8 Best Meme Coins to Buy in 2024: Lols and Gains
In 2024, meme coins, known for combining fun internet trends with investing, are more popular than ever. These unique cryptocurrencies, often starting as jokes, have caught the attention of investors for their humor and community vibes. But what are the best meme coins to buy in 2024?
Our guide will explore the best meme coins to watch this year, highlighting what makes each one stand out in the playful yet unpredictable meme coin space.
What are Meme Coins?
Meme coins are cryptocurrencies inspired by internet memes and trends. They started with Dogecoin in 2013, initially created to poke fun at Bitcoin.
Unlike regular cryptocurrencies, meme coins aren’t known for their practical use but for their strong appeal in the internet culture. Communities around coins like Dogecoin or Shiba Inu are quite passionate, sometimes even engaging in charitable causes, adding to their appeal.
However, this doesn’t overshadow their inherent volatility. Their prices can shoot up or drop suddenly, mostly because of social media buzz and celebrity comments, not because of their actual economic value. This makes them an exciting but risky choice for investors.
How to Choose the Best Meme Coins to Buy
When choosing the best meme coins to buy, consider these factors:
Market Trends: Watch how these coins are doing in the market. Meme coins can quickly gain or lose value due to social media buzz and celebrity endorsements, but these price spikes are often short-lived. Understand these trends, and don’t just follow the hype.
Community Strength: A strong and active community suggests a meme coin might do well. Look for enthusiastic and involved groups, as they often drive the popularity and longevity of the coin.
Technological Developments: While meme coins are not typically known for utility, some are evolving to offer more use cases. Coins with real tech developments could be more stable and promising in the long run.
Red Flags: Watch out for meme coins where developers hold a significant portion of the supply, as this might suggest potential price manipulation. Also, avoid communities focused on driving up prices without any genuine purpose or utility. Lastly, research the developers’ track record and credibility.
Third-Party Audits: Prefer coins that have undergone third-party audits. This helps to spot any issues and adds trustworthiness.
Here are the Best Meme Coins to Buy in 2024
1. Dogecoin
Dogecoin (DOGE), the most popular meme coin, was created in 2013 by Billy Markus and Jackson Palmer. They wanted to make a lighter, more humorous version of Bitcoin. As of December 20, 2023, Dogecoin is priced at about $0.093265, a slight increase of 3.3% from last year. It’s well-known for its large, enthusiastic community and the frequent support from big influencers like Elon Musk.
Looking into the future, Dogecoin has potential for a wider use case, especially after Elon Musk teased a possible integration with Twitter, now X, leading to a price surge in November 2023. Until then, Dogecoin has steadily maintained its position as one of the best meme coins, if not THE best of 2024.
2. Shiba Inu
Shiba Inu, also known as SHIB, was launched as a rival to Dogecoin in 2020 and quickly became one of the biggest and best meme coins. It’s an Ethereum-based token with a big, passionate community that’s part of its charm. As of December 20, 2023, Shiba Inu’s price is $0.00001048, a 4.8% increase over the past year.
The ecosystem around Shiba Inu is constantly evolving, with developments like:
- Shibarium – A layer 2 blockchain solution
- ShibaSwap – a DeFi platform that allows staking and yield farming
- Shib metaverse – similar to Decentraland
One odd thing that stands out about Shiba Inu is that its top holder owns more than 41% of SHIB tokens, which might trigger concerns for some people. Looking to the future, Shiba Inu is set on expanding its ecosystem and increasing its real-world applications, suggesting a promising trajectory beyond its meme origins.
3. Floki
Floki got its name from an Elon Musk tweet about naming his Shiba Inu pet “Floki.” By December 2023, Floki’s value is at $0.000035, up by 2.9% from last year. Known for its enthusiastic “Floki Vikings” community, Floki has ambitious plans beyond being a meme coin. It’s working on projects like –
- Valhalla: An NFT gaming metaverse
- FlokiFi: A suite of DeFi products. So far, the first product they launched is a crypto locker where you can store your digital assets.
- FlokiPlaces: An NFT marketplace.
Floki is mixing entertainment with real-world uses. But, like Shiba Inu, it has an uneven distribution, with one top holder owning 42.9% of the coins. Nonetheless, Floki has quickly solidified its place among the best meme coins, and 2024 might be a big year for it.
4. MonaCoin
MonaCoin, Japan’s first homegrown cryptocurrency, began in 2014 and is based on a popular cat meme. Right now, its price is about $0.383847. In the past year, its value has gone down by roughly 86%. Despite this drop, it’s well-liked in Japan, with a strong community.
MonaCoin is more than just a meme coin; it’s a decentralized peer-to-peer payment network. Its future lies in its ongoing community support and potential as a digital payment method, particularly in Japan. This blend of meme culture and practical utility makes MonaCoin one of the best meme coins to look out for in 2024.
