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16 Best Meme Coins to Buy in May 2024

Alan Draper
Alan Draper | Verified by Sergio Zammit
Last updated: | 36 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

To help you make informed investment decisions, we reviewed and ranked the best meme coins to buy in 2024. Before narrowing down our list to the top 16 meme tokens, we evaluated 60+ coins, based on five criteria: market capitalization, community strength, meme quality, market volatility, and development progress.

We’ll go over our meme coin ranking methodology in detail, as well as our experts’ process for identifying new meme coins, what influences their price and market cap, and the pros and cons of investing in these tokens.

Best Meme Coins to Buy 2024

  • Play-to-earn meme coin, transforming the iconic Doge meme into a Tamagotchi-style virtual pet.
  • P2E meme utility tokens looking bullish for summer - get in on this 40-stage presale early for biggest returns.
  • Token on the Binance Smart Chain, with a possible Binance CEX launch post presale
Project Launched
May 2024
Meta
Meme, P2E
Purchase Methods
  • bnb
    bnb
  • usdt
    usdt
  • Bank Card
    Bank Card
  • Brand new South Park-inspired seal-themed SOL meme coin
  • Ideal coin to buy in presale ahead of the expected summer meme coin frenzy
  • Thought to be by the team that was also behind the viral SLERF coin
Project Launched
May 2024
Meta
Meme
Purchase Methods
  • Solana
    Solana
  • Infinitely upgradeable AI meme coin, with modular technological capabilities.
  • Huge staking rewards available everyday during presale.
  • Presale price rises every two days - buy now to benefit from best price before listing.
Project Launched
April 2024
Meta
Stake-to-earn, Meme
Purchase Methods
  • ETH
    ETH
  • usdt
    usdt
  • First truly multi-chain Doge token, promising interoperability across major blockchains
  • Easy to buy and claim $DOGEVERSE tokens during presale phase
  • Could be the next Doge-inspired coin to explode in 2024
Project Launched
April 2024
Meta
Meme, Multi-Chain
Purchase Methods
  • ETH
    ETH
  • usdt
    usdt
  • Trending meme coin with P2E utility & staking rewards
  • Price up 10x in past month, rumors of Binance listing
  • 12k+ holders and growing
Project Launched
December 2023
Meta
Meme, P2E
Purchase Methods
  • Bank Card
    Bank Card
  • usdt
    usdt
  • ETH
    ETH
  • Looking to disrupt the DOGE-dominated meme space, $KAI is a AI-based meme coin with 10x potential
  • As a PoS ERC20 token investors can buy and stake $KAI for massive rewards
  • Fully audited by Coinsult, the presale has raised over $170k already
Project Launched
May 2024
Purchase Methods
  • bnb
    bnb
  • ETH
    ETH
  • usdt
    usdt
  • Bank Card
    Bank Card
  • +1 more
  • New meme coin offering an immersive experience via high-stakes battles
  • Participants can buy and stake $SHIBASHOOT tokens for rewards in excess of 25,000% p/a
  • Token holders can cast votes on key project decisions and try their luck in the 'Lucky Lasso Lotteries'
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • usdt
    usdt
  • bnb
    bnb

Top Meme Coins with Market Cap

Total Meme Coin Market Cap: $50.06 billion (+3.47%)

Last 24-Hour Meme Coin Trading Volume: $5.37 billion (-23.43%)

Here’s our list of the best meme coins to buy in May 2024, including established large market cap coins and brand new meme coins:

  1. PlayDoge – Play-to-earn mobile game featuring Doge as a playable character
  2. Sealana — New Solana-based meme coin with viral potential
  3. WienerAI — New dog-themed meme token offering an AI crypto trading bot
  4. Dogeverse — Multi-chain meme crypto is compatible with six blockchains
  5. Sponge V2 — Best stake-to-bridge meme coin with a play-to-earn game
  6. Smog (Market Cap: $54 million) — Popular meme coin promising the greatest Solana airdrop of all time
  7. Shiba Shootout — Best Wild West-themed meme coin
  8. Clair Meme — AI-powered meme coin avatars for full metaverse integration
  9. Oracle Meme — New meme token decentralizes the meme creation process. Presale coming up
  10. MAOCAT — Cat-themed meme coin with utility in the form of NFTs, a swap and a game.
  11. Dogecoin (Market Cap: $20.2 billion) — Most iconic meme coin with widespread adoption
  12. Shiba Inu (Market Cap: $14.2 billion) — Popular meme coin known as the ‘Doge Killer’
  13. Pepe (Market Cap: $3.4 billion) — Top meme coin with unique cultural appeal
  14. dogwifhat (Market Cap: $3.0 billion) — The biggest meme coin sensation in 2024
  15. Bonk (Market Cap: $1.8 billion) — Leading Solana meme coin with high transaction speed
  16. Floki (Market Cap: $1.7 billion) — Popular meme coin with real utility

Ranking The Best Meme Coins to Buy in 2024

With hundreds of new meme coins competing in the crypto investment space, it’s no easy feat for investors to select the best meme coins to buy for their portfolio.

Investors have to take extra care to educate themselves and do their own research about crypto meme projects before investing. Below, we have included our analysis of promising and popular meme coins that could perform well in 2024 along with their current market capitalization.

