Home Cryptocurrency 17 Best Meme Coins to Buy for January 2024
Kane Pepi Financial Writer Expert Author expertise
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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Meme coins remain popular with investors seeking high-risk, high-return assets. After all, when entering the market at the right time, meme coins can generate significant gains.

In this guide, we explore the 17 best meme coins to buy in 2024.

  • Stake-to-Bridge System
  • Play-to-Earn Game
  • 40% Staking APY
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  • USDT
  • ETH
  • PvP Betting Integration
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  • Automatic Presale Staking
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  • BNB
  • 30 Million Sold in Presale
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  • New Casino Product
Project Launched
May 2023
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Top Meme Coins to Buy Today for High Growth

We identified the following projects as the best meme coins to buy right now:

  1. Sponge V2: Reviving the legacy of the $SPONGE meme coin with a vibrant community of over 30,000, Sponge V2 introduces a unique Stake-to-Bridge mechanism and a Play-to-Earn game, offering an estimated 258% APY in staking rewards. Its successful predecessor reached a $100 million market cap, setting the stage for Sponge V2’s potential ascent.
  2. Bitcoin Minetrix A groundbreaking project, Bitcoin Minetrix introduces the world’s first stake-to-mine platform, allowing users to earn Bitcoin mining rewards by staking BTCMTX tokens. With a staggering $9.7 million raised since the start of the presale, it’s set to redefine Bitcoin mining accessibility. It combines innovative staking and mining, offering a lucrative passive income stream.
  3. Meme Kombat – Dive into the revolutionary world of Meme Kombat, where AI and blockchain collide to craft a thrilling arena for the crème de la crème of meme coins, all on the Ethereum network. $MK is a gateway to a universe brimming with possibilities and utility, offering an enticing 122% APY rewards through its robust staking mechanism.
  4. Scotty the AI – A new artificial intelligence-based cryptocurrency, Scotty the AI detects frauds to safeguard the crypto space. With $SCOTTY – investors can generate up to 1,100% in staking APYs. Investors can also access a token swapping mechanism, an AI chatbot with this presale token. 
  5. Wall Street Memes – Born out of a powerful community that previously launched a successful NFT collection, $WSM has over a million dedicated followers and distinguishes itself with a robust community base, strong presale performance, and the promise of rewarding its supporters. It raised over $25 million USDT in a month, showing strong community support and has since gone live on CEX platforms.
  6. Dogecoin – The original meme coin and the largest by market capitalization, Dogecoin remains a popular cryptocurrency. It has one of the largest token holdings of all cryptocurrencies, a crucial metric for meme coins to thrive. Moreover, Dogecoin is trading at almost 90% below its prior all-time high, offering a great entry point for meme coin investors.
  7. Shiba Inu – Launched in 2020, Shiba Inu is one of the most successful meme coins of all time. Just like Dogecoin, it has a loyal community of holders and a multi-billion dollar market capitalization. To extend its use cases, Shiba Inu is building a decentralized exchange and a fully-fledged metaverse.
  8. RichQUACK – This meme coin project was launched in late 2021. RichQUACK transactions carry a huge tax of 12% to demotivate day traders from manipulating the market. Some of the collected tax is distributed to QUACK holders. RichQUACK has a market capitalization of just over $40 million.
  9. Dogechain – Dogechain has developed an ecosystem that enables Dogecoin holders to access Web 3.0 tools. In addition to NFTs and play-to-earn games, this includes decentralized finance products. Its native meme coin, DC, enables holders to participate in governance decisions.
  10. Milady Meme Coin – This project is one of the hottest meme coins in the market right now. According to CoinMarketCap, Milady Meme Coin has generated returns of over 34,000% in the prior seven days. This has propelled the project to a market capitalization of over $100 million.
  11. Pepe – Pepe is also one of the fastest-growing meme coins in recent weeks. The project, based on the popular Pepe the Frog franchise, continues to trend in the crypto community. Although Pepe was only launched in April 2023, it has already generated over 3,000% in gains. That said, Pepe is currently in a market correction, so those who missed out can secure a discounted entry price.
  12. Floki – Floki is a play on the name of Elon Musk’s dog. This project is more than just a meme coin, though. It’s building a play-to-earn metaverse, a suite of DeFi tools, an NFT marketplace, and a crypto education platform.
  13. Dogelon Mars – Dogelon Mars launched in 2021 at the height of Elon Musks’s influence in the meme world. The token pumped 4,500% soon after launch, although it’s since cooled down. Dogelon Mars still has a broad following, including nearly 450,000 Twitter followers.
  14. Baby Doge Coin – Baby Doge Coin is an ultra-deflationary token that charges a 5% tax on every transaction. The tax is redistributed to token holders, creating a strong incentive for users to buy and hold this shiba inu-themed meme coin.
  15. Banano – Banano soared more than 11,000% between 2020 and 2021, and it’s just waiting for its next chance to surge. This banana-themed token offers multiple faucets to earn free $BAN, including by supporting medical research.
  16. Akita Inu – Akita Inu remains one of the most popular shiba inu-themed tokens and spiked more than 50% in recent weeks. The token gained attention by giving half of its available supply to Ethereum founder Vitalik Buterin, who donated the tokens to charity.
  17. Garlicoin – Garlicoin is a small-cap meme coin that mainly trades on decentralized exchanges. It’s a great token to try out crypto mining because the barrier to entry is low and new blocks are minted every 40 seconds.

