5 Best Cardano Meme Coins to Watch in September 2024
Why Trust Cryptonews
While the Cardano blockchain isn’t synonymous with meme coin investments, there’s been increased interest in recent months. Some investors believe that meme coin mania will eventually reach Cardano, just like it has with Base, Solana, and other leading ecosystems.
But what are the best Cardano meme coins to buy right now? Read on to discover early-adoption Cardano projects like Snek and Hosky, and learn what the future holds for this undervalued narrative.
The Top Cardano Meme Coins to Buy in 2024
The top Cardano meme coins to watch this year are listed below:
- Snek ($SNEK) – One of the Original Cardano Meme Coin Projects With 1-Year Gains of 160%
- Hosky Token ($HOSKY) – Trending Cardano Token With NFT Features and 7-Day Growth of 57%
- Nike ($NIKE) – Micro-Cap Meme Coin Based on Cardano Founder Charles Hoskinson’s Pet Pig
- $BAG ($BAG) – Strong Tokenomics With 95% of the Total Supply Added to the DEX Liquidity Pool
- Pepeblue ($PEPEBLUE) – The Cardano Version of Pepe With a $35,000 Market Capitalization
Best Cardano Meme Coins Reviewed – A Closer Look
Read on to assess which Cardano meme coin investments are right for your portfolio. We explore each project’s unique selling points, alongside its use cases and price performance.
1. Snek ($SNEK) – One of the Original Cardano Meme Coin Projects With 1-Year Gains of 160%
Key Points:
- The largest meme coin in the Cardano ecosystem by market capitalization
- 160% growth in the past 12 months of trading
- Boasts 42,000 X followers and 33,000 unique token holders
Snek ($SNEK) is not only one of the original meme coins to join the Cardano ecosystem but it’s also the largest by market capitalization. The project is valued at just $54 million, highlighting how nascent the Cardano meme coin space currently is. Even so, Snek has performed well since its inception last year.
Snek is up 384% to date, and over 160% in the prior 12 months. That said, like some of the best meme coins in the industry, Snek trades at a huge discount. First-time investors will pay almost 70% below Snek’s all-time high of $0.002453. This was achieved in May 2024 – the peak of the most recent “meme coin mania.”
So, what else does Snek offer for speculative investors? Well, Snek has enjoyed a notable increase in social media exposure in recent months, including over 42,000 X followers. It also boasts almost 33,000 unique token holders. Not to mention integration with 47 ecosystem partners. While Snek trades on some of the top decentralized exchanges, the easiest place to invest is MEXC.
2. Hosky Token ($HOSKY) – Trending Cardano Token With NFT Features and 7-Day Growth of 57%
Key Points:
- Has produced 7-day gains of 57%
- Currently valued at just $1.9 million
- Its NFT collection has completely sold out
Next on this list of Cardano meme coins is Hosky Token ($HOSKY). This is also an early-adopter project, with Hosky Token founded in 2022. Some analysts consider $HOSKY one of the best dog meme coins on Cardano. However, unlike many meme projects, it doesn’t use the Shiba Inu breed.
The actual breed is difficult to make out, considering its pixelated design. What’s more, the website claims that Hosky Token brings “absolutely nothing other than low-quality memes.” This laid-back approach to meme coin culture was also adopted by dogwifhat, now one of the largest in the industry by market capitalization.
Hosky Token also offered its “low-quality memes” as NFTs. While it claims the memes were simply printed JPGs, they have since sold out. In terms of performance, $HOSKY has generated significant returns in recent days. It’s up 57% in the past week. Hosky Token has a market capitalization of just $1.9 million, making it one of the best Cardano meme coins for small-cap investors.
3. Nike ($NIKE) – Micro-Cap Meme Coin Based on Cardano Founder Charles Hoskinson’s Pet Pig
Key Points:
- Dedicated to Charles Hoskinson’s pet pig
- Launched as recently as June 2024
- Has a micro-cap valuation of just $2.2 million
The next Cardano meme coin to explore is Nike ($NIKE). This project is exclusively dedicated to Cardano Founder Charles Hoskinson’s pet pig, Nike. As Hoskinson himself quotes, Nike is a “good pig.” That said, the Nike website is virtually non-existent. It has some photos of Nike and a brief overview of its history.
However, there is no whitepaper, let alone any information on tokenomics or roadmap targets, making it challenging to make any long-term projections. What’s more, Nike is one of the newest meme coins in the Cardano ecosystem. It launched in June 2024 and currently has a market capitalization of just $2.2 million.
CoinGecko data shows that the total $NIKE supply
is just 1 billion tokens. However, CoinGecko is unable to verify the existing circulating supply. This increases the investment risks considerably, as there’s no way to verify how many tokens are held by the project. $NIKE tokens have increased by almost 9% in the past 24 hours. However, they’re down 58% since inception.