1. PlayDoge – Best Meme Coin Launching a P2E Mobile-Based Doge Game

The top meme cryptocurrency to invest in 2024 is PlayDoge ($PLAY). PlayDoge takes our #1 spot as it introduces a play-to-earn mobile game that will transform the iconic Doge meme into a Tamagotchi-style virtual pet.

PlayDoge presale

Bringing back the 90s nostalgia, the PlayDoge mobile game will feature 2D 8-bit graphics, similar to the classic Tamagotchi game style. However, PlayDoge merges entertainment with financial incentives by launching the $PLAY token.

By taking care of your virtual PlayDoge pet and competing in mini-games, you can earn $PLAY tokens as a reward. The upcoming app launch will display the game’s top performers on an online leaderboard. The best performers will also be entitled to additional $PLAY bonuses and other exclusive rewards.

PlayDoge has launched at a time when customers are beginning to value utility. In the past 30 days, Dogecoin — purely a meme coin — is up by 15%, while high-utility meme tokens like Floki Inu — which has a P2E game called Valhalla — are up by over 50%.

PlayDoge game features

Along with the P2E gaming utility, $PLAY token holders can earn further utility by staking tokens on a smart contract. Currently, $PLAY is priced at $0.00451 on presale. The presale will consist of 40 rounds, through which PlayDoge aims to raise a hard cap of $24.4 million.

For more information, join the PlayDoge Telegram channel and follow PlayDoge on X (Formerly Twitter).

Presale Started May 2024
Purchase Methods BNB, ETH, USDT, Card
Chain Binance
Min Investment None
Max Investment None

Visit PlayDoge

2. Sealana — Solana-Based Meme Coin With Viral Potential

The next top meme coin on our list is $SEAL, the native token of Sealana. Built on the Solana blockchain, Sealana follows the story of an obese and lazy American Redneck seal.

Sealana presale

In hopes of moving out of his mom’s basement, Sealana starts to trade cryptocurrency tokens. This character is based on the popular South Park character, World of Warcraft Guy. Many investors may be interested in purchasing $SEAL due to the success of Solana-based meme tokens.

In the past two weeks, Popcat and Solama are up by 260% and 80%, respectively. Therefore, there is a growing demand for new SOL-based projects. Solana also supports low gas fee transactions at high speeds.

To join the presale, interested investors can send SOL tokens directly to the following wallet address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c. Alternatively, purchase tokens directly from the presale website.

Sealana img

Currently, 1 SOL will get you 6,900 $SEAL tokens. Stay tuned for more project developments by joining the Sealana Telegram channel and following Sealana on X (Formerly Twitter).

Presale Started May 2024
Purchase Methods SOL
Chain Solana
Min Investment None
Max Investment None

Visit Sealana

3. WienerAI — New Dog-Themed Meme Token Offering an AI Crypto Trading Bot

WienerAI ($WAI) is an innovative meme project that looks poised to become a hit in 2024. Aiming to become the ‘top dog’ in the market, WienerAI offers impressive staking rewards for early birds who buy the token during the presale.

WienerAi presale

WienerAI is a meme coin that can do much more than generate a slew of memes online. The core product of the project is a crytpo trading bot powered by artificial intelligence. Through the chatbot front end, users can ask for trading advice and then WienerAI will search the markets for the best deals and find DEXs with the best priced pairs. What’s more, $WAI token holders start earning passive income right away by staking their investments on the presale website.

If you’re interested in buying the token head to the official website and connect your wallet to the widget. You can buy $WAI using BNB, ETH, MATIC, or USDT.

WienerAI staking yields

With the current trend for dog-inspired meme coins ongoing, an early investment in WienerAI could have huge returns down the line. The total token supply is 69 billion of which 20% (13.8 billion) will be paid out as staking rewards.

To explore the project futher, check out the official WienerAi website. You can also follow WienerAI on X and join the Telegram group.

Presale Started April 2024
Purchase Methods USDT, ETH, BNB, MATIC, and card
Chain Ethereum
Min Investment None
Max Investment None

Visit WienerAI

4. Dogeverse — Multi-Chain Meme Coin Offers Staking Rewards

Dogeverse (DOGEVERSE) is a unique dog-themed meme coin that’s compatible with six major blockchains: Ethereum, Binance Smart Chain, Polygon, Solana, Avalanche, and Base. This multichain support opens the way to many meme coin traders and communities and allows them to get their hands on this new meme coin.

Dogeverse presale

One of its main features is the staking APY. Keep in mind, the APY will drop, which makes it important to stake as early as possible if you’re planning to participate in the presale and buy Dogeverse tokens. Early investors have already taken advantage of this as over $15 million has been raised since the ICO launch.

Only 15% of the 200 billion token supply will be made available in the presale, according to the Dogeverse whitepaper. This means only a small amount of tokens will be available early on, giving a massive opportunity to investors who buy the presale to potentially see huge gains during the bull run.

Detailed breakdown of the Dogeverse tokenomics
Dogeverse tokenomics

Follow Dogeverse on X and join the Dogeverse Telegram channel for the latest information.

