As we step into 2024, the meme coin sector continues to be the topic of interest in the world of crypto. Let us just quickly remind you what meme coins are. Meme coins are types of cryptocurrencies that originate from internet memes or concepts, frequently created just for fun.
Unlike their more serious counterparts like Bitcoin or Ethereum, meme coins often depend on community spirit and viral content rather than groundbreaking technology or use cases. But don’t let their playful nature fool you.
Due to their extremely high volatility, some of the most prominent meme coins have experienced meteoric price increases over short periods turning early investors into millionaires overnight.
However, keep in mind that not every meme coin is destined for success, and for every Dogecoin or Shiba Inu that reaches the moon, there are dozens of shitcoins that will be worth nothing after a while.
So, the first thing to keep in mind is that investing in meme coins should be more about having fun than about making serious investment decisions. Second, always do your own research (DYOR) before diving in.
Top Trending Meme Coins 2024
In this guide, we will rank the top 5 meme coins worth considering in 2024.
#1 - Bonk Coin (BONK)
Bonk coin is the first dog-themed cryptocurrency on the Solana network, and its mission is to boost liquidity on Solana's decentralized exchanges. The Bonk project aims, as highlighted on its website, to reduce venture capital investors' dominance on the Solana network, shifting power back to the general public. By operating on the Solana blockchain, known for its lower transaction fees, Bonk offers a distinctive advantage over its meme coin counterparts.
The coin was officially launched on December 25, 2022, and has seen a rapid rise in popularity towards the end of 2023. After the non-cost airdrop in November 2023, Bonk’s value skyrocketed by over 2,000% in a single week, hitting a market cap of over $200 million. Now Bonk is the third largest meme coin by market cap.
The Bonk coin has been integrated into over 130 various platforms, covering gaming, gambling, decentralized finance (DeFi), and NFTs. With its current price standing at $0.00001007, Bonk provides an accessible investment opportunity.
#2 - Meme Kombat ($MK)
Meme Kombat is a new player in the meme coins sphere. It distinguishes itself by creating a comprehensive ecosystem that offers earning opportunities through staking and betting in a play-to-earn game environment.
Since its presale launch a few months ago, the project has successfully raised over $8 million. A key feature of Meme Kombat is its battle arena, where avatars representing various popular meme coins engage in combat.
Players using the $MK token can stake and place wagers on a variety of events within the arena, including player versus player and player versus game battles. Bets can be made on the overall outcome of a battle, specific events, first moves, and more. Notably, $MK is a limited-supply meme token, with only 120 million tokens available.
#3 - Pepe (PEPE)
Pepe COIN made a dramatic entrance into the cryptocurrency world in April 2023, quickly becoming the center of attention with a significant price rally in the crypto market. This abrupt increase in price revitalized interest in meme coins, a segment that had seen diminished popularity during the 2022 downturn. Currently, Pepe continues to rank as one of the top meme coins in the cryptocurrency sphere.
While the frenzy around PEPE has cooled down since its peak in May, it still holds its status as the fourth-largest meme coin by market capitalization, boasting a valuation of $376 million.
It's noteworthy that the Pepe project has not ventured into launching new features or products. From the beginning, PEPE was not marketed as a utility token. The creators have consistently communicated PEPE's nature as a "useless" meme token, setting clear expectations about its role in the crypto market.
#4 - ApeCoin ($APE)
ApeCoin is a meme coin introduced by Yuga Labs, the company that brought the world the ultra-popular Bored Ape Yacht Club and Mutant Ape Yacht Club NFT collections.
$APE is more than just a meme coin. This ERC-20 token is designed to give its community governance over the ApeCoin DAO, which includes a community fund for future development. Development could include investing in new NFT projects, building out a metaverse or play-to-earn games, and much more.
Notably, Yuga Labs is also working on its own metaverse separately from the ApeCoin project. There’s widespread speculation that $APE will be the official token of this new metaverse, known as Otherside, when it launches. $APE jumped 22% when Yuga Labs offered a sneak peak of the Otherside metaverse last summer.
When Otherside is launched, $APE could skyrocket in value well beyond the price it achieved during the sneak peek last summer.
#5 - Milady Meme Coin (LADYS)
The Milady Meme Coin was born out of a tweet by Elon Musk, who posted an image of a Milady Maker NFT along with the caption, "There is no meme. I love you." This caused an immediate sensation online, with the NFT collection's floor price more than doubling in a matter of minutes. Following this frenzy, an anonymous developer launched the $LADYS token, which astonishingly surged by 20,000% in price.
Since that initial surge, the price of $LADYS has normalized somewhat, as such dramatic price movements are typically short-lived. However, the token still boasts a market capitalization of over $40 million.
Final Words
Concluding our guide through the top meme coins for 2024, it's evident that the meme coin market continues to be vibrant and unpredictable.
And as always, investors interested in meme coins should prioritize research and caution. The key is to treat these investments as a form of entertainment, allocating only what you can afford to lose without impact. As long as your involvement in the meme coin sector remains a playful venture, it can add an exciting vibe to your investment portfolio, keeping the experience enjoyable and stress-free.
FAQ
What is the best meme coin to buy right now?
Determining the "best" meme coin to buy at any given moment can vary widely based on current market trends, community support, development activity, and overall market sentiment. Investors should conduct thorough research, considering factors such as the coin's market capitalization, social media presence, and the project's roadmap.
What are the best meme coins for long term investment?
For long-term investment in meme coins, investors should look beyond the hype and consider projects with a strong community, clear development goals, and potential use cases that could drive demand over time. Consider the meme coins listed in our article.
What is the best place to buy meme coins?
Meme coins can be purchased on a variety of platforms, including centralized exchanges (CEXs), decentralized exchanges (DEXs), and crypto trading platforms. Some of the most popular places to buy meme coins include Binance, Coinbase, Kraken, and Uniswap. Always ensure the platform supports the specific meme coin you are interested in before creating an account.
What are the biggest meme coins?
The biggest meme coins are typically those with the largest market capitalization and community following. Dogecoin (DOGE) and Shiba Inu (SHIB) are among the most well-known and widely recognized meme coins. These coins have achieved significant attention both within and outside the crypto community, often serving as gateways for new investors entering the cryptocurrency market.
