13 Best Meme Coins to Buy in April 2024

While meme coins have little to no use cases, they remain very popular with crypto investors. The speculative nature of meme coins means they can produce significant returns in a very short period of time.

In this guide, we reveal the 13 best meme coins to buy right now. Read on to discover new and established meme coin projects with the greatest upside potential.

Ranking the 13 Best Meme Coins to Buy Today

In our view, here’s the 13 best meme coins to buy right now:

  1. Dogeverse (DOGEVERSE)The first multi-chain Doge token that offers lucrative staking rewards.
  2. Slothana (SLOTH): The latest Solana meme coin that aims to pump in 2024. Slothana will outshine other SOL tokens and reward participants with an exclusive token airdrop.
  3. Sponge V2 (SPONGE)The second version of Sponge token that could explode in 2024.
  4. Smog (SMOG) – Solana’s best meme coin airdrop with high APY staking. It surged 2000% since launch.
  5. Dogecoin20 (DOGE20)The more sustainable version of Doge coin that has a deflationary supply and on-chain staking. Dogecoin20 promises lucrative returns for long-term holders.
  6. Meme Kombat (MK) – This is a brand-new project that’s just launched its presale – so you can invest from the ground up. Unlike many meme coins, Meme Kombat has a solid use case. It’s developed a gaming ecosystem that allows players to bet on meme character battles. Gaming outcomes are interactive and backed by AI for total randomness and legitimacy. MK – the project’s native meme coin, also offers staking rewards of 112%.
  7. Dogecoin (DOGE) – The original meme coin, Dogecoin, is also worth considering for your portfolio. Held by Elon Musk and accepted as payment for Tesla merchandise, Dogecoin is often billed as the ‘People’s Crypto. Dogecoin produced growth of 14,000% in the first five months of 2021 before peaking. However, current prices offer an attractive entry point – Dogecoin is trading over 90% below its all-time high.
  8. Shiba Inu (SHIB) – Shiba Inu is a popular meme coin that was launched in 2020 as a Dogecoin alternative. It’s since become a multi-billion-dollar project with one of the largest number of token holders. Shiba Inu has generated growth of several million percent since launching, helping early investors produce life-changing gains. That said, bear market conditions mean that Shiba Inu is now trading at a 90% discount from its peak.
  9. Pepe (PEPE) – This meme coin is one of the latest success stories to rock the crypto world. After launching in April 2023, Pepe generated gains of 7,000% in under a month. Although the value of Pepe has since declined, it’s still up over 1,100% from its listing price. What’s more, if you believe meme coins will rally during the next bull run, you can buy Pepe 83% below its prior all-time high. Pepe is listed on many tier-one exchanges, including Binance and Kraken.
  10. FLOKI (FLOKI) – FLOKI is another meme coin that wants to build long-term value for its community. It has developed a play-to-earn metaverse game and decentralized finance products. FLOKI has also built an NFT marketplace and an education platform. Now valued at just under $150 million, FLOKI is trading 95% below its all-time high. This represents good value for those entering the market today.
  11. Baby Doge Coin (BabyDoge) – Like many meme coins, Baby Doge Coin takes inspiration from Dogecoin and the Shiba Inu dog breed. The project’s USP is that it taxes transactions at 5% and then distributes the funds to existing token holders. This means that long-term holders can generate passive rewards even when the markets are bearish. Baby Doge Coin has a market capitalization of $155 million and is currently trading 95% below its all-time high.
  12. RichQUACK.com (QUACK) – RichQUACK.com is a meme coin project that was launched in 2021. This is a deflationary meme coin with a regular burning mechanism. RichQUACK.com has also built an ecosystem that supports stake rewards, DAO voting, and a launchpad for new projects. This meme coin has a small market capitalization of $21 million. QUACK tokens are now trading 98% below their prior highs.
  13. Bonk (BONK) – This is one of the few meme coins to operate on the Solana blockchain. Bonk was initially distributed as a free airdrop, so it didn’t hold a presale. That said, Bonk now has over 462,000 token holders and is listed on many popular exchanges, including Gate.io and Bybit. Bonk has a valuation of just over $11 million, so this meme coin will suit small-cap investors. This is another meme coin that’s trading at a huge discount. It’s currently 95% below its all-time high.