Presale Started April 2024
Purchase Methods USDT, ETH, BNB, MATIC, AVAX, BASE, SOL, and card
Chain Multichain
Min Investment None
Max Investment None

Visit Dogeverse

5. Sponge V2 — Best Stake-to-Bridge Meme Coin With a Play-to-Earn Game

$SPONGE was one of the most popular meme coins in 2023, combining its whimsical meme charm with strong marketing strategies. Now, this popular meme coin is using the stake-to-bridge mechanism to introduce the Sponge V2 token, which could very easily be the the next meme coin to explode.

sponge v2 presale website

In 2023, investors saw $SPONGE move from just a $1 million market cap to nearly $100 million in a few months. Now, investors have another chance to capitalize off this popular meme coin.

On the newly launched V2 smart contract, V1 token holders can stake their holdings to earn an equal amount of V2 tokens. Those who don’t hold Sponge V1 tokens can buy Sponge V2 on the website, and automatically stake their holdings.

This meme token will offer a minimum of 40% in staking APY through the smart contract — currently standing at 164%.

Sponge V2 staking

As part of its expansion process, $SPONGEV2 will be a playable token on a new play-to-earn platform. Sponge V2’s P2E racing game will allow players to access a free and paid ecosystem. The paid version will allow token holders to climb up an online leaderboard and earn $SPONGEV2 as rewards.

Sponge V2 will look to capitalize on the popularity of the original Sponge token, which got listed on some of the best crypto exchanges such as MEXC and Gate.io. As part of its roadmap plan, the project aims to get listed on multiple CEXs in the coming years.

Read the Sponge V2 whitepaper and join the Telegram channel to learn more about this project.

Presale Started Dec 2023
Purchase Methods ETH, MATIC, USDT, Card
Chain Ethereum
Min Investment None
Max Investment None

Visit Sponge V2

6. Smog (Market Cap: $54 million) — Trending Meme Coin Promising the Greatest Solana Airdrop of All Time

Smog, one of the latest meme coins on the market, takes our next spot in the best meme coins to buy. Built on the Solana blockchain, $SMOG was listed straight on the Jupiter decentralized exchange in February 2024 and now has a market cap of more than $54 million.

Currently as of May 29, 2024, SMOG is trading at $0.0526, which is up from previous 24 hour price by +4.88%.

Smog website

In under 24 hours of its launch, $SMOG soared past a market cap of $28 million. In the last year, the token has appreciated more than 130%. The Smog developers state that this token has the potential to become the biggest coin on the Solana blockchain.

You can currently purchase $SMOG with ETH for 10% discount on the Smog token website, and stake it for a 42% APY. Alternatively, you can purchase the token on Jupiter, Raydium, or Birdeye at full price.

Coin NameSmog
Smog Price$0.0526
Smog Price Change 24h▲ 4.88%
Smog Price Change 7d▲ 11.63%
Smog Market Cap$40,988,187
Circulating Supply778,999,968 SMOG

To increase its community following, Smog is running one of the biggest airdrop crypto campaigns. From its 1.4 billion token supply, 490 million meme tokens will be offered to token holders via airdrops.

Currently, those who buy and hold $SMOG can start earning airdrop points. Smog will also host quests and challenges, allowing the winners to increase their airdrop points.

This meme coin has the potential to offer similar gains as Pepe, which also launched with a $2 million market cap. Currently, 15% of the token supply has been set aside for future CEX and DEX listings.

Read the Smog whitepaper and join the Telegram channel to learn more about this cryptocurrency.

Presale Started Feb 2023
Purchase Methods ETH, USDT, Card
Chain Ethereum
Market Capitalization $54 million
Token Price $0.0526

Visit Smog

7. Shiba Shootout — Best Wild West-Themed Meme Coin

Shiba Shootout is a Wild West-themed meme coin, aimed at both short-term traders and long-term stakers. It offers an immersive narrative where players, depicted as cowboys, engage in battles and quests within a digital frontier town led by characters like Marshal and Shiba Sharpshooters.

This lore translates into unique utilities such as Cactus Staking, Campfire Tales, and Lucky Lasso Lotteries, making it more than just a typical meme coin. Shiba Shootout differentiates itself with a strong community focus and a distinctive, engaging theme.

shiba shootout website

The presale of Shiba Shootout has kicked off with 35% of its total 2.2 billion token supply available. This initial offering is a critical phase for gauging market interest and community engagement.

Aside from the presale, the token allocation includes portions for community rewards, liquidity provisions, marketing, and project development, ensuring a balanced distribution that supports both growth and functionality.

Presale Started April 2023
Purchase Methods ETH, USDT, BNB, Card
Chain Ethereum
Min Investment None
Max Investment None

Visit Shiba Shootout

8. Clair Meme — AI-Powered Meme Coin Avatars for Full Metaverse Integration

Clair Meme is the latest meme coin with massive potential to explode this year. After the launch of its first ICO, the Clair Meme token raised thousands of dollars in the first few minutes. The development team behind the project is hoping the coin goes viral.

Clair presale

However, Clair is more than a meme coin. The Clair eco-system allows token holders to devise their own meme coins which can then be used as avatars in the metaverse. Moreover, with the integration of AI programming, you are also able to give your avatar a voice and use it to engage, compete, and earn with others in the metaverse.

CLAIR tokenomics

Clair makes use of a profitable burn mechanism which seems 5% of the total supply burnt each quarter to help token scarcity and ensure price discovery. Out of the total supply of 100 billion tokens, just 1% is available for presale. Clair has been built on the Ethereum blockchain and so you can purchase the token with ETH, USDT, or USDC.

