through a major upswing.
Based on these events, most experts are optimistic that the Milady Meme Coin (LADYS) will benefit from the bullish market sentiment in 2024. That growth, however, depends on how long the community stays around in favor of this memecoin.
Dogecoin (DOGE) – The Oldest Meme Coin
This is the oldest meme coin, which traces its inception back to 2013. Starting as a humorous counterpoint to conventional cryptos, Dogecoin (DOGE) has certainly come a long way since its inception and defied many expectations along the way.
2021 was one of the most happening years for Dogecoin (DOGE) as it became one of the most valuable market capitalizations. This token has a bright future going ahead as long as prominent personalities continue to promote it in the right light. However, this also makes determining a token’s price movement difficult, as a single tweet can change everything in a second.
As of January 2024, Dogecoin (DOGE) is worth $0.081, with an impressive market cap of $11.4 billion. Most market indicators show that Dogecoin (DOGE) prices might reach $0.24 next year as long as the bullish sentiment continues.
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Bone ShibaSwap (BONE) -DEX Coin for the Shibaswap Decentralized Exchange
Bone ShibaSwap (BONE) is another prominent Ethereum-based crypto token coexisting with other tokens in the Shiba ecosystem. The token has been around for quite some time and recorded an all-time high value of $15.5 on the 7th of July 2021.
The token was then forced to face a market downturn during the crypto winter. It was only in 2023 that it was once again able to take a rising trajectory. However, the overall performance of this token is still in the sideways zone.
Hoping that the Bone ShibaSwap (BONE) latches onto the bullish market sentiment, things are looking well for the token in 2024. Our analysis shows that the Bone ShibaSwap (BONE) token can potentially be worth more than $1 in 2024. It also seems likely the token will continue to trade over that mark throughout the year.
HarryPotterObamaSonic10Inu (BITCOIN) – Leading Meme Coin Inspired by Multiple Cultural Phenomenon
HarryPotterObamaSonic10Inu (BITCOIN) is a relatively new meme coin that incentivizes users to create new meme content. This community-driven crypto project strives to push for staking partnerships that benefit every stakeholder. The community strives to create a unique ecosystem for active community members to meet, team up, and share the rich Coinlore.
As of January 2024, a HarryPotterObamaSonic10Inu (BITCOIN) token is worth $0.06 after a massive drop in its valuation.
Based on the technical analysis of our crypto experts, it seems likely the HarryPotterObamaSonic10Inu (BITCOIN) token will be worth $0.24 if the market continues a bullish run. Yet, if things go wrong for the token, its prices might stall at $0.1 throughout the year.
Tamadoge (TAMA) – P2E Meme Coin Recently Listed on Bybit
Coming onto the scene with a woof, Tamadoge is the latest entry into the meme coin ecosystem. This play-to-earn meme token enables users to take care of a meme pet similar to the notorious Tamagotchi toy, which was popular in the 1990s.
Under the Tamadoge ecosystem, players mint “Tamadoge pets” that are built as Non-Fungible Tokens (NFTs). Every month, users will be able to breed, train, and combat their Tamadoge NFTs for the highest spot on the scoreboard.
Unlike other meme coins, Tamadoge features a real deflationary mechanism that burns 5% of tokens following each in-game purchase of pet food from the Tamadoge shop.
The ERC-20 token, TAMA, sold out its presale in record time and is now listed on OKX as well as a dozen other crypto exchanges.
Given its interesting play-to-earn mechanisms and impressive roadmap, Tamadoge appears to be one of the top low-cap cryptocurrencies of the year. That, and the fact that this token has been covered by CNBC, where it was said that this memecoin has the potential to make 10x to 50x gains, has gotten many heads turning.
However, the token had to face the bad macroeconomic conditions at the end of 2022 due to the crypto winter. The token has now been showing signs of recovery, however, as many of its projects are being realized. The token is currently consolidating around $0.011, and it may experience a parabolic increase in 2024 if things get better.
Tamadoge has also dropped its ultra-rare and rare collection of Tamadoge NFTs that you can purchase on Opensea. It is important, however, to use the official links on tamadoge.io to buy those NFTs since several copycats have already emerged.
Tamadoge started a streak of getting listed on top cryptocurrency exchanges and now has gone live on ByBit.
Shiba Inu (SHIB) – Leading Meme Coin With a Newly Released Shibarium Ecosystem
Shiba Inu may be your best bet if you want to invest in a cryptocurrency getting more popularity than most others. The coin was just listed on Kraken, which has helped it gain even more traction. Furthermore, AMC (NYSE:AMC) will take Shiba Inu as payment beginning this quarter. This move follows an agreement between Bitpay, a cryptocurrency payment service, and AMC CEO Adam Aron.