A Closer Look at the Best Meme Coins to Invest in 2024

Choosing the best meme coin investments for your portfolio is no easy feat. In many cases, meme coins don’t have any use cases, utility, or long-term objectives. Instead, many meme coins are successful because of hype, FOMO, and speculation.

To help clear the mist, we’re now going to analyze the top 10 meme coins to consider buying in 2024.

1. Dogeverse (DOGEVERSE) – The first multi-chain meme coin with utility

Dogeverse is the ‘chain hopping Doge’ that will be launched on six major blockchain networks including Ethereum, Polygon, Solana, Base, Avalanche and Binance Smart Chain.

The new meme token aims to increase the accessibility of the Doge ecosystem, allowing investors from various corners of the market to take part.

dogeverse best meme coin

The multi-chain compatibility will allow investors to access low fees and fast transaction speeds.

Dogeverse tokens can be staked on the Ethereum blockchain for passive rewards. This will encourage long-term holding and bring stability to the project.

The max supply of tokens is 200,000,000,000. 15% of these are available to buy in the ongoing presale event, which you can take part in using ETH or USDT.

 Your money is at risk.

2. Slothana (SLOTH) – The best SOL meme coin to buy in 2024

Solana meme tokens have been making waves so far in 2024 with the likes of BONK and SLERF generating significant returns for investors. If you missed the chance to profit from these explosive projects, Slothana could be your next chance to take advantage of a pump.

slothana meme token

Slothana is a true meme coin with no real utility. However, the project does mention an airdrop on it’s official presale site. This could provide early investors with a chance to earn free tokens for holding SLOTH.

Much like other Solana tokens that have surged in 2024, Slothana will use viral marketing and FOMO to attract investors and drive the value of SLOTH coin.

Your money is at risk.

3. Sponge (SPONGE) – One of the most successful meme tokens to buy for short term gains

Sponge makes our list of the best meme coins due to the fact that the token has already seen excellent returns after it’s first presale round in 2023.

Now, the project has decided to launch a second presale that will provide investors with another chance to see returns.

The new presale will support the roll-out of the VF2 token – a second version of SPONGE that brings added utility to the ecosystem.

spongev2 best meme coins 2024

The Sponge V2 token can be used for play-to-earn gaming and staking, providing investors with multiple ways to earn rewards.

If the project manages to replicate the success of the first presale, early investors could see huge returns on their investment. The presale is selling out quickly and there is not long left to buy SPONGE for a discounted price.

To acquire V2 tokens, you must buy V1 tokens from the presale and stake them for V2 rewards.

Your money is at risk.

4. Smog (SMOG) – Solana’s Best Meme Coin Airdrop With High APY Staking

Overall, Smog (SMOG) is our number one pick as the best meme coin to buy. It is a new meme coin on Solana that has quickly captured investor attention with its massive market growth and unique features. 

Launched directly on Solana’s Jupiter DEX on February 7, 2024, $SMOG’s price surged from $0.001419 to $0.04 in just a week, marking a 2000% increase. The token’s market cap surged from $2 million to over $70 million, showing its rapid rise in popularity.

A key feature of Smog is its ‘Greatest SOL Airdrop’ campaign, which offers 490 million of the 1.4 billion total supply through various rewards and prizes. 

Holders can earn airdrop points by engaging with Smog’s social media channels and participating in on-chain activities such as buying, holding, and staking.

Smog Presale

Additionally, Smog offers an attractive staking yield of 42% APY, with staked tokens locked for 90 days, incentivizing long-term investment.

With no presale, the platform’s fair launch approach ensures a fair entry for all investors, improving trust and legitimacy. Furthermore, 50% of the token supply is allocated for marketing efforts to build a strong community and drive the project’s success. 

Smog also has cross-chain accessibility with a bridge to Ethereum, expanding its reach and potential user base.

Smog Presale

With 10% of the supply reserved for future centralized exchange listings, Smog is positioning itself as a strong contender in the meme coin space, aiming to rival the success of coins like Pepe Coin. 

Users can stay updated on Smog’s progress by joining its Telegram group and following it on X (Twitter).