For all the latest information be sure to follow Clair on Twitter and Telegram.

Presale Started April 2024
Purchase Methods ETH, USDT, USDC
Chain Ethereum
Min Investment None
Max Investment None

Visit Clair Meme

9. Oracle Meme – New Crypto Decentralizing the Meme Creation Process

Oracle Meme ($OMEME) is a new meme cryptocurrency that decentralizes the way we create memes. The platform introduces a suite of tools to support the generation and creation of memes on the blockchain.

Oracle Meme presale

According to the Oracle Meme whitepaper, the platform will introduce a Meme AI Generator. Through this tool, you can create memes and access AI-powered suggestions and customization options. Oracle Meme will also implement a meme coin generator through which new meme cryptocurrencies can be created with just a few clicks.

To ensure low-cost and efficient transactions of $OMEME, Oracle Meme will build a Layer-2 network. This innovative meme coin will also add a ‘Meme Wallet’ – where you can save all of your memes on the blockchain. Other exciting features include a Meme Launchpad, which allows users to find newly launched meme coins and projects.

$OMEME is a governance token, and can be held to access voting rights on the ecosystem. This allows token holders to dictate the future of the project and vote on technical upgrades. The token will soon be used to purchase NFTs on the Oracle Meme ecosystem.

Oracle Meme tokenomics

From a total supply of 50 billion tokens, Oracle Meme will allocate 20 billion for the upcoming presale. The presale will be the earliest stage for the public to participate in this meme project. To ensure long-term participation, Oracle Meme will also offer annual yield through its staking mechanism.

For more information on this cryptocurrency, join the Oracle Meme Telegram channel and follow Oracle Meme on X (Formerly Twitter).

Presale Started May 2024
Purchase Methods ETH, BNB, MATIC, USDT
Chain Ethereum
Min Investment None
Max Investment None

Visit Oracle Meme

10. MAOCAT – New Cat-Themed Meme Coin With Utility and Staking Rewards

MAOCAT ($MAO) is an ERC20 meme coin built on Ethereum with the goal of breaking the dog meme coin dominance of Shiba Inu and Dogecoin. Unlike most meme coins, MAOCAT has several aces up its sleeve that offer utility aside from simple price speculation.

mao cat presale

First, you can stake your tokens to earn a dynamic APY, which can help you increase your token holdings. Next, the team plans several projects, including a 10,000 NFT collection, a play-to-win game, a DeFi-based swap, and an NFT marketplace similar to OpenSea.

$MAO will also serve as a governance token, per the MAOCAT whitepaper, where token holders will be able to vote on the project and its developments.

There are three stages in the project’s roadmap where stage one is based around the $MAO presale launch and setting up the infrastructure and social media accounts. Stage two starts when the presale ends and the token is listed on exchanges. During this stage the game development will start and the swap feature will launch. Finally, the third stage will see the game launch, the launch of the 10,000 NFTs and the NFT marketplace launch.

maocat nfts

Buy the $MAO token now in a presale with ETH where one ETH gets you 1,558,846 during the first presale phase, and 1,320,132 $MAO tokens in the second presale phase.

Follow MAOCAT on X and join the MAOCAT Telegram channel for the latest updates.

Presale Started May 2024
Purchase Methods ETH
Chain Ethereum
Min Investment None
Max Investment None

Visit MAOCAT

11. Dogecoin (Market Cap: $20.2 Billion) — Most Iconic Meme Coin With Widespread Adoption

Dogecoin is the original meme coin. Created in 2013, it features the image of Kabosu, a female Shiba Inu dog. According to its founders, the coin was created as a joke, making fun of the frenzy surrounding cryptocurrencies at the time.

Ironically, Dogecoin went on to become one of the most successful cryptocurrencies ever created. The token didn’t see any notable price action in its first few years, but by the end of 2020, Dogecoin quickly rose in popularity, fueled by the Reddit army.

The website homepage of the original meme coin, Dogecoin

In 2021, along with the rest of the crypto market, the price of Dogecoin rocketed. The digital token hit an all-time high of $0.73 on May 08, 2021.

Since then the token has endured losses, but is currently undergoing a recovery, , reaching a market cap of $20.2 billion by May 2024, and giving hope to traders wondering if Dogecoin still a good investment in 2024.

Coin NameDogecoin
Dogecoin SymbolDOGE
Dogecoin Price$0.165
Dogecoin Price Change 24h▼ -0.77%
Dogecoin Price Change 7d▼ -1.28%
Dogecoin Market Cap$23,922,667,828
Circulating Supply144,457,886,384 DOGE

Dogecoin remains the most famous meme coin, inspiring thousands of other meme tokens, including several on this list. It is widely accepted by various online merchants across the world. The token can be purchased from all the top crypto exchanges — check out our full guide on how to buy DOGE.

12. Shiba Inu (Market Cap: $14.2 Billion) — Popular Meme Coin Known as the ‘Doge Killer’

Following the success of Dogecoin, many other meme coins have performed well in the crypto market. At the forefront of this is Shiba Inu — a digital token created in 2020 that managed to succeed in mimicking the popularity of Dogecoin. The digital token is built on top of the Ethereum network, and as such, it can operate alongside smart contracts.