We analyze the above list of meme coins in the following sections of this guide.

Profiling the Best Meme Cryptocurrencies to Invest in

One of the challenging aspects of meme coin investing is knowing which projects have the potential to explode. Investors need to consider many factors, such as the meme coin’s use case (if any), online following (e.g. social media), and the current market capitalization.

Below, we help clear the mist by analyzing the best meme coins to buy in 2024.

Note: While some meme coins go on to achieve phenomenal returns, many crash and burn. This makes diversification even more important. Consider this when researching the top meme coins discussed below.

1. Sponge V2 – Reviving a Meme Coin Legend with Innovative Stake-to-Bridge Mechanics

SpongeBob Sponge V2 emerges as a formidable successor to the highly acclaimed $SPONGE meme coin, which captivated the crypto community by soaring to a remarkable $100 million market cap. 

This new iteration is anchored in the groundbreaking Stake-to-Bridge mechanism, a new strategy that seamlessly bridges Sponge V1 holders into the V2 ecosystem. 

Central to Sponge V2’s appeal is its introduction of a Play-to-Earn (P2E) game, a feature that injects a layer of engagement and utility into the meme coin sphere. This integration not only amplifies the fun aspect of the coin but also offers tangible rewards, aligning with the growing trend of gamification in the crypto market. The game promises to be a blend of entertainment and earnings, enhancing the coin’s appeal beyond just speculative trading.

sponge v2 banner

Sponge V2’s community, a robust and vibrant group of over 30,000 members, forms the backbone of the project. This community is a dynamic collective that has witnessed and contributed to the growth and success of Sponge V1. 

With Sponge V2, this community is expected to grow and diversify, attracting both crypto enthusiasts and gamers.

The project boasts an estimated 40% APY in staking rewards over four years, a lucrative offer for long-term investors. This feature emphasizes Sponge V2’s commitment to creating sustained value for its holders and highlights its potential as a long-term investment in the volatile world of cryptocurrencies.

Sponge V2 is expected to list on major cryptocurrency exchanges, expanding its reach and liquidity. This expansion is coupled with a significantly larger marketing campaign aimed at capturing a wider audience and solidifying its position in the market.

Token Info Sponge V2
 Presale Started December 18th, 2023
 Purchase Methods Only Available through Stake-To-Bridge
 Chain Ethereum
 Hard Cap $150 Billion
 Min Investment None
 Max Investment  None

2. Bitcoin Minetrix – Pioneering Stake-to-Mine Platform with Explosive Presale Performance

btc minetrix Bitcoin Minetrix ($BTCMTX) is a brand new revolutionary project in the crypto space, launching the world’s first stake-to-mine token and allowing retail investors to earn Bitcoin mining rewards from just $10.

This innovative project has already sparked immense excitement, raising more than $9.7 million since the start of the presale, showcasing its potential to reshape the Bitcoin mining ecosystem.

The presale of Bitcoin Minetrix has witnessed an overwhelming response, with everyday investors seizing the opportunity to be part of the Bitcoin mining ecosystem without the hassle of managing extensive and energy-consuming mining rigs.

The project aims to democratize Bitcoin mining, lowering the entry barriers and offering a simple solution for users to join Bitcoin mining by purchasing and staking BTCMTX in exchange for cloud mining power.

