Top 10 Meme Coins to Look Out for in 2024

Meme coins have been a hot topic of debate in the crypto community. Some see them as tarnishing the reputation of projects looking to maximize the capabilities of blockchain technology, while others view them as a fun way to attract interest in crypto. Either way, it is impossible to deny the prevalence of meme coins in the crypto space. There are lots of promising tokens that could potentially bring large returns for investors. 

Best Meme Coins to Invest in 2024

Let’s take a look at some of the top meme coins in 2024. 

1. Dogecoin (DOGE)

DOGE is the largest meme coin by market capitalization and has attracted huge amounts of investment. The token became popular in 2021, as it received celebrity endorsement from the likes of Elon Musk and Mark Cuban. The token is primarily used as a form of payment and can be used to buy goods across many platforms. 

2. Shiba Inu (SHIB)

Shiba Inu (SHIB) is another promising meme coin. Though the token was created in 2020 to challenge DOGE, it quickly rose to fame, even creating a billionaire in the process. The project looks to provide value beyond just a meme coin and allow users to earn rewards, stake tokens and buy non-fungible tokens (NFTs) and real merchandise, as well as other services like metaverse capabilities and a decentralized exchange (DEX).

3. Pepe (PEPE)

Pepe the Frog is one of the oldest internet memes on this list, and the meme has allowed the token to quickly grow into one of the largest meme coins. The project does not even try to make it seem like the token is useful at all. It leans into the identity of a meme coin, with no roadmap and a poor-quality website. Despite this, the community has latched on to the project and sent it soaring. 

4. Floki (FLOKI)

Floki is a Shiba Inu dog meme coin based on the Ethereum chain. The token has a variety of programs in place to attempt to differentiate itself. These include the ability to fund prepaid debit cards with FLOKI, a variety of NFT projects and a play-to-earn metaverse game. 

5. dogwifhat (WIF)

dogwifhat (WIF) is a meme coin based on an image of a dog with a hat. The token is the largest meme coin on the Solana chain and has attracted strong investment since its launch in late 2023. The token also leans into the memes, stating that the token is “literally just a dog wif a hat.”

6. Bonk (BONK)

Another Solana-based meme coin, BONK is hoping to build a large community of investors and users across Web3. It is working towards this goal by providing different services to the community, such as decentralized finance (DeFi) applications and a handful of games that investors can play.

7. MAGA (TRUMP)

TRUMP is one of the first tokens in a new asset class that some are calling PoliFi. The token combines aspects of crypto, politics and memes to create a token that is appealing to many, not just Trump supporters. The token’s main programs are charity donations to organizations looking to support veterans and end child trafficking.

8. Myro (MYRO)

MYRO is another relatively new Solana-based meme coin. The project is based on Myro, the dog of one of the founders of Solana. The token serves as both a meme coin and a way to spread the message about Solana. The project also offers the ability to buy MYRO stuffed animals, as well as a handful of other projects set to release within the next year or so.

9. Memecoin (MEME)

With MEME, everything you need to know is in the name. According to the website, the token is “literally a meme coin” with “no utility” and “no promises.” Despite this, the token has performed well and created a strong community since its launch in late 2023. 

10. Baby Doge Coin (BabyDoge)

While some tokens have tried to take down DOGE, BabyDoge is leaning into DOGE’s success. The project has attracted investors through its memes and many programs, such as a chess game, prepaid cards, NFTs and a Guinness World Record for the most pet food donated in 24 hours.  

What is a Meme Coin?

Meme coins are a somewhat recent phenomenon, featuring crypto tokens that are based entirely on memes. Though most projects are created as a joke, communities of investors can latch on to these projects and send prices soaring.

These tokens are meant to be a fun and lighthearted investment that can bring people together around memes. However, the tokens, despite their non-serious nature, have attracted tens of billions in investment. 

How to Identify a Meme Coin

Most meme coins are fairly easy to identify, as they do not look to provide much value for investors in terms of use cases. While some projects (SHIB) do offer some uses for the token, these uses are generally surface-level in terms of what is possible with crypto.

The most obvious indicator is the use of memes. While memes change, and it can be hard to keep up with the times, the memes that most tokens use are either dog-related (WIF, DOGE, SHIB) or based on older memes (PEPE). 

How to Invest in Meme Coins

If you are looking for a place to invest in meme coins, Coinbase, eToro, Kraken, Webull and PrimeXBT are great crypto brokerage options to get started. Creating, verifying and funding an account on these platforms is usually pretty straightforward and most traders can begin investing within a couple of business days.

Are Meme Coins a Good Investment?

Since meme coins offer little real value to investors, their value is largely determined by market sentiment. This can be the result of large investors (whales), community sentiment or overall crypto market sentiment. Meme coins are usually extremely volatile, which can make for astronomical gains and result in astronomical losses. Consider your own risk tolerance and investment goals before investing in meme coins. 

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