But is Shiba Inu a good investment? For many investors who view Shiba Inu as a more attractive investment when compared to Dogecoin, its biggest competitor, the answer is a resounding “yes.”

Shiba Inu is also compatible with a robust network of DeFi services, and is available on numerous exchanges and social trading platforms, allowing it to be easily integrated into other crypto ecosystems.

Coin NameShiba Inu
Shiba Inu SymbolSHIB
Shiba Inu Price$0.0000275
Shiba Inu Price Change 24h▲ 8.19%
Shiba Inu Price Change 7d▲ 5.96%
Shiba Inu Market Cap$16,216,576,912
Circulating Supply589,271,850,586,731 SHIB

When Shiba Inu was released, the digital token was priced at $0.00000000051. The token’s value spiked in October 2021, reaching an all-time high of $0.00008 — translating to an increase of over 15,000,000%.

So, is it too late to buy Shiba Inu? Well, it’s still trading for a tiny fraction of a cent. With a market cap of $14.2 billion, a single Shiba Inu token is priced at $0.0000275.

13. Pepe (Market Cap: $3.4 Billion) — Top Meme Coin With Unique Cultural Appeal

Pepe Coin ($PEPE), a meme coin leveraging the infamous Pepe the Frog, has made significant waves in the cryptocurrency market since its launch in April 2023.

Built on the Ethereum blockchain, Pepe Coin quickly surpassed a $1 billion market cap within just three weeks, outpacing the growth trajectories of well-established meme coins like Dogecoin. Its market cap currently stands at $3.4 billion.

The website homepage of Pepe, a popular meme crypto

The coin’s volatility remains high, yet the strong holder base underpins its market resilience. Originally introduced with a deflationary mechanism where tokens are burned with each transaction, Pepe Coin aimed to reduce supply and increase value over time. However, the future of this feature is uncertain with recent project changes.

Investing in Pepe Coin carries typical risks associated with volatile meme coins, intensified by recent turbulence such as the unexpected transfer of 16 trillion tokens, which caused significant price drops and community concern.

Despite these challenges, the token saw a recovery after burning 6.9 trillion tokens and appointing new advisors, signaling ongoing project development and management’s efforts to stabilize and steer the coin towards growth.

Pepe Coin’s relationship with its community and the broader social media landscape has been pivotal. High-profile endorsements and social media discussions have spurred both positive spikes and negative dips in its valuation.

For those interested in purchasing Pepe Coin, it’s available through decentralized exchanges like Uniswap, where investors can swap ETH for $PEPE.

Token Launch April 2023
Chain Ethereum
Market Capitalization $3.4 billion
Token Price $0.00000796

14. Dogwifhat (Market Cap: $3.0 Billion) — The Biggest Meme Coin Sensation in 2024

Dogwifhat, launched in late 2023, has quickly become a standout meme coin in the early 2024 crypto bull market. Ranking as the third largest meme coin by market cap, Dogwifhat’s dramatic rise is a testament to the renewed vigor in the meme coin sector.

The website homepage of the most successful meme coin to buy in 2024, dogwifhat

Initially trading on the Raydium DEX for Solana, it captured the crypto community’s attention with a low entry price, and then surged to a high of $0.3252 in December 2023 as it gained mainstream traction. Despite experiencing a dip to $0.067 in early 2024, Dogwifhat rebounded robustly, finding a steady trading range between $0.21 and $0.45.

Its market momentum accelerated with listings on major exchanges like Binance and Crypto.com, propelling it to a new all-time high. Dogwifhat’s market cap soared to $3.0 billion, joining the elite ranks of meme coins with billion-dollar valuations.

Unlike many meme coins that pivot towards utility, Dogwifhat remains true to its roots — it is simply a dog in a hat. This simplicity, paired with a strong community and forthcoming features like the “WIF Hat Generator,” continues to attract investors looking for pure meme enjoyment rather than utility.

Token Launch November 2023
Chain Solana
Market Capitalization $3.0 billion
Token Price $2.98

15. Bonk (Market Cap: $1.8 Billion) — Leading Solana Meme Coin With High Transaction Speed

Bonk is yet another Shiba Inu-themed Solana meme coin that launched with a massive airdrop on the Solana blockchain in December 25, 2022 as a Christmas gift to the community. The token’s launch coincided — perhaps not accidentally — with the resurgence of the Solana blockchain over the course of 2023.

In the past year, Bonk rose by a whopping 3,200% and Solana is up 630%, an enormous gain for a large-cap crypto.

The website homepage of the Bonk meme token

With a market cap of $1.8 billion, Bonk is more than just a meme coin at this point. It’s listed on some of the world’s biggest exchanges, including Binance and Coinbase, so traders have been using it to bet on the future of the Solana ecosystem with leverage.

In addition, Bonk has its own blockchain-based tools including BonkSwap and BonkBot. The project even has its own NFT collections.

Bonk doesn’t have a roadmap for the year ahead, so it’s difficult to say with any certainty what this meme coin will do next. However, time has shown that hot meme coins — especially ones with Shiba Inu themes — have surprising staying power.

We wouldn’t be surprised if Bonk is one of the biggest winners of the next crypto bull run, especially if the Solana ecosystem can keep up its momentum and attract more users.