Bitcoin Minetrix stands out with its unique approach, combining staking and mining, two of the most popular themes in crypto investment, in a way no other projects have. The staking pool has already attracted substantial participation, with more than 600,000 BTCMTX locked, and offers passive token generation through its staking mechanism, generating 158.5 tokens per ETH block with a current APY of 63%.

The robust community around Bitcoin Minetrix is its backbone, with the project’s transparent and user-friendly approach fostering trust and active participation. The dedicated Bitcoin Minetrix mobile app is in the works to make managing tokens incredibly easy, and the project’s commitment to simplicity and accessibility is evident in its minimum purchase requirement of just $10, allowing a wide range of investors to get started on the platform.

Bitcoin Minetrix is not just about earning; it’s about efficient and eco-friendly mining. The project utilizes cloud mining, a more sustainable alternative to traditional Bitcoin mining, allowing individuals or groups to rent or purchase a share of computing power specifically set up for mining without the need to own or manage any other infrastructure.

With its innovative stake-to-mine model, explosive presale performance, and commitment to eco-friendly mining, Bitcoin Minetrix is poised to be a game-changer in the crypto space. Its approach to democratizing Bitcoin mining and its focus on community engagement and transparency make it a promising venture for potential investors.

Token Info Bitcoin Minetrix
 Presale Started September 26st, 2023
 Purchase Methods USDT, ETH
 Chain Ethereum
 Hard Cap $32,000,000
 Min Investment $10
 Max Investment  None

3. Meme Kombat – World’s First Battle Arena for Meme Tokens

meme kombat logo Meme Kombat is the world’s first combat arena built for the best meme coins on the market. With its powerful branding and a diverse selection of meme coin characters, Meme Kombat is designed to appeal to true meme coin enthusiasts.

Meme Kombat Token ($MK) is the fuel of this vibrant ecosystem, launched with a hard cap of 10 million USD, and a total of 12,000,000 tokens. The project is gaining significant traction in Web3 circles, with the CEO/Project lead being doxxed, showcasing transparency and reliability.

Meme Kombat introduces a unique staking mechanism, allowing users to earn rewards with a 122% APY. The platform facilitates outcome-based wagers, token staking, and an intrinsic reward system. The staking feature is not just a lucrative opportunity but a testament to the project’s genuine utility, allowing users to stake and earn meme coins.

The technical architecture of Meme Kombat is innovative, integrating AI and blockchain technologies to offer a seamless and secure experience to users. The project has a well-defined roadmap.

meme kombat

Meme Kombat places a strong emphasis on marketing and community building. It’s not just about creating a token but about building a community of like-minded individuals who believe in the project’s vision and potential. The project is actively engaging with the community through various channels, keeping them informed about the latest developments and updates.

Meme Kombat is a new stake-to-earn meme coin that stands out with its powerful illustrations and branding, a large selection of meme coin characters, and innovative features. 

With its transparent approach, innovative features, and strong community base, Meme Kombat is poised to be a leading project in the meme coin and broader crypto space.

Token Info Meme Kombat
 Presale Started September 21st, 2023
 Purchase Methods USDT, ETH
 Chain Ethereum
 Hard Cap $10,000,000
 Min Investment 0.015 ETH
 Max Investment  None

4. Scotty the AI – New Preslale Crypto Leverages AI to Secure the Crypto Space 

Scotty the AI Scotty logo ($SCOTTY) is a new cryptocurrency that aims to safeguard the cryptocurrency space. This new cryptocurrency leverages advanced AI algorithms to analyze complex blockchain data and detect suspicious activities. 

It can detect frauds and network anomalies and minimize risks with precision and accuracy. Furthermore, the cryptocurrency has the ability to detect suspicious transactions by tracking every block and hash on the blockchain. Scotty the AI will be able to accurately identify and mitiage risks, bringing more stability to the crypto space. 

Scotty the AI presale

$SCOTTY, the native token, has recently been launched on presale. This ERC-20 token has a total supply of more than 1.734 billion – and can be staked on Scotty the AI’s smart contract to earn high APYs (Annual Percentage Yields). 

At press time, $SCOTTY can be staked to earn more than 1,100% in APYs. Through an upcoming feature called the ‘Scotty Swap’, token holders can swap $SCOTTY for other cryptocurrencies. 

Scotty the AI will also release an AI chatbot – capable of answering questions related to the crypto and blockchain space. Thus, investors are flocking to the $SCOTTY presale for all these reasons. 

