Top Memecoins to Keep an Eye On in 2024

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before buying or trading cryptocurrencies.

As memecoins enter what some experts call a “memecoin supercycle” phase, 2024 is shaping up to be a pivotal year for these viral cryptocurrencies. Building on the foundational concepts discussed in Part 1, we now turn our attention to the top memecoins making waves in the market. This article provides insights into the most promising memecoins of 2024 and explores why they are capturing the attention of traders worldwide.

Recap of Memecoins 101

In our previous article, Memecoins 101 Guide: Should You Care?, we discussed:

• Definition of Memecoins: Cryptocurrencies inspired by internet memes and viral trends.
• Roles and Benefits: Serve as gateways for new users, foster community engagement, and offer emotional value.
• The Memecoin Supercycle: Highlighted by Murad Mahmudov, suggesting memecoins are in a phase of unprecedented growth.
• Risks: High volatility, lack of fundamental value, market manipulation, and transparency issues.

Understanding these aspects is crucial as we delve into the top memecoins making headlines in 2024.

Top 10 Memecoins in 2024

Here are the top memecoins as of October 2024, showcasing the latest trends and popular tokens dominating the market. The total market cap is at $58 billion, and with top 4 memecoins (DOGE, SHIB, PEPE & WIF) making up ~60% of the market cap.

1. Dogecoin (DOGE)

• Price: $0.11
• 24h Change: +2.10%
• Market Cap: $15,948,459,716
• Website: dogecoin.com
• Twitter: @dogecoin (3.9M followers)

Background:

Created in 2013 by software engineers Billy Markus and Jackson Palmer as a satirical take on the cryptocurrency frenzy, Dogecoin features the Shiba Inu dog from the “Doge” meme as its mascot. Used for online tipping and microtransactions.

Key Aspects:

• Community Engagement: Known for its active and charitable community, including sponsoring events and charitable causes.
• Cultural Impact: Elon Musk’s endorsements have significantly influenced its price.

2. Shiba Inu (SHIB)

• Price: $0.000015
• 24h Change: +1.40%
• Market Cap: $8,678,698,084
• Website: shibatoken.com
• Twitter: @Shibtoken (3.8M followers)

Background:

Launched in 2020, Shiba Inu, dubbed the “Dogecoin killer,” aims to build a decentralized ecosystem. It gained popularity partly due to Elon Musk’s influence.

Key Aspects:

• Ecosystem Development: Introduced ShibaSwap, its own decentralized exchange.
• Community: Known as the “Shib Army,” actively involved in charitable activities.
• Tokenomics: 50% of its supply was sent to Ethereum co-founder Vitalik Buterin, who “burned” 90% of it and sent 10% of the remainder to charitable organizations, creating major publicity.

3. Pepe Coin (PEPE)

• Price: $0.06
• 24h Change: +5.40%
• Market Cap: $3,596,114,396
• Website: pepecoin.org
• Twitter: @PepecoinNetwork

Background:

Launched in 2023, Pepe Coin leverages the popularity of the “Pepe the Frog” meme. It reached a $1 billion market cap within weeks of launch.

Key Aspects:

• Deflationary Mechanism: Tokens are burned with each transaction to reduce supply.
• Community-Driven: Emphasizes community involvement and social media engagement.
• Cultural Resonance: Taps into internet culture to drive adoption.

4. DogewithHat (WIF)

• Price: $2.01
• 24h Change: +16.80%
• Market Cap: $1,999,686,441
• Website: dogwifcoin.org
• Twitter: @dogwifcoin (98.2K followers)

Background:

A quirky spin-off featuring a Shiba Inu dog wearing a hat, adding a fashionable twist to the memecoin space.

Key Aspects:

• Unique Branding: Combines the popularity of Dogecoin with a new, fun character.
• Community Engagement: Governed by its community, focusing on inclusivity.
• Blockchain: Operates on the Solana blockchain, benefiting from faster transactions and lower fees.

5. FLOKI (FLOKI)

• Price: $0.000045
• 24h Change: +7.00%
• Market Cap: $1,387,715,959
• Website: floki.com
• Twitter: @RealFlokiInu (625.2K followers)

Background:

Named after Elon Musk’s dog, FLOKI aims to combine memes with utility in gaming and DeFi platforms.