SHIB’s financial backers, such as Bigger Entertainment, have been instrumental in reducing supply in recent months by giving millions of SHIB-USD.
Shiba Inu coin gained public attention as a meme coin in 2022. The coin had an all-time high price of $0.000084 on October 28th, 2021. That’s a 150,000,000% rise from August 2020, when it was first released.
According to the overall graphic, Shiba Inu expanded quicker than Dogecoin in market cap. Both dominate the global meme coin narrative and are highly volatile due to the lack of value other than speculation and transaction objectives.
However, the token has gone up big this year thanks to Bitcoin gaining more support and the macroeconomic conditions around crypto getting better. That said, it may be too soon to say if its price will go beyond $0.00001.
Many crypto researchers and professionals are concerned about an impending massive correction due to the quick ascent of the Shiba Inu coin price.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
Mona coin – Leading Meme Coin in Japan
MonaCoin (MONA) is a peer-to-peer (p2p) payment network and an open-source, decentralized cryptocurrency. Mona Coin is a hard fork of Litecoin launched in January 2014 with no pre-mine process.
It is based on an algorithm called Lyra2RE (v2) and is based on a hard fork of Litecoin. Mona Coin users constructed various MONA-based web applications and services due to the strong fanbase, considerably increasing the project’s usability.
Although Mona Coin is a fork of Litecoin, and Litecoin is a fork of Bitcoin, MonaCoin has a far higher circulation and maximum supply than Bitcoin and Litecoin. Furthermore, MonaCoin employs its hashing method.
To ensure transparency, fairness, and safety, MonaCoin (MONA) employs the Dark Gravity Wave (v3) and Lyra2RE (v2) algorithms.
In terms of performance, MonaCoin has fared well this year. However, it is possible that its performance in 2024 will continue to be in volatile zones.
We’ve also written recent posts covering:
Dead Meme Coins Investors need to be Aware of
Thousands of cryptocurrencies find their way to the market every day, but we rarely hear of most of those projects. It is only the successful crypto projects that garner public attention and are used to drive growth. As a result of all these, the market is left with many dead meme coins that failed to make their marks.
The primary reason behind these meme coins’ downfall is their bearish market performance. Therefore, an investor must remain mindful of the dead meme coins and avoid investing in them. Some of the latest of these dead meme coins include;
- Samoyedcoin
- Doge Killer
- ERC20
- Pepe 2.0
- Pepe 3.0
- Kishu Inu
- Dogs of Elon
- Dogelon Mars
- Baby DogeCoin
- Kitty Inu
- RefundCoin
It is of the uttermost importance that investors avoid investing in these tokens and instead go for crypto projects with utility. You must look for projects that offer value to stakeholders with effective mechanisms such as staking. This will help stakeholders grow their wealth while simultaneously driving the crypto project’s success.
What are Meme Coins?
It is not much surprising for many people to know that several Meme coins have outperformed even conventional cryptocurrencies such as Bitcoin and Ethereum in terms of popularity. Shiba Inu and Dogecoin, the top two meme cryptocurrencies, are now among the top eleven by market capitalization, according to Coinmarketcap.com.
Read ahead as we discuss answers to questions such as what meme coins are, are they worth investing, and where they fit into the market.
Meme coins are digital currency based on popular social media jokes, sarcasm, and puns. There are currently 1372 meme coins available. Shiba Inu and Dogecoin are two of the most well-known meme coins on the market.
The market position of Meme Coins
Dogecoin, which began as a joke in 2013 and had a market value of nearly $35 billion, is ranked No. 10 by CoinGecko. It is currently trading at roughly 27 cents. At the same time, the rival token Shiba Inu, created in 2020 by an anonymous individual known only as ‘Ryoshi’ to mock.
Dogecoin is currently ranked No. 9 with a market cap of nearly $14 billion. It is closely followed by Shiba Inu, which currently ranks 16 on the trading charts by market capitalization.
Overall, the total market capitalization of all the currently available memecoins is around $24.3 billion.
Best Exchange for Investing in Meme Coins
Investors today have more options than ever before to buy meme coins. Our pick for the best crypto trading platform is eToro:
eToro – Best Place to Buy Meme Coins
eToro offers a complete trading experience with over 3,000 tradeable assets, including 75+ cryptos, stocks, and exchange-traded funds. In terms of meme coins it has listed SHIB, DOGE and more.
We recommend eToro for both social copy and cryptocurrency trading, and it is our top pick in both categories. Its user-friendly web platform and the eToro mobile app are ideal for casual and beginner investors.