Scotty the AI features

Since the presale started, Scotty the AI has raised more than $180K. Currently, $SCOTTY is priced at only $0.0051 per token. To learn more about this new project, read the Scotty the AI whitepaper and join the Telegram channel

Token Info Scotty the AI
Presale Started September 21st, 2023
Purchase Methods USDT, ETH
Chain Ethereum
Min Investment 0.015 ETH
Max Investment None

5. Wall Street Memes – Meme Coin with an Engaged Community and Strong Presale Performance

Amidst the meme coin explosion in 2023, Wall Street Memes ($WSM) launched its meme token to offer investors who missed the opportunity with other meme tokens. Stemming from the lineage of the Wall St Bulls NFT collection, the $WSM token is the brainchild of a community that sold 10,000 NFTs within 30 minutes on the Ethereum blockchain in 2021.

The roots of the Wall Street Memes community run deep, boasting over a million followers across various social media platforms. The platform marks a significant audience and garnered attention from high-profile figures like Elon Musk. With this robust network, $WSM stands on the shoulders of giants, potentially sidestepping the ‘pump and dump’ pitfalls other meme coins, like Wojak or Turbo, face.

Wall Street Meme

The total supply is set at 2 billion tokens, half earmarked for presale investors, enabling a strong launch. This community-centric crypto plans to allocate the remaining tokens to reward its users and ensure exchange liquidity.

The presale stage is an exciting time for potential investors, comprising 30 rounds. The inaugural round saw tokens snapped up within the first 24 hours, highlighting the fervor around $WSM. The project’s ambitious vision is to raise over $30.5 million, creating a concrete launch pad for this internet sensation.

WSM Token

This platform has attracted substantial support, raising over $300,000 in the first 24 hours of the presale, rising to $12.6 million within a month. The anticipation for future exchange listings, potentially on reputable platforms like Bybit or Binance, adds to $WSM’s appeal.

In addition, the community fosters engagement through an airdrop, distributing $50,000 in five $10k prizes to followers of their social media channels.

To stay in the loop about the future of meme coins, consider joining the Wall Street Memes Telegram for the latest news and updates on the $WSM presale.

6. Dogecoin – The Original Meme Coin Trading at a 90% Bear Market Discount     

While many meme coins are favored by short-term traders, Dogecoin is considered a long-term project. Dogecoin was launched in 2013 and is the original meme coin. It was created as a joke with no use cases or roadmap objectives. As such, the value of Dogecoin remained minimal for many years.

But today, Dogecoin is one of the largest cryptocurrencies by market capitalization. It also has one of the largest number of token holders in the cryptocurrency industry. It wasn’t until early 2021 that Dogecoin truly blossomed. This was in the midst of the prior bull market, combined with Elon Musk’s regular tweets about the meme coin.

Dogecoin price today

To illustrate its unprecedented growth, CoinMarketCap notes that Dogecoin was priced at $0.005 at the start of 2021. By mid-2021, Dogecoin was trading at $0.74. That converts into gains of over 14,000%. Right now, Dogecoin is trading 90% below its former all-time high. This makes Dogecoin one of the best meme coins to buy for long-term upside.

Read our guide on how to buy Dogecoin on eToro, the FINRA-regulated broker that offers fee-free USD deposits.

Cryptoassets are a highly volatile unregulated investment product.

7. Shiba Inu – One of the Most Successful Meme Coin Stories to Date      

Shiba Inu is one of the most successful meme coins to enter this industry. The project was created in 2020 by an anonymous developer, Ryoshi. The developer’s primary objective was to replicate the investment returns generated by Dogecoin. Although Shiba Inu initially had no use cases, the project was able to create an unprecedented amount of hype.

In turn, Shiba Inu secured a billion-dollar market capitalization in under 12 months of launching. In fact, at its bull market peak, Shiba Inu was valued at over $40 billion. This translates into growth of millions of percentage points for early investors. Today, Shiba Inu is trading at a huge bear market discount of almost 90%.

Shiba Inu price chart

This will appeal to meme coin investors who believe Shiba Inu will return to its former peak during the next bull run. Additionally, Shiba Inu has also created various use cases for its tokens. For example, the project has developed a decentralized exchange and a metaverse. The latter enables SHIB holders to buy virtual land that is backed by NFTs.

Cryptoassets are a highly volatile unregulated investment product.