Hard Cap N/A
Total Tokens 1.4 billion
Tokens available in presale Not a presale
Blockchain Solana
Token type SPL
Minimum Purchase None
Purchase with ETH, USDT, USDC, SOL or any other Solana-based token

5. Dogecoin20 (DOGE20) – Doge-themed meme coin with on-chain staking

The original Doge is one of the most sought-after meme coins to buy in 2024. However, the original token uses energy-intensive PoW consensus and has an inflationary supply which means that Doge will never be scarce.

Dogecoin20 is a second version of Doge that aims to solve these problems. The new token is built on the sustainable Ethereum blockchain and has a capped supply of 140 billion.

dogecoin20 best meme coins

The use of the Ethereum network means that Dogecoin20 is more accessible and scalable than its predecessor. Dogecoin20 is compatible with most ERC20 wallets and can be traded easily on exchanges.

The main reason to invest in Dogecoin20 is to take advantage of upcoming gains as well as staking rewards. The token is likely to do well during the anticipated crypto bull run due to its popular theme and reward potential. To take advantage of future gains, the best time to invest is during the ongoing presale.

Your money os at risk.

6. Meme Kombat – New Presale Project With a Solid Utility 

Meme Kombat is a brand-new meme coin project that has just launched its presale campaign. It’s already raised over $60,000 from early investors who want to lock in the lowest entry price possible. Unlike many meme coins, Meme Kombat has a clear vision, solid utility, and a unique product offering.

In a nutshell, Meme Kombat has built a blockchain-based gaming platform. It’s a battle-style game where players need to predict the winning character. Each character is backed by a popular meme, including Pepe, Shiba, FLOKI, and Doge. Not only are Meme Kombat battles fun and interactive, but players can place wagers on who they think will be victorious.

The betting feature is split into two categories. One option is for players to bet against each other on a peer-to-peer basis. This will appeal to players who want to gamble alongside their friends. The second option is to bet against the Meme Kombat platform. This operates like a conventional sportsbook, as each betting market will have real-time odds.

Meme Kombat presale

Odds are determined by various factors, including the strengths and weaknesses of each meme character. Meme Kombat will support pre-match and in-play betting. Most importantly, Meme Kombat has implemented smart contracts into its ecosystem to ensure betting outcomes are fair and random.

All outcomes can be verified on the Ethereum blockchain via hashing seeds. What’s more, artificial intelligence is also being used by Meme Kombat. This is to ensure that meme battles are unique and engaging, rather than following the same mundane process. The underlying meme coin backing the project is MK.

MK has a solid use case, as players need to stake their tokens to access the betting dashboard. This will also generate passive staking rewards; APYs currently stand at 112%. All that being said, we must stress that Meme Kombat is unproven in the meme coin space. Its gaming ecosystem hasn’t been launched either, so you’ll be investing before the project has a proof-of-concept.

Meme Kombat presale

On the flip side, the added risk you’re taking is reflected in the presale price on offer. Each MK token is being sold for just $1.667. 6 million tokens have been allocated for the presale, which is 50% of the total MK supply. This means that once the presale is over, Meme Kombat will have a market capitalization of just over $10 million. You can invest in Meme Kombat with USDT, ETH, or BNB.

Hard Cap $10,002,000
Total Tokens 12,000,000
Tokens Available in Presale 6,000,000
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase 5 MK
Purchase with USDT, ETH, BNB

7. Dogecoin – The Original Meme Coin That’s Owned by Elon Musk and Now Trading at a 90% Discount         

Launched in 2013, Dogecoin is the original meme coin to enter this niche market. Dogecoin was initially created as a joke to highlight how irrational cryptocurrencies had become. The value of Dogecoin remained stagnant for many years. While DOGE tokens were used to tip Reddit users, the broader markets didn’t really see any identifiable use cases.

That was until early 2021 when Elon Musk showed an unprecedented interest in the meme coin. Musk called Dogecoin the “People’s Crypto” and Tweeted that it was one of the few digital assets he personally owned. Musk’s interest in Dogecoin sent the marks into a frenzy. In the first five months of 2021, Dogecoin increased by over 14,000%.

Dogecoin price

What’s more, Tesla – the world’s largest carmaker, holds Dogecoin on its balance sheet. Although Tesla sold the majority of its Bitcoin holdings in 2022 to boost its cashflow position – it never sold any Dogecoin. So what does the future hold for Dogecoin and is it still one of the best meme coins for 2024?