Key Aspects:

• Ecosystem: Developing play-to-earn games and NFT marketplaces.
• Philanthropy: Partnered with Kimbal Musk’s Million Gardens Movement to tackle global food insecurity.
• Community: Known as the “Floki Vikings,” highly active and engaged.

6. Bonk (BONK)

• Price: $0.000001
• 24h Change: +5.40%
• Market Cap: $1,277,128,934
• Website: bonkcoin.com
• Twitter: @bonk_inu (325.3K followers)

Background:

Launched on Christmas Day 2022, Bonk is the first dog-themed token on the Solana blockchain.

Key Aspects:

• Purpose: Aims to enhance liquidity on Solana-based decentralized exchanges.
• Deflationary Tokenomics: Uses a burning mechanism to control supply and maintain price stability.
• Community-Driven: Relies on community support for growth and development.

7. Popcat (POPCAT)

• Price: $0.92
• 24h Change: +2.50%
• Market Cap: $899,041,160
• Website: popcat.click
• Twitter: @POPCATSOLANA (60K followers)

Background:

Inspired by a viral meme featuring a cat named Oatmeal, famous through the “Popcat” clicking game.

Key Aspects:

• Meme Culture: Capitalizes on internet trends to drive adoption.
• Blockchain: Operates on Solana, leveraging high-speed and low-fee transactions.
• Community Engagement: Active social media presence fuels its popularity.

8. Brett (BRETT)

• Price: $0.08
• 24h Change: +3.40%
• Market Cap: $836,882,516
• Website: basedbrett.com
• Twitter: @BasedBrett (5,201 followers)

Background:

Based on Brett the Toad from Matt Furie’s “Boy’s Club” comic series, Brett coin has quickly risen due to its catchy branding.

Key Aspects:

• Community-Driven: Relies on community efforts for marketing and development.
• Meme Influence: Emphasizes the speculative nature of memecoins.
• Blockchain: Built on the Base chain, focusing on casual and humorous branding.

9. Neiro (NEIRO)

• Price: $0.00001
• 24h Change: +5.70%
• Market Cap: $491,607,884
• Website: neirocoin.xyz
• Twitter: @NeiroOnEthereum (114.8K followers)

Background:

Inspired by Neiro, a Shiba Inu owned by Atsuko Sato, the owner of Kabosu—the original Dogecoin dog.

Key Aspects:

• Tribute Coin: Launched as a homage after the passing of Kabosu.
• Community Growth: Rapidly gained traction due to viral trends and community enthusiasm.
• Potential: Emphasizes the rapid growth potential of newcomer memecoins.

10. Mog Coin (MOG)

• Price: $0.000009
• 24h Change: Data not specified
• Market Cap: $481,320,000
• Website: mogcoin.xyz
• Twitter: @MogCoinEth (36.2K followers)

Background:

Mog Coin made headlines with a dramatic price surge of 2000x within 48 hours of its launch in July 2023.

Key Aspects:

• Viral Growth: Gained popularity through social media and internet culture.
• Community Focus: Positions itself as the internet’s first “culture coin,” focusing on fun and positivity.
• Unique Branding: Features figures like John McAfee and Martin Shkreli on its website, contributing to its viral growth.

Conclusion

Memecoins have carved out a unique and dynamic niche in the cryptocurrency market. The leading memecoins of 2024 showcase how internet culture, community engagement, and viral trends can significantly influence market dynamics. While they offer exciting opportunities for high returns, they also come with substantial risks due to their volatility and speculative nature.

Invest Wisely: Always conduct thorough research and consider your risk tolerance before investing in memecoins. Their value can fluctuate dramatically based on market sentiment, social media trends, and other unpredictable factors.

About Gravity Team

Gravity Team is a crypto market maker and liquidity provider founded in 2017. Our key focus is on providing fair crypto-asset pricing globally. With a dedicated team of ~50 professionals, we actively trade over 1,400 crypto-asset pairs across 30+ exchanges worldwide.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before buying or trading cryptocurrencies.