5. Pepe Coin
Pepe Coin, launched on Ethereum, is a tribute to the “Pepe the Frog” internet meme, which became one of the few coins to achieve $1 billion rapidly. It stands out with a no-tax policy and a straightforward approach, embracing its role as a pure memecoin. Its current price is $0.000001, which hasn’t changed much in the last year.
It was created to capitalize on the meme coin trend set by Dogecoin and Shiba Inu and is trying to become one of the big names in the meme coin market. Pepe Coin is all about keeping it simple and enjoyable, which is why many in the crypto community like it.
6. Baby Doge Coin
Baby Doge Coin, a fun spin-off inspired by Dogecoin, was created with a focus on animal protection awareness. Right now, it’s priced at just $1.52e-9, and it’s seen a big drop of about 83.7% in the last year. Despite this decrease, Baby Doge has built a strong community with over 1.3 million token holders and a significant online following of 2.5 million across social media.
Baby Doge isn’t just about being a cute meme. It offers real utility. Recently, Baby Doge launched its AI Image Generator. This lets anyone create images, characters, and memes and turn them into NFTs. Moreover, it’s got faster and cheaper transactions than Dogecoin. How? By leveraging the Binance Smart Chain while maintaining compatibility with the Ethereum network. Unlike Dogecoin’s inflationary model, Baby Doge adopts a deflationary approach, reducing the total supply over time and making it more scarce. Therefore, making it more valuable over time.
However, Baby Doge Coin’s primary mission remains to raise awareness for animal welfare and pet adoption, setting it apart as one of the best meme coins with utility and a meaningful purpose.
7. BONK
BONK is yet another dog-themed meme coin, launched in December 2022 on the Solana network. It’s focused on building a strong community. As of writing, its price is about $0.000019, a small drop of 9.5% from last year. Half of its total supply was distributed to Solana community members to boost liquidity in Solana-based decentralized exchanges.
The coin is gaining attention for its commitment to community development and integration across Solana dApps. BONK was distributed by randomly airdropping coins to Solana NFT collectors, developers, and artists, creating an active and diverse user base. As it keeps growing, BONK’s goal is to be a community-driven coin, supporting the Solana ecosystem and giving everyone a fair chance to participate.
8. Apecoin
Originating from the popular Bored Ape Yacht Club NFTs, ApeCoin is an ERC-20 token built on the Ethereum blockchain. It stands out in the meme coin space with its unique features and strong community backing.
What makes ApeCoin special is its governance model. ApeCoin holders have a say in the project’s decisions through the ApeCoin DAO, a decentralized autonomous organization. ApeCoin is not just about voting rights, though. It’s a utility token that plays a significant role in various digital projects, especially in the emerging metaverse world. It’s closely tied to Yuga Labs’ upcoming game, “Otherside,” for facilitating in-game transactions and accessing exclusive features.
This blend of governance, utility, and market presence makes ApeCoin a standout choice among the best meme coins in 2024.
FAQs
Which Memecoin will explode in 2024?
It’s really hard to guess which meme coin might explode in 2024. The crypto world changes a lot, and it changes fast, so what’s hot today might not be tomorrow. It’s super important to do your homework and check out different opinions before you invest in any coins, especially meme coins.
Which meme coin can reach $1?
Dogecoin, the first big meme coin, might have the best shot at reaching $1. This is because of its extensive and enthusiastic community. When most people think of meme coins, Dogecoin is usually the first name they think of since it has the biggest brand presence in the mainstream media.
But remember, guessing the future prices of any cryptocurrency, like meme coins, is pretty hard due to their volatile nature and external influential factors like social media and market sentiment.
Is Memecoin a good investment?
For the average investor, meme coins are generally not a good investment due to their lack of practical use cases and inherent volatility. While they offer opportunities for big short-term gains, as seen with Dogecoin’s rise in April 2021, these are often short-lived and risky.
Meme coins are more speculative and can be influenced by factors like celebrity tweets, leading to rapid price changes. However, there have been instances where people have made a lot of money, such as with Dogecoin and Pepe Coin. However, these coins are more for taking chances and seeing what happens, not for long-term plans where you want your money to grow steadily. More established cryptocurrencies like Bitcoin or Ethereum are usually safer for long-term investing.
Which Memecoin is best for long-term investment?
Even though meme coins might not be great for long-term investing, Shiba Inu, Floki, and Baby Doge Coin could do well over time. These coins are always coming up with new ideas and adding features to be more useful and valuable.
Why do people buy memecoin?
People buy meme coins mainly for speculative purposes, hoping for quick profits, driven by social media hype and support from famous people. There’s also a fun, community feel to these coins that attracts buyers.
Where is the best place to buy meme coins?
To buy meme coins, you can use popular cryptocurrency exchanges like Binance, Coinbase, OKX, KuCoin, and Kraken. These exchanges have a variety of digital assets. There are also decentralized exchanges such as PancakeSwap, Uniswap, ParaSwap, and SushiSwap where meme coins are often traded.