Currently, Dogecoin is trading at huge bear market discounts. In 2021, Dogecoin peaked at an all-time high of $0.74. Right now, you’ll pay just $0.06. This offers an entry price 90% below Dogecoin’s all-time high. As such, many Dogecoin investors are quietly increasing their exposure to the meme coin in preparation for the next bull run.

Cryptoassets are unregulated & highly speculative. No consumer protection

8. Shiba Inu – Large-Cap Meme Coin Building its Own Ecosystem for Long-Term Holders       

Shiba Inu was founded in 2020 as a meme coin alternative to Dogecoin. The message to investors was simple – if you missed the Dogecoin pump then Shiba Inu offers a second chance to replicate similar gains. Shiba Inu delivered on its promise. According to CoinMarketCap data, Shiba Inu was originally priced at $0.000000000056.

Shiba Inu then went on a parabolic run that saw it become one of the fastest cryptocurrencies to hit a market capitalization of $1 billion. By October 2021, Shiba Inu was valued at over $40 billion. It hit an all-time high of $0.00008845. So, when compared to its original listing price, this represents gains of over 157 million percent.

Shiba Inu price

At the time, Shiba Inu had no use cases or vision – other than becoming a ‘Dogecoin Killer’. This shows the irrationality of the meme coin space. That being said, Shiba Inu continues to work on building a unique ecosystem for its long-term holders. It wants to add value to Shiba Inu rather than being a speculative token.

For example, ‘Shibarium’ is a layer 2 solution for the Ethereum network. This will enable Shiba Inu to launch decentralized applications and support autonomous smart contract agreements. This includes the ‘Shibaverse’, which is Shiba Inu’s version of the metaverse. From a price perspective, Shiba Inu offers good value right now – it is trading 90% below its all-time high.

Cryptoassets are unregulated & highly speculative. No consumer protection

9. Pepe – 7,000% Gains in Under a Month After Launching in April 2023        

As one of the newest Binance listings, Pepe is one of the newest meme coins to produce unprecedented gains for early investors. This project takes inspiration from Pepe the Frog – a popular meme character based on the Boy’s Club comic series. Pepe has no use cases or utility, so the project is fueled by hype and FOMO.

According to CoinMarketCap data, Pepe was launched on crypto exchanges on April 17, 2023. It was originally priced at just $0.00000006036. Less than a month later, Pepe hit an all-time high of $0.000004354. This means that Pepe increased by over 7,000%. After peaking in early May 2023, Pepe has been on a prolonged decline.

Pepe review

However, interest in Pepe is growing again, with the meme coin up 12% over the prior week. Moreover, Pepe is on over 152,000 watchlists on CoinMarketCap, making it one of the most talked about meme coins. Right now, you can buy Pepe at an 83% discount from its all-time high. This offers an attractive entry price and gives you plenty of upside to target.

10. FLOKI – Solid Meme Coin Project With a Suite of Decentralized Products and Services        

FLOKI is another meme coin that has recognized the value of utility. As explained by the project itself; “From meme to utility, Floki has it all”. For example, FLOKI has developed a play-to-earn game that operates in the metaverse. Known as ‘Valhalla’, players need to hold a minimum number of FLOKI tokens to access the game.

All in-game items are represented by NFTs, ensuring that players own the items they earn. There’s also an NFT marketplace that allows players to sell their in-game assets. FLOKI has also developed a decentralized finance platform. This includes vaults for securely storing cryptocurrencies and NFTs, fully audited by Certik.

FLOKI review

FLOKI has even built its own online university that’s packed with content and educational resources. FLOKI hopes that its growing suite of products and services will legitimize it as a solid long-term investment. In terms of value, FLOKI’s market capitalization currently stands at just under $150 million. FLOKI tokens are now trading 95% below their all-time.

11. Baby Doge Coin – Popular Meme Coin With a 5% Tax That’s Distributed to Existing Holders        

Baby Doge Coin is a meme coin project that was launched in 2021. Like many meme coins in the market, it takes inspiration from Dogecoin and the Shiba Inu dog breed. One of the benefits of holding Baby Doge Coin is that it has a 5% transaction tax. Not only does this discourage speculative trading but it rewards loyalty.