Token Launch December 2022
Chain Solana
Market Capitalization $1.8 billion
Token Price $0.00002713

16. Floki (Market Cap: $1.7 Billion) — Popular Meme Coin with Real Utility

Floki, initially inspired by Elon Musk’s Shiba Inu dog, launched in July 2021. The project saw significant traction following Musk’s tweets, particularly when he announced the arrival of his dog Floki, leading to an immediate price surge.

Despite an anonymous founder who left early on, Floki’s price skyrocketed by over 1.7 million percent from its all-time low to a high in November 2021. At the time of writing, it has accumulated a market cap of $1.7 billion.

The website homepage of the Floki meme coin

Floki has a max supply of 20 trillion tokens, with nearly half currently in circulation. This distribution suggests potential price suppression in the future as more tokens enter the market. This is contrasted starkly with Shiba Inu, where all tokens are already circulating, presenting a different investment dynamic.

Community engagement is on the rise, and the coin’s integration into various utilities within its ecosystem hints at increased demand. Floki has transitioned from a simple meme coin to a utility-focused asset within its expanding ecosystem, which includes plans for a metaverse named Valhalla and a prepaid bank card.

This shift towards real-world applications and community-focused events like NFT rewards positions Floki as a promising yet risky investment.

Token Launch July 2021
Chain Ethereum and Binance Smart Chain
Market Capitalization $1.7 billion
Token Price $0.0001707

What Is a Meme Coin?

Meme coins are digital tokens that become popular due to their association with online trends. Initially, meme coins were produced as lighthearted jokes, heavily influenced by internet ideas and culture.

Meme coins generally don’t have any specific utility. Instead, the price of these meme coins is often influenced by social media, discussions on online forums, and even celebrity endorsements.

As we noted above, Dogecoin was the first digital token to call itself a ‘meme coin.’ Following its success, an explosion of meme coins began to appear in the crypto market. Some of these, such as Shiba Inu and Bonk, are well-known among crypto investors and can be easily accessed on the best P2P crypto exchanges.

On the other hand, many meme coins have resulted in investors losing their money. For this reason, investing in meme coins comes with outsized risks as there is no way to predict how the market will move — even in the short term.

8 Ways to Identify New Meme Coins

After trying out dozens of methods for identifying new meme coins, our crypto experts have narrowed them down to the eight most effective ways:

  1. It’s community-driven. Meme coins often gain popularity through social media platforms, forums, and online communities.
  2. There’s a lot of social media hype around it. If you see a cryptocurrency being heavily promoted through memes and online discussions without clear fundamentals, it’s probably a meme coin.
  3. It doesn’t have a real purpose. Most meme coins don’t have a well-defined purpose or technology behind them and seem to be focused more on marketing or entertaining users.
  4. It has funny or quirky branding. Memes, Elon Musk, Japanese dogs — if it’s been in the public eye, someone’s come up with a meme coin for it.
  5. You don’t know who is behind it. Meme coins may lack transparency about their development team or have an anonymous team, rather than one that has been doxxed. An undoxxed team can be a red flag for investors.
  6. It’s very volatile — and you can’t tell what’s causing it. Meme coin prices are driven more by speculation and hype than by their actual value or utility, so they’re usually volatile without a clear reason why.
  7. Its tokenomics are as weird as its branding. Unusual tokenomics, such as a large total supply, a high inflation rate, or other features that deviate from more traditional cryptos are common features of meme coins.
  8. It has a short-term focus. Since they’re often based on a short-term phenomenon, such as a meme, their emphasis is often on quick gains instead of long-term sustainability.
It’s important to note that not all coins with off-beat branding are necessarily meme coins, and some meme coins may evolve over time.

Should I Invest in Meme Coins?

As is evident from our list of upcoming meme coins, only a handful of these tokens come with unique value propositions and many have sudden rises then fall and never return.

This makes it even more challenging to figure out the best meme coins to buy. In the following sections, we’ll discuss why investors might want to consider meme coins.

Meme Coins Could Produce High Profits

Despite their lack of utility, in most cases, meme coins have often been responsible for some of the biggest moves seen in the crypto market. These extreme price shifts often happen due to the interest generated by supporting online communities.

For example, in 2021, Dogecoin saw its price go from around $0.009 to $0.68 — translating to gains of over 7,000%. After reaching its all-time high in 2021, the price of Dogecoin dropped to around $0.17 by the end of 2021. This slump continued well into 2022 and 2023, with the price dropping under $0.06.

However, in the first quarter of 2024, the price started rising again as the new crypto bull run began in earnest, and $DOGE reached $0.2 in March 2024, rewarding true DOGE diamond hands.

Dogecoin all time price chart

More recent examples include Smog, which went from $0.02 to $0.38 in a matter of two weeks — an increase of 1,800%, resulting in huge gains for the earliest investors.

An even more extreme example is dogwifhat, which went from lows of $0.06 to highs of $3.53, sustained by the passionate community behind it. That’s an increase of more than 5,783% — no wonder that since then, other meme coins have been trying to capture some of their own ‘wif’ magic, with investors trying to figure out the crypto with the most potential. dogwifhat price chart one year

The dark side of this magic formula is that the price can also drop to extreme levels as soon as the frenzy and demand wanes. This is why investors have to be extremely careful when risking their money on meme coins — it’s money they may never see again.