8. RichQUACK – 12% Sales Tax Shared With Token Holders Enabling Passive Rewards       

Launched in late 2021, RichQUACK is a meme coin project aimed at long-term investors. Its native token, QUACK, carries a huge sales tax of 12%. This was installed to demotivate day traders from manipulating the market. Of the 12% tax collected from sellers, 4% is distributed fairly to QUACK holders.

RichQUACK chart

This enables investors to earn passive rewards simply for HODLing. The remaining tax is allocated for liquidity, marketing, and project development. RichQUACK has also developed an anti-whale mechanism. This restricts any single wallet from holding more than 1% of the total QUACK supply. Currently, this meme coin is trading with a valuation of just over $40 million.

9. Dogechain – Bringing Smart Contracts and Web 3.0 Tools to the Dogecoin Ecosystem       

Dogechain was launched in late 2022 to bring smart contracts and Web 3.0 tools to the Dogecoin blockchain. This will enable Dogecoin holders to access decentralized finance products, such as lending and borrowing. What’s more, Dogechain will also enable Dogecoin to support NFTs and play-to-earn games.

Dogechain price chart

In its current form, Dogecoin does not have the capacity to support these products directly, as it is now compatible with smart contracts. Therefore, Dogechain is one of the best meme coins to buy for real-world use cases. Its native token, DC, enables holders to participate in proof-of-stake governance.

10. Milady Meme Coin – Meme Coin Project With 7-Day Gains of Over 34,000%  

Milady Meme Coin is a prime example of how quickly a meme coin can explode when it creates FOMO (Fear Of Missing Out). According to CoinMarketCap, Milady Meme Coin has generated gains of over 34,000% in the prior seven days. This means a $100 investment in Milady Meme Coin would now be worth over $34,000.

Milady Meme Coin

Although this project is a self-proclaimed meme coin, it does have utility. Put simply, Milady Meme Coin backs the project’s NFT collection. Moreover, those holding a Milady Meme Coin NFT will receive additional tokens. Milady Meme Coin has bridged to the Arbitrum network, enabling NFT holders to trade with low fees.

11. Pepe – One of the Fastest Growing Meme Coins in 2023  

Pepe is one of the top meme coins of 2023, at least in terms of growth. According to CoinMarketCap, Pepe was launched in April 2023. Just a few weeks later, Pepe had surpassed a market capitalization of over $1.6 billion. This makes Pepe one of the fastest-growing meme coins of the year.

Pepe meme coin

Currently, Pepe is trading at $0.000001754 per token. This represents gains of over 3,000% when compared to its initial listing price. That said, Pepe has witnessed a market correction, with its valuation reduced by more than 50% from its peak. Nonetheless, some of the world’s leading exchanges have already listed Pepe, including Binance, Kucoin, and Gemini.

12. Floki – Meme Coin Building Gaming Metaverse and DeFi Platform

Floki is one of the latest shiba inu-themed meme coins to emerge. It’s named after Elon Musk’s dog, Floki.

The coin received a lot of attention during the meme coin craze of the last few weeks, jumping as much as 450% from its listing price. Floki is now listed on several major exchanges including Binance, OKX, Deepcoin, CoinW, and Bitrue. Floki CoinMarketCap

Floki may be a meme coin, but it’s doing some serious work as well. This project is building out a play-to-earn gaming metaverse that it calls Valhalla, after the Norse home of the gods. It’s also developing a set of DeFi tools that it calls FlokiFi. On top of that, Floki plans to roll out an NFT marketplace called FlokiPlaces and an educational platform called the University of Floki.

Most of these efforts still only exist on paper, since the coin is relatively new. However, the promise of so much development means that this is a meme coin worth keeping an eye on.

13. Dogelon Mars – Layering Memes and Waiting for the Next Rocket to Space

Dogelon Mars is a well-established meme coin that dates back to the Dogecoin craze of 2021. Its name incorporates a combination of memes from the time, including Elon Musk’s name and the idea of sending a token into space.

Dogelon Mars CoinMarketCap

Dogelon Mars experienced a massive pump of 4,500% shortly after it listed, and pumped again in October 2021. However, the coin’s price has been sliding ever since as users have moved onto other meme coins.

Nevertheless, Dogelon Mars continues to command a very large community. The token’s Twitter page has nearly 450,000 followers. A tweet from the token’s namesake, Elon Musk, could send Dogelon Mars headed into space again.