This is because the 5% tax is proportionally distributed to existing token holders. This makes Baby Doge Coin one of the best meme coins to buy for passive income. Baby Doge Coin is also building an ecosystem to offer additional value for token holders. This includes a fully-fledged prepaid debit card that’s backed by Visa and MasterCard.

Baby Doge Coin review

Users can load their cards with Baby Doge Coin and make purchases in the real world. Baby Doge Coin also allows users to create unique artworks that are backed by NFTs. This meme coin project is currently valued at just $155 million. Baby Doge Coin is also one of the cheapest meme coins to buy – you’ll currently pay just $0.000000001042. This is almost 95% below its all-time high. 

12. RichQUACK.com – Small-Cap Meme Coin Trading 98% Below Its Bull Market High        

RichQUACK.com is one of the best meme coins for small-cap investors. This project trades with a market capitalization of just $21 million, so there’s plenty of upside to target during the next bull market. What’s more, CoinMarketCap data shows that QUACK tokens are now trading at just $0.0000000004947.

When compared to its all-time highs, this means that RichQUACK.com is trading at a discount of 98%. Although RichQUACK.com is a meme coin, it has developed an ecosystem with various tools. This includes decentralized staking pools – APYs are currently at 15.27%.

RichQUACK.com price

That said, token holders need to pay a 2.5% entry fee when staking, which is unusual.  In addition, RichQUACK.com has also developed a launchpad. This enables new cryptocurrencies to raise presale funding. RichQUACK.com has also created a DAO, enabling QUACK holders to vote on project proposals.

13. Bonk – Solana-Based Meme Coin Project With Over 462,000 Token Holders     

Bonk also makes our list of the best meme coins to buy today. This is one of the few meme coins that operates on the Solana blockchain. This means that Bonk benefits from fast, cheap, and highly scalable transactions. When Bonk was launched in December 2022, tokens were given away as a free airdrop.

More specifically, Bonk was distributed to members of the Solana community. Since then, Bonk has acquired over 462,000 token holders. What’s more, Bonk has secured some solid exchange listings. This includes tier-one exchanges like Gate.io and Bybit.

Bonk price

That being said, Bonk has a tiny market capitalization of just over $11 million. Although this means increased volatility and risk, this offers an attractive upside to target. Moreover, Bonk is on nearly 31,000 watchlists on CoinMarketCap, so it’s clearly gaining traction. Right now, you can buy Bonk tokens 98% below their all-time high.

Our Methodology When Ranking the Best Meme Coins

  • To rank the best meme coins to buy in 2024, we employed a broad methodology. This ensured that a wide range of meme coins were covered, enabling you to make an informed decision.
  • In addition, our methodology also covered small and large-cap meme coins – and everything in between. For instance, while Dogecoin has a market capitalization of over $8.5 billion, Bonk is valued at just $11 million. This enables you to target different risk-reward profiles when investing in meme coins.
  • Our methodology also considered the use case of each meme coin, if any. For example, we found that some meme coins are building their own ecosystems. The objective here is to offer long-term value to token holders.

Although our methodology is meticulous, you should remember that meme coins are high-risk investments. Therefore, you should only buy meme coins after doing your own due diligence.

What is a Meme Coin?

According to CNBC, meme coins are cryptocurrencies based on popular culture references. The original and largest meme coin by market capitalization is Dogecoin. Launched in 2013, Dogecoin was created as a joke. It uses the Shiba Inu dog breed as its logo and has no identifiable use cases or objectives.

Even so, Elon Musk refers to Dogecoin as the “People’s Crypto”. Just like Dogecoin, many meme coins are created without any long-term goals, nor do they solve any real-world issues. However, the reality is that meme coins are extremely popular with crypto investors. Most people buy meme coins for speculative reasons.

Dogecoin.com

And because of this, meme crypto coins can generate unprecedented hype and FOMO. This can result in meme coins exploding in value in a very short period of time. For example, Pepe is a meme coin purely. Inspired by Pepe the Frog, it was launched in April 2023 and generated gains of 7,000% in less than a month.