Meme Coins Can Offer Utility

Meme coins, like other cryptocurrencies, can offer utility beyond their initial novelty or entertainment value. While some meme coins may have started as pure silliness, developers and communities sometimes enhance their utility over time.

Some merchants and online platforms may accept meme coins as a form of payment, providing users with a practical way to transact, while other meme coins can incorporate decentralized finance functionalities such as lending, borrowing, yield farming, or staking, providing users with additional financial opportunities.

When looking for the best meme coins for 2024, investors should consider whether the coins have the potential to offer any real utility. Having said that, potential is simply that — potential — and even a meme coin with a solid use case is not a cast-iron promise of its success.

Meme Coins Have Strong Community Backing

When searching for the best meme coins to invest in, investors should attempt to find those with a large community support. As we have pointed out, the community can play a significant role in influencing the price action of a meme coin.

Dogecoin Twitter account

Individuals in the community can help spread the news of the coin, encourage others to invest, or make a token go viral. As such, social media platforms and online forums such as Reddit are good places to spot meme coins that might explode.

However, there’s no guarantee that a meme coin will increase in value exclusively due to its community backing. While there are one or two exceptions, it is a highly risky move to invest in a meme coin just because the project has a lot of followers on social media.

Risks of Investing in Meme Coins

Investing in meme coins can potentially lead to huge gains, but it also comes with risks.

  • Lack of utility: Most meme coins lack any real utilities, with only a few exceptions. The value of a new meme coin is often based entirely on the frenzy fueled by social media platforms, which can fizzle out as quickly as it appears.
  • Extremely volatile: All crypto is volatile to some degree, but meme coins, which rely almost entirely on social media hype and the community’s enthusiasm for it, are even more volatile and unpredictable.
  • Potential scams: Many meme coin projects have turned out to be rug pulls. In other words, ventures where crypto developers abandon a project and run away with investors’ funds.
  • Limited information on the development team: Meme coins may lack transparency about their development team or have an anonymous team, in contrast to reputable cryptos that are usually backed by identifiable development teams.
  • Lack of regulation: Many meme coins operate in a less regulated environment compared to more established cryptos, making them a perfect breeding ground for malicious actors to manipulate markets and engage in fraudulent activities.
  • Poor security measures: Many meme coins are much more concerned with marketing than security, and end up launching without having robust security measures in place. This opens them up to hacking and other security breaches, which puts investors’ funds at risk.

Investors should be extremely careful when looking for the best meme coins to buy for their portfolio. If they manage to buy and sell at the right time, they might be able to make money from crypto meme coins.

But they could also lose all the funds they invested. The best strategy would be to focus on cryptocurrencies that have strong fundamentals that are likely to stand the test of time.

What Influences the Price of a Meme Coin?

As with any other investment, the price of cryptocurrencies is influenced by supply and demand. However, in the case of meme coins, the factors that affect the general market sentiment are slightly different. Here, we’ll discuss the top five factors that influence the price of a meme coin.

Going Viral on Social Media

Going viral on social media is a major driver behind the price spikes of meme coins, often fueled by hype and FOMO. When a meme coin gains traction online, its visibility and trading volume increase, often leading to a rapid rise in price. Influencers and viral posts can amplify interest and investment almost overnight.

To leverage this, monitor platforms like X and Reddit for trending topics. Use social media analytics tools, such as Hootsuite and Brand24, to track mentions and sentiment.

Investing early in meme coins that are gaining online momentum can be profitable. However, always assess the risk, as the hype can fade quickly, potentially leading to sharp price declines.

Overall Market Performance

Overall market performance significantly impacts the price of meme coins. When the broader cryptocurrency market is bullish, meme coins often see amplified gains due to increased investor confidence and speculative trading. Conversely, in bear markets, these coins may experience steeper declines.

To assess and capitalize on market trends, track indices like the total cryptocurrency market cap and Bitcoin’s performance, as these often dictate market sentiment. Utilize crypto tools like TradingView for real-time data and trend analysis.

Buying during uptrends and considering timely exits can maximize returns from meme coins, but careful risk management is essential to navigate their high volatility.

Exchange Listings

When a meme coin is listed on the best cryptocurrency exchanges, it gains increased visibility, accessibility, and credibility, often resulting in a surge in price due to higher trading volumes.

To take advantage of this, stay updated on exchange announcements and potential listings. Consider subscribing to newsletters from major platforms and joining their online communities.

By being among the first to know about upcoming crypto listings, you can buy into relevant meme coins early, potentially capturing gains from initial price spikes.

Token Burning Events

Token burning events are crucial for the price increase of meme coins because they reduce supply, making the currency scarcer. This scarcity can lead to higher prices if demand remains steady or increases. Such events are typical of deflationary cryptocurrencies that employ ways of burning tokens to enhance value.

Investors can track these events by following official coin announcements on social media or dedicated cryptocurrency news sites. To capitalize on token burns, consider buying before announced burns and selling post-event to profit from potential price surges.

Always verify the scale of the burn and its historical impact on the coin’s price to make informed decisions.

