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In recent years, meme coins have gained popularity, and some—like Dogecoin, Pepe, and Shiba—have had returns of over 1000% on their investments. On the other hand, many meme coins have been defrauded or have failed at various points in their life cycles. For this reason, we have created the ultimate list of meme coins. We have carefully examined each of the top meme coins using the NFT Droppers Score, a unique scoring system that takes into account more than 80 analysis elements, including marketing activity, team experience, investor interest, and KOLs.
What is a Meme Cryptocurrency Token?
It is a kind of altcoin or cryptocurrency. Meme tokens typically have no intrinsic worth or even utility. As implied by their names, these cryptocurrencies are frequently (but not always) influenced by social media images, political jokes, and Internet memes.
All cryptocurrencies are dependent on their user bases and influencers’ backing. However, strong links to well-known figures like Elon Musk have contributed significantly to the meme coin’s rise in popularity.
Some meme coins have developed into large infrastructure initiatives with genuine value and use cases, despite their humorous nature. We have the example of Dogecoin. The project has introduced Dogechain, an EVM-compatible chain designed for Web3 DApp. On the other hand, Shiba Inu has started a decentralized exchange named ShibaSwap, a fork of the well-known SushiSwap DEX. Additionally, Shiba Inu native coins can be used as payment at Welly’s, an Italian fast food company that the project has collaborated with.
Now let’s take a look at the list of the best meme coins!
1. Shiba Inu (SHIB)
arity of Dogecoin helped Shiba Inu (SHIB) in becoming the second-largest meme coin by market capitalization. With the introduction of a layer-2 blockchain, called Shibarium, a decentralized exchange, called ShibaSwap, and a metaverse platform came into existence.
The group is currently working on implementing an auto-burn system to lower the token supply, which is approaching trillions at this point.
2. Dogecoin (DOGE)
In 2021, Dogecoin (DOGE), the biggest meme coin by market capitalization and among the top 15 cryptocurrencies, gained popularity due to the backing of its active community and Twitter billionaire Elon Musk.
The community is still optimistic about a price rebound even if the price trend has been bearish over the last month.
3. Pepe coin (PEPE)
The popularity of Dogecoin was paralleled by the frog-themed meme coin Pepe coin (PEPE), which shot to a $1 billion market cap in less than a month. It took Dogecoin four years to accomplish this. Surprisingly, Pepe achieved this milestone solely through publicity and without any real usefulness.
Investors are therefore left wondering how the meme token would fare if the utility was included in its list of features. In addition, despite its noticeable price swings, its X community is expanding.
4. Floki (FLOKI)
The people’s cryptocurrency, Floki (FLOKI), has evolved from being a meme coin that relied only on hype to a fully-fledged ecosystem. To increase the platform’s usefulness, the crew is split up across other initiatives like DeFi, NFTs, and the metaverse.
Although there has been some change in the price of Floki Inu in the last month, the community is still expecting a significant improvement in the months ahead.
5. Bonk (BONK)
With its recent price increase, Bonk (BONK), the largest Solana-based meme coin currently available, has made room for new Solana-based meme currencies. The price of the meme currency surged in tandem with Solana’s optimistic market rebound, which peaked at $0.00003419 in December.
Despite its losses, the meme coin is aiming to create a complete ecosystem that will increase the Bonk token’s acceptance rate.
How to find the next meme coin early?
Fresh trends and viral memes will likely serve as the basis for the next meme currency to blow up, so it’s imperative to do the following actions:
Stay up to date with the most recent happenings by following KOLs and crypto influencers on social media.
Participating in different crypto groups will also help determine the hot subjects of conversation among enthusiasts.
If you’re looking to predict the next big coin ahead of time, the best place to look is at crypto analytical aggregators! The future “best meme coins” to invest in are listed on websites like NFT Droppers, along with detailed analyses.
Are there any predictions for the top-performing meme coins in 2024?
Any long-term predictions won’t likely come true, given how quickly internet trends come and go. However, there is a technique for spotting meme coins with explosive investment potential.
Meme tokens are mostly driven by the attention of the cryptocurrency community because they typically have no purpose, are not supported by any technology, and lack a special use case. To find the next gem with significant marketing exposure, we advise you to look for influencers and KOLs on NFT Droppers who are endorsing different meme coins. You can also look for social media accounts and communities that focus on investing in meme cryptocurrencies or simply memes related to cryptocurrency to spot emerging trends and learn about what insiders are currently buzzing about.
Is meme coin secure?
It is not advisable to give the meme cryptocurrency industry any serious consideration. The majority of meme coins are purely motivated by people’s FOMO and have inherent worth. These assets are incredibly unpredictable; one tweet has the power to skyrocket an asset’s price. So, it’s highly recommended not to rely solely on meme coins.
What are the risks associated with an investment in meme crypto coins?
Investing in meme cryptocurrencies carries some risk of financial loss, just like any other cryptocurrency.
Firstly, meme currencies are extremely unpredictable; as we previously mentioned, a single powerful individual can cause an asset to either skyrocket or collapse in value.
Secondly, you are voluntarily opening yourself up to potential scams such as pump and dumps and rug pulls when you buy in meme cryptocurrencies. You should keep in mind that every crypto project carries the possibility of being a victim of fraud. But with meme coins, the likelihood of fraud is increased due to their anonymous teams, and the absence of sound technology and business approach behind them. Therefore, it is always advisable to conduct the research before investing.