4. $BAG ($BAG) – Strong Tokenomics With 95% of the Total Supply Added to the DEX Liquidity Pool
Key Points:
- Newly launched meme coin with a 1 billion supply
- 95% of tokens have been added to the $BAG liquidity pool
- Gains of 24% since April 2024
Launched in April 2024, $BAG ($BAG) is another Cardano meme coin with limited trading history. In fact, $BAG hasn’t been added to CoinMarketCap or CoinGecko, so trading data is only available on Minswap – the leading decentralized exchange (DEX) for Cardano-based tokens. Nonetheless, $BAG claims to be a “movement for meme enthusiasts”.
It also explains it’s based on the term “secure the bag,” although it makes no promises of financial return. Having explored the $BAG investment thesis, its tokenomics is one of its strongest selling points. To start with, the total $BAG supply is just 1 billion tokens.
Crucially, 95% of the total supply has been allocated for the $BAG liquidity pool, which greatly reduces the risks of a rug pull. 4% is reserved for marketing and exchange listings, while the 1% balance is held by the project creator. Minswap data shows that $BAG has increased by 24% since its inception.
5. Pepeblue ($PEPEBLUE) – The Cardano Version of Pepe With a $35,000 Market Capitalization
Key Points:
- Cardano meme project based on the original Pepe
- Has incorporated PolitiFi elements
- Is currently valued at just $35,000
Last on this list of Cardano meme coins is Pepeblue ($PEPEBLUE). This project is based on the original Pepe token, which is now one of the biggest meme coins by market capitalization. However, the original Pepe operates on the Ethereum blockchain, so this version offers access to Cardano ecosystem members.
Pepeblue has also incorporated Political Finance (PolitiFi) elements; it wears the infamous Make America Great Again (MAGA) cap but replaces “America” with “Memecoins.” In terms of tokenomics, CoinGecko data shows the total $PEPEBLUE supply is over 383 trillion tokens.
This translates to a nano-valuation of about $35,000. This means Pepeblue is only suitable for investors prepared to lose their entire stake. In the slim chance Pepeblue takes off, it could be the next 1000x crypto. After all, it would require a market capitalization of just $35 million.
What Are Cardano Meme Coins?
The Cardano blockchain is best known for integrity and academic-led principles. Even so, an increasing number of meme coins have launched in the Cardano ecosystem in recent months. These are cryptocurrencies without any use case or intrinsic value. Instead, Cardano meme coins are typically based on internet culture, jokes, and viral trends.
This means buying meme coins is a high-risk strategy. That said, the crypto markets are all about narratives. For example, we’ve seen meme coins on the Base and Solana networks explode this year. Some analysts believe that the next meme coin explosion will be on another network. This could be Cardano, or perhaps BNB Chain, Polygon, or Avalanche.
Crucially, the Cardano meme coin space is super nascent. Many projects aren’t listed on leading data aggregation platforms like CoinMarketCap or CoinGecko. This means pricing history is only available on decentralized exchanges that support the Cardano standard. These platforms have limited liquidity and volume.
Moreover, Cardano meme coins are worth just a micro-fraction of other ecosystems. As mentioned, the largest Cardano meme coin by market capitalization is Snek; it’s currently valued at just $54 million. In contrast, the largest meme coins on Solana – dogwifhat and Bonk, both trade at over $1 billion.
This does, however, present an interesting value proposition. Especially if you’re a high-risk trader looking for the next big narrative. Put otherwise, if Cardano does experience a meme coin craze, those investing at current prices could see rapid gains. Whether or not this comes to fruition remains to be seen.
How to Find Cardano Meme Coins
Diversification is the best trading strategy when investing in a nascent market like Cardano meme coins. But what’s the best way to find suitable projects with solid growth potential?
Read on; we’ll now explain some proven methods to find meme coins on the Cardano network.
Cardano Cube
A good starting point is Cardano Cube – a free online platform dedicated to the Cardano ecosystem. Similarly to other price aggregation websites, Cardano Cube is ideal for keeping tabs on new Cardano projects, including price performance, market capitalization, and tokenomics.
It also offers a section exclusively for Cardano meme coins. This covers 35 meme projects – just like one for more information. You’ll also find links to each project’s website and social media accounts. We’d suggest creating a shortlist of meme coins you’re interested in. And then conducting independent research on each one.
CoinGecko
Another method to find meme coins on the Cardano blockchain is CoinGecko. It offers a section dedicated to Cardano-based cryptocurrencies. However, this includes all crypto-types and not just meme coins. Nonetheless, CoinGecko offers various filters to help find suitable projects – especially those with strong price performance.
For example, you can sort Cardano projects by price gains or losses in the past hour, day, or week. Projects can also be sorted by the 24-hour volume and market capitalization. Clicking a project reveals lots of additional data. This includes the total and circulating supplies. You can also find the unique contract address, allowing you to verify you’re investing in the right project.
X (Formerly Twitter)
X is also a great way to find Cardano meme coins. Especially if you’re looking for brand-new projects from the ground up. After all, newly launched Cardano tokens often have a market capitalization of under $100,000. While super-risky, this is one of the best ways to find meme coins with a 1000x potential.