Club members and prominent investors who gain higher tier rank are eligible for VIP-style benefits.
eToro can copy trading strategies of investors, which makes it easier as trading meme coins is hard, and you need to monitor the market in the short term for Elon Musk tweets and so on to understand the predictions.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
Risks of investing in Meme Coins
Meme coins are typically produced by copying and pasting code from another cryptocurrency and, therefore, usually not serious, significant enterprises. They lack strong developer communities, which are essential for keeping them secure. Dogecoin development, for example, has come close to a halt at many points over its history.
Secondly, many meme coins are owned by few people with massive, market-moving amounts of currency and thin liquidity pools. This makes meme coins vulnerable to pump-and-dump scams, in which a single or a group of significant coin holders excites the cash, encouraging others to buy and inflating the price before selling all of their holdings on the open market.
Meme Coins don’t build much support on the way up during their bull cycle and have high percentage drawdowns like DOGE and SHIB had during their early periods.
How much you should invest in Meme Coins
Meme coins are not appropriate for those who want to invest in cryptocurrency as a hobby or to store wealth over time. It might be better to stick with more stable cryptocurrency investments like Bitcoin or Ethereum.
Even the more established cryptocurrencies are subject to significant volatility. Traditional investment strategies, such as stocks and index funds, are also more cautious and reliable options for those who don’t want to risk their money on the volatile cryptocurrency markets.
That said, after Bitcoin’s recent surge beyond the $40k mark, there have been multiple memecoins on the rise, which means there should be some room for investment that can bring big gains within the short term.
Therefore, a reasonable trading allocation could be roughly 5% of your whole portfolio. So, if your portfolio is worth $10,000, you should spend no more than $500 on a single meme coin.
Nonetheless, investors should be aware of the hazards involved and research each meme currency they wish to trade. Consider the possibility of losing nearly all of your initial investment. We hope you found this meme coins list helpful.
Conclusion
Memecoins are often seen as joke tokens. That is the right perception. But there is no denying that once the community rallies behind them, the gains are almost always parabolic. Many earlier tokens reached highs in the second quarter of 2023 when memecoin mania appeared. However, better memecoins like Pepe Unchained could potentially outperform them.
FAQs
What is a memecoin?
Any cryptocurrency inspired by an internet meme is known as a meme coin. While these tokens have no utility, a significant community backup helps drive their valuation.
Are memecoins good investment?
There are many variables at play when considering investing in memecoins. For instance, the tokens have no utility, which doesn't give them a long-term appeal. Secondly, they are purely driven by the community, which means one wrong move often leads to massive crashes. However, when the time is right, and indicators show that people are interested in memecoins, these assets can be considered great investments for the short term.
Are there risks of trading memecoin?
There are inherent risks of trading any cryptocurrencies, but that goes double for memecoin. Due to their perceived lack of utility, most traditional investors don't take it seriously. And the market's volatility has a massive impact on their prices. However, the community supporting the memecoin can pump its value to a parabolic level. So, yes there are risks of trading memecoins. But it is still recommended for short-term and low cap investors.
What is the best memecoin in terms of ROI?
The best memecoin in terms of ROI has always been Dogecoin. This OG memecoin was the first one to appear and has experienced massive parabolic gains in the past, which has paved the way for other crypto assets of similar nature. At its all-time high, DOGE rose by 9772% in the second quarter of 2021
What is the newest memecoin to enter the space?
There have been multiple memecoins this year. But the newest one among them to garner interest in Pepe Unchained.
What is the top trending memecoin right now?
The top trending memecoin on CoinMarketCap is Dogecoin, followed by Shiba Inu, and BONK. Bonk is a Doge-themed memecoin on the Solana blockchain which has exploded near the end of 2023. It can potentially create a new memecoin mania next year.
Is Shiba Inu dead?
Shiba Inu has had a rough go as of late. However, it continues to be popular among the memecoin community, and is the second trending memecoin after Dogecoin. So no, we can't say that it is dead. Also, after the introduction of Shibarium, more utilities are coming to the Shiba Inu ecosystem, which can potentially revitalize the token's value in the market.
Should I sell my Dogecoin?
Dogecoin is the world's leading memecoin that has witnessed some surge thanks to Bitcoin gaining more ground. However, this surge is not that big. The token's current behavior is not as volatile. However, it has experienced pumps thanks to Elon Musk's Twitter antics in the past, and continues to do so. So, those who have lost out on the gains when DOGE reached all-time high, we recommend waiting for another announcement and selling their DOGE tokens. However, if there is some utility introduced, the token can move up even higher - which would be a great incentive to hold your tokens right now.
Do memecoins have utility?
The answer to this question is subjective to the type of meme tokens we are talking about. Memecoins were initially designed to be a joke asset to foster community engagement. A project like Pepe Unchained, which offers a meme-theme along with utility can be a great example of such a category of investments.