Celebrity Endorsements

Celebrity endorsements significantly boost meme coin prices by attracting widespread attention and investment. When well-known crypto influencers and KOLs (i.e., Key Opinion Leaders) publicly support a meme coin, their large followings often lead to increased buying activity, driving up prices.

To leverage this, investors should monitor social media platforms where celebrities and crypto influencers are active. Pay attention to sudden surges in followers or mentions related to specific coins.

Acting quickly on such endorsements can be profitable, but it’s vital to assess the authenticity and potential impact of the endorsement to avoid short-lived hype.

Elon Musk tweet about meme coins

Methodology: How We Ranked the Best Meme Coins to Invest In

Our methodology for ranking the best meme coins to invest in is rigorous and multifaceted. We evaluate each coin based on factors like viral potential, community strength, market cap, tokenomics, and multichain compatibility. This comprehensive approach ensures our rankings reflect the coins with the highest investment potential.

Potential to Go Viral (25%)

Virality can significantly boost a meme coin’s visibility and trading volume, often leading to rapid price appreciation. We assess this potential by analyzing the coin’s engagement on social media platforms and its presence in influencer discussions.

For instance, a meme coin that consistently features in trending topics or is endorsed by well-known figures in the crypto community is more likely to attract investor interest and go viral. This metric accounts for 25% of our rating, highlighting its importance in predicting a coin’s growth potential.

Community Strength (25%)

Community strength is essential in ranking the best meme coins because a robust, active community often indicates strong support and sustainability. We measure this by evaluating the size and engagement levels of the community on platforms like Reddit, Discord, and X.

For example, a coin with a high number of active participants and frequent discussions across these platforms typically suggests a committed base, which can drive demand and stabilize the coin’s value. This metric makes up 25% of our overall rating.

Attractive Market Cap (25%)

Market cap is a key indicator of a cryptocurrency’s market value and stability. It’s essential for assessing the financial health and size of a crypto project. Meme coins with lower market caps are often considered cryptos with the most upside, as they have more room to grow compared to larger, more established coins.

Investors looking for significant growth potential frequently target these low market cap cryptos for high profit opportunities. This key metric makes up 25% of our ranking methodology. We assess it by comparing a cryptocurrency’s market cap with industry trends and similar coins.

Well-Designed Tokenomics (15%)

Tokenomics refers to the economic policies that govern a cryptocurrency’s issuance and management. It includes details like total supply, distribution strategy, and transaction fees.

Well-designed tokenomics can drive demand and sustain a crypto’s value. For instance, a limited supply can enhance scarcity, potentially increasing value; whereas staking rewards for holding coins might encourage longer-term investment, promoting price stability.

We assess a project’s tokenomics by examining factors such as the total supply, distribution plans, staking rewards, and burn mechanisms. This consideration constitutes 15% of our rating methodology, since a coin’s economic structure is important for promoting sustainable growth and investor interest.

Multichain Compatibility (10%)

Coins that function on multiple chains are likely to have higher interoperability, accessibility, and utility, broadening its user base and potentially making them more valuable.

A prime example of this is Dogeverse, a new meme coin that has successfully raised $15 million during its presale, largely due to its innovative multichain capability. Set to launch on six different blockchains, Dogeverse exemplifies how interoperability via multichain support can attract a broad investor base.

To assess multichain compatibility, we examine if the coin is supported on major blockchains beyond its native one, such as Ethereum, Binance Smart Chain, or Solana. This factor accounts for 10% of our ranking methodology.

Conclusion: Top Meme Coins by Market Capitalization

While Dogecoin takes the crown as the the highest market cap crypto, PlayDoge ($PLAY) is our pick for best meme coin to buy in 2024. This new meme coin offers utility to token holders through its play-to-earn mobile-based game. Players can earn $PLAY tokens by taking care of their Doge pets, and competing in mini-games.

Visit PlayDoge

Top Meme Coins FAQs

What is a meme coin?

Meme coins are digital tokens that are usually designed around a popular internet trend or an idea. These might pay homage to a meme or a celebrity.

What is the largest meme coin by market cap?

The largest meme coin by market cap is Dogecoin, with a market capitalization of $20.2 billion.

What are the top 10 meme coins by market cap?

In May 2024, the top 10 meme coins by market capitalization are Dogecoin, Shiba Inu, Pepe, dogwifhat, Bonk, Floki, Book of Meme, cat in a dogs world, Memecoin, and Popcat.

What are the top meme coins to buy right now?

Top meme coins to buy right now include Dogecoin, Shiba Inu, and PlayDoge. The PlayDoge token is building a play-to-earn mobile-based Doge game, allowing players to win tokens by engaging in online mini-games and get staking rewards.

What meme coin should I buy in 2024?

Those looking for the best meme coins to buy in 2024 should look for new tokens that are emerging in the market. PlayDoge is a new presale token that offers high staking rewards and more token utility compared to Dogecoin and Shiba Inu.

How do you invest in meme coins?

The most popular meme coins can be purchased via online crypto brokers and exchanges. Newly launched crypto projects also allow investors to buy their meme coins directly via a direct presale launch.

What is the best way to find new meme coins to buy?

One of the best ways to find the next meme coin that’s going to blow up is by consulting social media platforms and crypto subreddits. This is where community discussions regarding the best investment opportunities often take place. Investors can also check out crypto aggregators to find out when new meme tokens are launching in the market.

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