Top 8 new meme coins you should consider in 2024
Do you want to invest in meme coins? Discover the top new meme coins making waves in 2024 and know their potential and risks.
Top 8 new meme coins you should consider in 2024
Ever heard of Dogecoin (DOGE) or Shiba Inu (SHIB)? These are meme coins that started as funny internet inside jokes and then turned into virtual assets. In 2024, new meme coins emerged with unique names and even bigger investment opportunities.
KEY TAKEAWAYS:
- Meme coins are unique in the sense that they are created as a joke or homage to popular internet memes or cultural references. They are mainly driven by humour and user engagement.
- Aside from Dogecoin and Shiba Inu, the new meme coins in the market are Pepe, Bonk, Floki, and Myro, among a few others.
- Meme coins are highly speculative and volatile investments, often driven by internet trends and social media hype. Conduct extensive research and evaluate the meme coin’s whole concept to assess its long-term potential.
Learn more about these new meme coins and what makes them a great investment in 2024 with this guide:
What are meme coins?
Before diving into the new meme coins of 2024, it’s crucial to understand the concept of meme coins. They are unique in the sense that they are created as a joke or homage to popular internet memes or cultural references. Unlike coins like Bitcoin (BTC) which is designed as a serious financial asset, meme coins are mainly driven by humour and user engagement.
Some trending meme coins serve as a means of exchange, allowing users to buy goods or services within a specific community or online platform. Others serve as a form of virtual collectables, where the ownership is recorded on the blockchain.
Best new meme coins in 2024
The year 2024 is ripe with tech advancements and evolving crypto market trends. From Doogecoin’s (DOGE) meteoric rise, new meme coins have emerged giving you new ways to expand your investments. Some of the trending meme coins in 2024 are:
Pepe (PEPE)
Pepe is a meme coin launched in April 2023 and has taken the crypto space by storm, riding the wave of internet fame of Pepe the Frog. Unlike most meme coins, PEPE boasts a built-in deflationary mechanism.
A portion of each PEPE transaction is burned, meaning the total supply of tokens decreases over time. The coin also uses a redistribution system wherein a share of every transaction is distributed among existing PEPE holders. This prompts long-term investment and promotes a sense of community.
Bonk (BONK)
Bonk is one of the top meme coins of 2024 launched in December 2022. It dawns the Doge Bonk meme featuring a Shiba Inu dog giving another a friendly ‘bonk’ on the head.
Unlike PEPE which works around the Ethereum (ETH) ecosystem, BONK thrives on the Solana (SOL) blockchain. This allows for faster transaction speeds and lower fees. The coin’s use goes beyond just being a meme coin. It aspires to be the main asset in all SOL’s decentralised applications (dApps), attracting new users to the blockchain and retaining old ones.
Floki (FLOKI)
Floki blends the playful world of meme coins with charitable causes, mainly animal shelters. Launched in 2021, it boasts a Shiba Inu dog with Viking helmets which attracted users of other meme coins such as DOGE.
The coin operates on both the ETH and Binance Smart Chain blockchains, offering flexibility in terms of transaction fees and network congestion. It has its sights set on developing a play-to-earn game called Valhalla which adds utility to the coin within the gaming ecosystem.
In terms of market cap, FLOKI reached $1.54 billion which is a 287% increase from 2023. As the crypto industry continues to rise in value, FLOKI stands apart among meme coins in 2024. This is thanks to its unique blend of internet culture, practical uses, and charity deeds.
Myro (MYRO)
Myro was released in October 2023 as a homage to the dog that SOL co-founder Raj Gokal owned. It quickly grew to be the third-biggest memecoin in the SOL network.
What sets it apart from other coins are special features like the first public Buy Bot on Telegram. MYRO also has an easy-to-use staking programme that encourages community involvement and makes the token more accessible.
These updates improve the coin's utility and add to its expansion potential by making it more in tune with the SOL network. Beyond the usual realm of meme coins, the MYRO initiative aspires to reshape digital currencies and promote wider use of the SOL blockchain.
Dogwifhat (WIF)
Launched in November 2023 on the SOL blockchain, Dogwifhat features a Shiba Inu sporting a stylish hat. Despite its slow beginnings, WIF has seen huge growth ever since it was released.
It was included in the top 100 coins by market cap and even secured a listing on the prestigious Binance exchange. WIF draws users in with its lighthearted concept and straightforward design, in contrast to other meme coins that may have a more serious social or economic message.