14. Baby Doge Coin – Ultra-deflationary Meme Coin Rewarding Long Term Holders

Baby Doge Coin is another shiba inu-themed token that first emerged in 2021, when crypto users seemingly couldn’t get enough of Dogecoin.

BabyDoge CoinMarketCap

What makes this token unique is that it’s ultra-deflationary and encourages long term holding. The project charges a 5% tax on every transaction of Baby Doge Coin, disincentivizing users from selling. That tax is redistributed to Baby Doge Coin holders based on the number of tokens they own. So, users can earn rewards just by holding their tokens.

Baby Doge Coin has aged relatively well and continues to see more than $5 million in daily transaction volume, according to CoinMarketCap. The project’s Twitter account has 1.9 million followers, which it uses to raise awareness around animal welfare issues.

15. Banano

Banano describes itself as a “feeless, instant, rich in potassium cryptocurrency.” It’s one of the more successful meme coins not based on shiba inus or Elon Musk.

Banano CoinMarketCap

The idea behind Banano was not only to have fun, but also to create a network for feeless transactions. That’s rare in the crypto world, since transactions necessarily carry processing costs.

Banano also offers tons of ways for users to earn more $BAN tokens, including simply by messaging with other Banano users. Another way to earn $BAN is to contribute computing power for medical research, which is good for the world even as it enables users to earn.

Banano soared more than 11,000% after its debut in 2020. However, it’s been relatively dormant during the past year and didn’t receive a bump during the latest meme craze.

16. Akita Inu

Akita Inu was created as a follow-on to the popular Shiba Inu project and uses much of the same underlying code. The main difference is in the project’s tokenomics.

Akita Inu CoinMarketCap

When the project launched, it sent half of its token supply to Vitalik Buterin, the founder of Ethereum. It sent the other half to a Uniswap pool and burned the keys. Buterin donated the tokens to the India Covid Relief Fund and other charities.

While Akita Inu doesn’t have the same utility as newer meme coins—and the unusual tokenomics make it less suitable as a long-term investment—the project still experiences the occasional bounce for traders to take advantage of. Trading activity spiked in the first months of this year, seeing $AKITA jump more than 50% for a short period.

17. Garlicoin

Garlicoin is a small-cap, garlic-themed meme coin that focuses on accessibility and low transaction fees. It’s especially attractive for users who want to try their hand at mining tokens. Anyone with a computer can mine Garlicoin thanks to its ASIC-resistant proof-of-work algorithm. Plus, new blocks are minted every 40 seconds, so rewards are distributed frequently.

Garlicoin CoinMarketCap

Garlicoin’s environment is fun and festive, encouraging users to stick around with this little-known meme coin. It also offers faucets that release Garlicoin rewards every 8 hours.

Garlicoin has relatively low trading volume on CoinMarketCap because it’s listed on only a few centralized exchanges. However, the token is more popular on decentralized exchanges like PancakeSwap, Uniswap, and TradeOgre.

What are Meme Coins?

Put simply, meme coins are cryptocurrencies that follow a popular meme or trend. For example, the original meme coin, Dogecoin, is based on the Shiba Inu dog breed. Similarly, while Pepe is based on Pepe the Frog, Sponge has taken inspiration from the SpongeBob SquarePants franchise.

Either way, many meme coins are created without any use case. In turn, investors buy meme coins for speculative reasons. The hope is that more and more people buy the respective meme coin, pushing up its market value. This can happen when a meme coin project has a huge community following and media attention.

Best meme coins to buy

For example, consider that when Shiba Inu was launched to the public in 2020, its primary objective was to become a ‘Dogecoin Killer‘. Nonetheless, investors bought SHIB tokens in their droves, giving Shiba Inu a market value of over $1 billion in under 12 months. Crucially, this highlights that the meme coin market is both unpredictable and irrational.

Some of the most successful meme coin projects have no utility or real-world uses but have gone on to generate huge returns nonetheless. While meme coins won’t appeal to risk-averse investors, an effective strategy is to diversify across multiple projects. After all, only one meme coin needs to explode to make the process worthwhile.

