Top 5 Crypto Meme Coins to Consider in 2024

Meme coins are one of the most noteworthy innovations of the crypto industry. No matter the number of cryptocurrencies existing in the market, they do not compare to the potential of profits one can make with meme crypto tokens in a short duration. Even though their origin is based on the viral meme culture, meme tokens often hold a strong sense of loyal community.

If you are looking for some of the best meme coins to buy in 2024, this article is for you. We will go through the top 7 meme tokens that hold immense growth potential in 2024.

Meme Coins Overview

Meme coins are developed and launched based on a humorous and viral meme trend circulating on the internet. Unlike traditional cryptocurrencies such as Bitcoin and Ethereum, meme tokens do not have a purpose and technological use cases behind their creation. Even though they are developed casually with lighthearted nature, they often build strong communities, driven by social media hype and their viral nature.

What started as a way to make fun of the crypto industry has now become an undeniable part of the crypto market. Some meme cryptocurrencies like Dogecoin and Shiba Inu have proved that meme tokens can acquire mainstream adoption and earn their place in the list of top 10 cryptocurrencies. Even though meme tokens are highly risky investments, they started appealing to the investors who seek to speculate and leverage the short-term growth potential offered by meme cryptocurrencies.

Top 5 Meme Coin List

We have curated the top 7 best meme coins list here, based on their market capitalization value from one of the top crypto aggregator platforms, CoinMarketCap. Adding to that, we will also explore and analyze the potential of each meme coin to grow by the end of 2024. You can check the profits realized by these coins with a crypto investment calculator .

Dogecoin (DOGE)

Dogecoin is one of the first-of-its-kind cryptocurrency, developed by software engineers Billy Markus and Jackson Palmer in December 2013. Their main intention behind the creation was to make fun of the extreme volatile nature of cryptocurrencies such as Bitcoin. It was inspired by the popular “Doge Meme”, featuring a Shiba Inu dog with captions in broken english.

However, Dogecoin evolved significantly from being a mere meme coin to becoming one of the top 10 cryptocurrencies and the top meme coin and in the crypto industry with a large market capitalization. Among the many reasons for its mainstream adoption and popularity, high-profile endorsements from top individuals such as Elon Musk play a huge role.

Dogecoin is used for various use cases such as online merchandise shopping, tipping, microtransactions, and fiat or other crypto exchanges. With a loyal community and multiple use cases, Dogecoin is set to experience an overall growth in further adoption in 2024.

Shiba Inu (SHIB)

Shiba Inu was developed in August 2020 on the Ethereum blockchain, by an anonymous developer named Ryoshi. Being represented by the face of a Shiba Inu dog and having a low price of cost, it quickly gained traction from the crypto community. Initially, there was no standard purpose behind its creation but to make it a decentralized and community-driven token.

However, this meme coin is now growing into a complete ecosystem of various decentralized projects. The team behind Shiba Inu made some considerable changes to its tokenomics by introducing Shiba Inu Burn Mechanism. Its tokenomics burns SHIB tokens regularly based on some predefined conditions to keep a check on its infinite supply. When Ethereum co-founder Vitalik Buterin burnt a large portion of SHIB tokens, the meme coin drew huge attention from the market.

It didn’t take long for SHIB to grow into the second top meme coin in the crypto industry. With a Shibarium layer 2 blockchain, ShibaSwap DEX, and a metaverse project in development, SHIB came far from being only a speculative meme coin. It holds immense potential to grow and acquire mainstream adoption, which makes it a profitable investment to make this year.

Pepe (PEPE)

The PEPE meme coin is relatively new compared to the first two meme coins. It was developed in 2023 based on the viral internet meme character “Pepe the Frog.” The token has no intrinsic value or a use case but was purely created based on nostalgia and virality of the Pepe frog meme. Despite that, PEPE token quickly gained traction and its price reached unbelievable highs within a few weeks after its launch.

PEPE is a clear example of how speculative meme crypto tokens could be based on short-term market hype and social media buzz. The token lacks utility and is also not backed by a strong team to develop the token like Shiba Inu. However, if the broader meme coin trend continues and the token gets some endorsements from popular individuals on social media, there is a high chance for PEPE to surge in value this year as well.

Dogwifhat (WIF)

Dogwifhat meme coin is one of the popular dog-based meme coins launched on the Solana blockchain in 2023. While all the other previous meme tokens are inspired by popular internet memes, Dogwifhat was created based on the popularity of meme cryptocurrencies such as Shiba Inu itself. The WIF token was launched by anonymous founders in November 2023, and it features a Shiba Inu dog wearing a hat.

Much like other meme coins, Dogwifhat has no purpose behind its creation nor does it have any applications or further plans of development. However, the token gained substantial popularity and a huge price spike in Feb and March of 2024. With the anticipation of a bull market and the resulting meme coin trend, the WIF token is set to increase in value in the coming few months.

Floki Inu (FLOKI)

Floki Inu meme coin was launched in 2021 to capture the hype around Tesla CEO Elon Musk’s pet dog Floki. The already existing meme coin buzz combined with the popularity of Elon Musk made Floki Inu one of the noteworthy meme coins in the industry. Even though the origin of Floki Inu is not that different from others, the token stood out from other tokens being referred to as “The People’s Crypto.”

Similar to Shiba Inu and its ecosystem development, Floki Inu also has an extensive “The Floki Ecosystem.” It consists of Valhalla NFT metaverse, TokenFi tokenization platform, FlokiFi DEX, University of Floki, Name Service, NFT marketplace, trading bot, and others. In case the project becomes successful in implementing these projects and gains traction in the crypto community, Floki Inu grows to be a significant meme coin investment this year.

Conclusion

Meme coins have become an undeniable part of the crypto industry, considering the popularity and adoption they gained over the years. However, they are profitable only when there is market hype, social media buzz, or bull market scenario. Nonetheless, the top meme tokens mentioned in this article serve best as a means to diversify your crypto portfolio and benefit when their price surges!

FAQs

What is meme coin?

A meme coin is a cryptocurrency created based on a popular meme or character on the internet, with no intrinsic value or use case.

Which meme coin will explode in 2025?

There is a potential for Dogecoin, Shiba Inu, and PEPE coins to explode in the upcoming bull market. However, we cannot estimate for sure since the crypto market is highly unpredictable and volatile.

Are meme coins a good investment?

Meme coin investment is highly risky and there is no guarantee that you can make profits for sure. However, if you can enter the market at the right time and leverage the short-term market hype of a particular meme coin, you can make profits.