Then there’s Shiba Inu, which grew by over 157 million percent after launching in August 2020. All that being said, some meme coins aim to create additional value by building their own ecosystems. For instance, Shiba Inu has built a layer 2 solution for Ethereum, which now enables it to offer metaverse experiences, virtual real estate purchases, and other DeFi products.

Benefits of Investing in Meme Coins

This section discusses the benefits of investing in meme coins in 2024. Read on to assess whether meme coin investments are right for your portfolio objectives.

High Investment Returns

Meme coins are highly speculative – the objective is to buy low and sell for many multiples higher. History suggests that meme coins have the capacity to generate unprecedented growth, even when they don’t possess any identifiable use cases. In many cases, meme coins produce huge gains in a very short period of time – often weeks or even days.

Either way, meme coins are ideal if you’re looking to make some high-risk high-return investments.

  • One of the best meme coin successes is Shiba Inu.
  • As we mentioned earlier, Shiba Inu was created as a ‘Dogecoin Killer’. It claimed to offer investors the chance to target similar returns to Dogecoin.
  • If you had invested in Shiba Inu when it was first created, you would have paid just $0.000000000056 per SHIB.
  • Fast forward 14 months after its launch and Shiba Inu peaked at $0.00008845.
  • In simple terms, it increased by over 157 million percent.

If you’re wondering how an asset can increase by this much – it’s all down to market capitalization. That is to say, new meme coins enter the market with little value. But once they can begin building hype and increase mass awareness, prices can increase parabolically. For instance, if a meme coin has a market capitalization of $2 million and it grows by 4,900%, it’s still only valued at $100 million.

In reality, this is still a relatively modest market capitalization. After all, at its peak, Dogecoin was worth over $78 billion. Similarly, Shiba Inu was valued at over $40 billion during the prior bull market. Therefore, some of the best meme coins to buy have a small market capitalization – this enables you to target significant growth.

What is the Best Market Capitalization When Buying Meme Coins?

  • Before investing in meme coins, it’s important to know the market capitalization of the project.
  • This informs you of the meme coin’s valuation, based on the number of tokens in circulation and the current market price.
  • Some investors prefer meme coins with a larger market capitalization, as there’s likely to be less volatility. On the flip side, some investors opt for small-cap meme coins, as the upside potential is much higher.
  • The best approach is to build a diversified portfolio with small and large market capitalizations. This offers a more balanced investment strategy that covers a wide range of potential outcomes.

Rapid Short-Term Gains 

On the one hand, meme coins like Shiba Inu and Dogecoin rewarded long-term holders handsomely. However, some of the best meme coins to buy offer short-term opportunities. It’s all about buying at the right time, riding the wave, and cashing out your gains. This is easier said than done, as there are an increasing number of meme coins to choose from.

TAMA price chart

Nonetheless, there are many recent examples of meme coins that have exploded before witnessing a complete reversal. For example, Tamadoge held one of the best crypto presales of 2022 – raising over $19 million. Early investors paid $0.01 for its native meme coin – TAMA. After the presale, TAMA was listed on OKX. Within a week, TAMA increased to almost $0.20 – producing gains of nearly 2,000%.

Another example is Pepe, which we mentioned earlier. Pepe required less than a month to produce growth of 7,000%. Once again, this was due to Pepe having a small market capitalization combined with hype and FOMO.

Now consider how long it would take for mega-cap cryptocurrency to produce similar gains. Considering that Bitcoin is worth just over $510 billion, gains of 7,000% would require a market capitalization of over $35 trillion. This won’t be happening any time soon.

Established Meme Coins Trade at Huge Discounts  

Although you might have missed the boat with established meme coins like Dogecoin, Shiba Inu, and FLOKI – these projects still offer an attractive investment thesis. Put simply, like many of the best cryptocurrencies to buy, established meme coins have been hit hard by the bear market.

This means that the majority of cryptocurrencies have lost considerable value since late 2021. This was when the prior bull market peaked. As an investor, you can buy the most popular meme coins at a huge bear market discount.

  • For example, Dogecoin is now trading at about $0.06. When it peaked in 2021, it was trading at $0.74. So, by investing in Dogecoin today, your cost price is 90% lower than its all-time high.
  • Shiba Inu is also trading at a discount of about 90%.
  • Similarly, FLOKI can be purchased at almost 95% below its peak.