History of Meme Coins

Here’s a quick overview of the meme coin journey:

  • Dogecoin was the first meme coin to enter the market in 2013. It was created as a joke and had no use cases.
  • According to CoinMarketCap, Dogecoin was originally priced at $0.00030 when it launched.
  • Fast forward to 2021 and Dogecoin hit an all-time high of $0.74. This represents gains of almost 250,000%
  • More than 10 years since Dogecoin was created, more than 650 other meme coins have entered the market. This gives the meme coin market a valuation of over $17 billion
  • While Dogecoin and Shiba Inu represent the vast majority of the industry’s value, many other meme coins are worth considering.
  • This includes presale projects like Wall Street Memes and AiDoge, both carrying small market capitalizations.
  • Many leading meme coins have witnessed a huge decline since the prior bull market peaked. For example, Dogecoin is trading 90% below its all-time high.

Why Invest in Meme Coins?

The core reason why people buy meme coins is for speculative gains. Meme coin investors are not interested in making 10% a year from the stock market. On the contrary, they are happy to take huge risks to generate life-changing returns.

In this section, we discuss why meme crypto coins are increasingly becoming popular with speculative investors.

High Growth Potential

It goes without saying that people buy meme coins to make significant returns. The hope is that the chosen meme coin will replicate the successes of Dogecoin and Shiba Inu. After all, these meme coins have created life-changing returns for early investors. These are returns that would take the S&P 500 many centuries to replicate.

For example, Markets Insider notes that Shiba Inu had generated returns of over seven million percent at its peak in 2021. This means an investment of just $10 would have been worth $70 million. While investors have missed the boat on Shiba Inu, there are many alternatives to consider.

We found that the best meme cryptocurrency to invest in is Wall Street Memes. This presale project has raised over $2.6 million within a week, enabling early investors to secure a discounted price.

Low Token Price

A key characteristic of most meme coins is they have a low token price. While this doesn’t increase the market potential of the meme coin, it does appeal to investors that want to purchase a large number of tokens.

For example, every $100 invested in the Wall Street Memes presale will yield millions of $WSM tokens. In contrast, a $100 investment in Bitcoin would secure a tiny fraction of one token.

Easy to Diversify 

We mentioned earlier that there are over 650 meme coins in this industry. And more are entering the meme coin market every day. While this makes it difficult to know which meme coin to buy, this makes diversification a breeze.

  • For example, suppose an investor has $500 to invest in meme coins.
  • Investing the entire amount in one meme coin wouldn’t be smart.
  • After all, if the meme coin is not successful, the investor will likely be left with worthless tokens.
  • Instead, a more risk-averse approach would be to buy 10 different meme coins at $50 each.

If just one of the chosen meme coins explodes, this can still yield significant returns.

Bear Market Discounts 

There are some notable discounts available in the current crypto winter. This includes many of the meme coins discussed today. For example, Dogecoin is trading 90% below its former all-time high.

Some investors believe that when the next bull market arrives, Dogecoin will return to its prior peak. If it does, that would require an upside of over 900% based on current prices.

Potential Risks of Trading Meme Coins

Meme coins are super-risky, especially those without any identifiable use cases. The hope is that waves of other people will also buy the chosen meme coin, creating hype and FOMO. But most meme coins fail to achieve this goal, considering how oversaturated the market now is.

It can be tempting to go all-in when researching meme coins that will explode. But the reality is that most meme coins fail to deliver.

Read on to discover the main risks associated with meme coins and how to mitigate them.

Market Volatility

Meme coins, like many cryptocurrencies, operate in a highly volatile market. While a meme coin can generate huge returns in a short period of time, it can also lose most of its value just as quickly.

This is the case with some of the best meme coins discussed today. For example, Shiba Inu was trading with a market capitalization of over $40 billion in late 2021. Those buying Shiba Inu at its peak will now be looking at losses of almost 90%.

This highlights that meme coin investments are also about timing. Knowing when to enter and exit the market is crucial. History suggests that the best time to buy meme coins is at the start of their journey.

Scams and Frauds

Not all meme coin projects are created with good intentions. On the contrary, some turn out to be a scam.

  • For example, a common tactic employed by scammers is a rugpull.
  • The idea here is simple; a developer will create a flashy presale website listed with some core objectives.
  • Investors buying into the presale project believe they are investing in a legitimate project.
  • But once the presale is over, the project will disappear with investors’ funds.

Fortunately, only a small minority of meme coin presales turn out to be a rugpull. But investors should ensure they do their due diligence before investing. What’s more, diversification will ensure that a bad investment decision only impacts a small percentage of the overall portfolio.