To distinguish itself from others, the project uses internet culture's viral potential without pretending to undermine the financial system. With a market worth of $1.83 billion as of early 2024 and a simple yet fun approach, it has quickly become one of the top meme coins to invest in.
Memecoin (MEME)
Developed by 9GAG CEO Ray Chan, Memecoin (MEME) has taken the crypto meme industry by storm. It quickly amassed a market valuation of over $578 million after its launch in October 2023.
MEME was introduced to the market using an innovative distribution method that involved airdrops and a firesale event. The goal behind it was to disperse the supply and encourage engagement within the ecosystem.
The coin's creative introduction has allowed early investors to enjoy huge returns on investment, further attracting investors in 2024 and boosting MEME’s value. Its market interest is also heavily influenced by the project's bright future, which includes its usefulness and integration into larger ecosystems, making it a top investment you should consider.
Coq Inu (COQ)
Coq Inu (COQ) struts onto the scene as a rooster-themed meme coin that was launched on the Avalanche (AVAX) Contract Chain in December 2023. COQ has made waves in the crypto market, providing a fresh option for investors seeking a blend of fun and opportunity.
The coin has helped propel the growth and migration of other meme coins to more modern blockchain systems like AVAX, offering faster transactions and lower fees. This has positioned COQ on top of the list of successful coins, earning the interest of investors worldwide.
Silly Dragon (SILLY)
Silly Dragon (SILLY) depicts a cartoon-like dragon released in December 2023 and works on the SOL blockchain. It provides fast transaction speeds and low fees, which makes trading SILLY quicker and more affordable.
SILLY’s main goal is to build a strong community. The project aims to reward creators, developers, and users who contribute to the ecosystem's growth. Due to this, the coin captured the attention of both short and long-term investors, making it one of the most well-known coins in 2024.
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Where to buy meme coins?
There are plenty of options where you can buy meme coins 2024. These include:
- From centralised exchanges and crypto brokers
Many popular centralised crypto exchanges, such as Binance, Coinbase, and Kraken list meme coins for trading. These platforms provide a user-friendly interface and often support various trading pairs with meme coins.
- Through decentralised exchanges
Meme coins can also be traded on decentralised exchanges like Uniswap, PancakeSwap, and SushiSwap. These platforms operate on blockchain networks like ETH or Binance Smart Chain (BSC) and allow you to trade directly from your wallet without relying on third parties like banks.
- Directly from presales
Some meme coins offer presale options directly to the public before their official launch. These presales involve buying tokens at a discounted price or in limited numbers. Engaging in presales usually requires interacting directly with the meme coin project and following their instructions.
How to buy meme coins through a crypto exchange?
One of the most popular and convenient ways to buy meme coins is through a crypto exchange. All you have to do is follow these steps:
- Choose a crypto exchange → There are many exchanges available, such as Binance, Coinbase, or Kraken. These platforms allow you to buy, sell, and trade various coins, including meme coins.
- Sign up and verify your account → Creating an account often involves providing your email address and creating a password. Some platforms may require you to verify your account for your security.
- Deposit funds → After setting up your account, deposit funds you’ll use to buy meme coins. Most exchanges support deposits in major coins like BTC or ETH. You can transfer these coins from another wallet or exchange them to your new account.
- Find meme coins → Navigate to the exchange's trading section and search for the meme coins you want to buy. Make sure to research and understand the risks that come with each meme coin before investing.
- Place a buy order → On the trading page, you'll find options to place buy orders. Enter the amount of meme coins you want to buy and review the order details carefully. You can choose between buying at the current market price or setting your desired price for the purchase.
Are meme coins worth investing in?
Investing in meme coins requires a high tolerance for risk and a thorough understanding of the crypto market. Keep in mind that meme coins are highly speculative and volatile investments, often driven by internet trends and social media hype.
Conduct extensive research and evaluate the meme coin’s whole concept to assess its long-term potential. It is also best to diversify your portfolio and invest small funds in new meme coins to lessen potential losses.
Frequently Asked Questions
Got more questions about meme coins? Learn more about them with these frequently asked questions:
How do meme coins gain value?
The value of meme coins is mainly driven by market speculation, social media trends, and user sentiment. If a meme coin gains attention, it creates increased demand and drives up its price.
Are meme coins considered a long-term investment?
This depends on your preference and risk tolerance. Some people choose to hold meme coins for longer periods if they believe in their potential or enjoy engaging in their community.