Consider using search terms like ‘Cardano meme coins’. You might even have luck with ‘Cardano ICO’ or ‘Cardano Presale’. These are fundraising campaigns allowing investors to buy new meme coins from the ground up. Investing before the exchange listing often means you get the lowest entry price possible.
We’ve created a guide on the best crypto presales if you’re interested in pre-listing projects.
TapTools
TapTools is a leading on-chain data platform for Cardano transactions. It’s one of the best places to find meme coin gems. TapTools offers an unprecedented range of filters. For example, you can search for meme coins within a specific market capitalization, such as between $500,000 and $3 million.
You can also find Cardano tokens by the number of unique holders, total value locked, and time since inception. Any useful filter is the liquidity range. This ensures you’re trading Cardano meme coins with sufficient liquidity pools. You can also avoid projects with a large percentage of tokens held by the developers.
Do Cardano Meme Coins Have a Future? The Investment Thesis
Investors are taking a huge gamble by investing in Cardano meme coins. Whether or not they have a future remains to be seen.
Let’s take a closer look at the investment thesis. This will enable you to make an informed decision.
1. The Market Could be Hugely Undervalued
One of the most significant aspects of Cardano meme coins is the industry’s existing valuation. Put simply, the space is worth just a tiny fraction of the wider meme coin market. For example, the total value of all meme coins, as per CoinMarketCap, is $38 billion. This includes six projects worth over $1 billion. And many more worth over $100 million.
In contrast, we’ve established that the biggest Cardano meme coin for market capitalization is Snek – valued at just $54 million.
So, what does this mean from an investment perspective? Well, if meme coins take off on Cardano, current prices could represent a great entry point. For example, suppose Snek becomes the first billion-dollar meme coin on Cardano. This would offer gains of over 18x from current prices.
2. A Great Option for Nano-Cap Investors
We should also mention that the vast majority of meme coins on Cardano are nano-cap projects. In fact, most are valued at under $1 million. This presents risks and benefits. The main risk is that nano-caps are ultra-volatile. Even one sell order can collapse the market price by double-digit percentages.
However, the same concept also works for buy orders. Meaning – even a small amount of buying pressure can generate significant gains. So, if you’re looking to build a portfolio of 100x nano-caps, the Cardano blockchain is ideal.
How to Buy Cardano Meme Coins?
- The vast majority of Cardano meme coins trade on DEXs. This is due to limited interest from the broader markets. Minswap is one of the most popular although other options exist.
- You’ll need a self-custody wallet that supports the Cardano blockchain. Most meme coins trade against ADA, Cardano’s native coin. This means you’ll need to ensure the wallet is funded with ADA before proceeding.
- Then, you’ll need to connect that wallet to the respective DEX. Search for the meme coin you’re interested in. It’s best to use the Cardano Policy ID, which is unique to the project.
- Then, swap ADA for the desired number of meme tokens. The tokens will be added to your wallet. You can then disconnect the wallet from the DEX.
Do note that the two leading meme coins on Cardano, Snek and Hosky Token, trade on MEXC. This means investors can use debit/credit cards and other traditional deposit methods. This is far easier than using a DEX.
Conclusion
In summary, we’ve seen increased interest in Cardano meme coins in recent months. It’s a heavily undervalued market, especially when compared to other meme ecosystems like Ethereum, Base, and Solana. That said, there’s no guarantee that meme coin mania will ever reach Cardano.
As such, this nascent market is best left to speculative traders with a high risk tolerance. Diversification is also crucial, as nobody knows which, if any, meme coins will succeed on Cardano.
FAQs
Are there any meme coins on Cardano?
Yes, an increasing number of meme coins are being built on the Cardano blockchain. Some of the most popular include Snek, Hosky Token, Nike, $BAG, and Pepeblue.
Is Cardano a good network for meme coins?
Although Cardano could be suitable for meme coins, it doesn’t offer the same low-cost and scalable environment as Solana, Base, and BNB Chain. Cardano has yet to witness the kind of throughput that meme coin mania requires.
What is the biggest meme coin on Cardano?
The biggest meme coin Cardano by market capitalization is Snek ($SNEK). It’s currently valued at just $54 million.
Is it worth buying meme coins on Cardano?
Cardano meme coins are a hugely speculative gamble. It could be worth building a small position on leading projects, but ensure you’ve conducted thorough research on the risks.
References
- What is a Rug Pull: Types, How to Avoid Them (Finance Magnates)
- Memecoin Mania Drives Solana Toward All-Time Highs (Bloomberg)
- Memecoins Are Fueling Growth on Coinbase’s Blockchain (Bloomberg)
About Cryptonews
Our goal is to offer a comprehensive and objective perspective on the cryptocurrency market, enabling our readers to make informed decisions in this ever-changing landscape.
Our editorial team of more than 70 crypto professionals works to maintain the highest standards of journalism and ethics. We follow strict editorial guidelines to ensure the integrity and credibility of our content.
Whether you’re looking for breaking news, expert opinions, or market insights, Cryptonews has been your go-to destination for everything cryptocurrency since 2017.
Eric Huffman 
Nick Pappas 
Michael Graw