Another scam to look for is market manipulation. This is where the developers behind the project artificially pump and dump their own tokens. This leaves many investors with considerable losses.

Limited Use Cases

Another risk to consider is the meme coin’s use case. While some of the best meme coins for 2023 have no utility, it’s a safer bet to stick with those that do.

After all, once the initial price surge is over, there is little reason for new investors to buy a meme coin if there is no use case.

Even established meme coin projects like Shiba Inu have recognized this. As noted earlier, Shiba Inu has developed a decentralized exchange and a metaverse.

Do Meme Coins Have Any Uses?

There is often a misconception that across the board, meme coins do not have use cases. As noted earlier, Dogecoin was created as a joke. For many years, Dogecoin was used as a tipping currency on the Reddit forum. Moreover, many meme coins are based on popular trends or entertainment themes.

  • For example, Pepe is a meme coin with no use cases other than replicating Pepe the Frog.
  • But nonetheless, Pepe has already secured a market capitalization of nearly $700 million.

That said, some of the most popular meme coins actually have use cases.

Dogecoin, one of the major meme coins, can even be made to purchase real world products from various companies, most famously Tesla. Various companies also accept Shiba Inu payments. With this in mind, meme coin investors are now turning to projects that have real-world utility.

Who Creates Meme Coins?

Put simply, anyone can create a meme coin with the required technical know-how. Some meme coins are even outsourced to developers on Fiverr. Either way, meme coins generally operate on top of an established blockchain like Ethereum or Binance Smart Chain.

These blockchain networks enable anyone to create a new token. For instance, meme coins operating on the Ethereum blockchain follow the ERC-20 standard. While those on the Binance Smart Chain follow the BEP-20 token standard.

Another point to consider is that some of the best meme coins to buy were created by anonymous developers. This includes Shiba Inu, with the creator simply known as Ryoshi. While this does add to the risk factor, the blockchain concept was developed with privacy in mind. As such, meme coins backed by anonymous creators are now the norm.

How to Pick Which Meme Coins to Buy?

Wondering how to find the next meme cryptocurrency to explode in 2023?

Here are some tips to help clear the mist:

  • Look for Quality Presales: Those investing in the Shiba Inu presale in 2020 witnessed life-changing returns. This is because presales offer new meme coins at a huge discount. One of the best meme coin presales right now is Wall Street Memes, having already raised over $2.6 million in just a week.
  • Focus on Meme Coins With Utility: As noted, the best meme coins to buy in 2024 have real-world utility. This ensures that there is a reason to buy the meme coin, rather than just speculation.
  • Search for Bear Market Discounts: Another strategy when searching for meme coins that will explode is to look for bear market discounts. This means buying meme coins when the price has declined due to broader market conditions. For example, both Dogecoin and Shiba Inu are trading at discounts of approximately 90%.
  • Browse Relevant Forums on Reddit: Reddit is one of the best places to find new meme coin launches. In fact, projects will often post information about their meme coin on Reddit, enabling potential investors to ask questions. Reddit also enables investors to gauge the sentiment of other forum users.
  • Use Keywords on Social Media: Another tactic is to search social media platforms with notable keywords. For example, consider searching on Twitter for terms like #bestmemecoin or #trendingmemecoins. From there, explore how much hype the meme coin project is attracting from the crypto community.

These are just a selection of common strategies when searching for the best meme coins to buy. In addition to this, investors should consider that meme coins are risky. Meme coin investors can lose some or even all of their investment, so tread with caution.


In summary, meme coins have the potential to generate life-changing returns. But equally, meme coins are risky, so investors should ensure they are well-diversified.

One of the best meme coins is Sponge V2 ($SPONGEV2) – an upgraded version of the Sponge token. This crypto launched in 2023 – and soared to a market cap of almost $100 million in months. Now, the upgraded token version offers staking yields and access to a play-to-earn environment.


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Kane Pepi Financial Writer Expert

Kane Pepi Financial Writer Expert

Kane Pepi is a hugely experienced finance writer, with over 2,000 published articles covering everything from the top trending crypto coins to how to buy stocks.

Present research interests include the money laundering threats found within the virtual currency arena. This includes knowledge of blockchain technology, cryptocurrencies, consensus models, mining capabilities, the strengths and weaknesses of initial coin offerings (ICOs) and virtual regulation.

Kane holds a Bachelor's Degree in Finance and a Master’s Degree in Financial Crime. He has now begun his Doctorate journey.