If just one of these meme coins recovers its all-time high during the next bull cycle, this would produce sizable growth.

Some Meme Coins are Building Utility for Token Holders  

It goes without saying that most meme coins have no utility. However, recent trends show that meme coins are looking to step away from this image. In fact, some of the best meme coins discussed today are building entire ecosystems and use cases for token holders.

Meme Kombat battles

Even established meme coins have recognized the importance of creating use cases for their investors.

For example, Shiba Inu was once a meme coin pure play. Its only objective was to replicate the success of Dogecoin. However, Shiba Inu has since come a long way from this image. Its decentralized ecosystem now supports ETH-based applications. It has already developed a metaverse with real estate ownership. Shiba Inu is also planning to launch a stablecoin within its ecosystem.

This means that the best meme coins to buy offer long-term value, where people can buy the tokens other than for speculative reasons.

How do You Know if a Meme Coin has Utility?

  • The best meme coins to buy have utility – meaning the tokens have an actual use case.
  • To assess the utility of a meme coin, check out its whitepaper. This highlights the objectives of the project and what its tokens can be used for.
  • You’ll quickly learn whether the tokens have any use cases. If the whitepaper is short and full of hyperbole, it’s likely relying on speculation to succeed.
  • But if you’re reading a comprehensive whitepaper with roadmap targets and a breakdown of the tokenomics, you might be onto a solid meme coin investment.

Risks of Investing in Meme Coins

We’ve discussed the benefits of investing in meme coins. Now let’s explore what risks you need to consider before proceeding.

Risk of Financial Loss  

Meme coins are very high risk. Although some meme coins have use cases – most don’t. This means that the value of meme coins are often based on hype and speculation.

You’ll often find that meme coin investments go one of two ways. If you’re fortunate, you’ll invest in a meme coin that generates sizable gains. However, a majority of meme coin investments capitulate in value. This means that you could lose some or even all of your original investment.

FLOKI Price Chart (FLOKI)

For example, consider that during the prior bull market, FLOKI was trading at $0.0003437. Suppose you invested $1,000 into FLOKI at its peak. Today, FLOKI is trading at 0.00001574. This represents a decline of 95%. As such, your original $1,000 would now be worth just $50.

Growth is Often Short-Lived  

Rarely do investors buy meme coins as a long-term investment. On the contrary, many meme coin investors want to make rapid gains in the shortest time possible. This creates even more market irrationality and speculation. The result is that meme coins can go on a solid upward trajectory, only to decline and never recover.

  • For example, we mentioned earlier that Tamadoge increased by almost 2,000% after completing its presale.
  • It achieved these gains in under a week.
  • After peaking, Tamadoge went on a prolonged decline.
  • It’s now trading 95% below its all-time high.

This means that as a meme coin investor, you’ll need to actively monitor the markets. If your investments are doing well, you should consider your exit strategy. In other words, if you take too long to cash out – you could lose all of your gains.

Lack of Liquidity   

Many meme coins struggle to attract adequate liquidity. This is especially the case with new meme coins that have a small market capitalization. If your meme coin investment has low liquidity levels, this will be problematic when it comes to cashing out.

  • For instance, suppose you purchase a meme coin at $0.10.
  • It’s now worth $0.50 – meaning you’ve multiplied your investment by 5x.
  • However, when you try to cash out, you’re finding that nobody wants to pay $0.50 for your meme coins.
  • This means that in order to sell, you need to accept a much lower price.
  • In some cases, you might not be able to find a buyer at all.

This is a result of not having enough liquidity in the market – just like penny stocks.

YouTube video

Fraud and Scams   

An even bigger threat when investing in meme coins is that many are scams. For example, in November 2021, a meme coin called Squid Game was launched. Based on the popular Netflix series, Squid Game quickly went viral – with its price increasing rapidly.

However, investors were unable to realize their profits – the developers blocked sell transactions via the smart contract. Once it became apparent Squid Game was a scam, its price collapsed to $0 in minutes. This scam is known as a ‘rug pull’ – and the sole objective is to defraud investors

Squid Game scam

Another meme coin scam to look for is pump and dumps.

  • The developers behind the project will run aggressive marketing campaigns to create hype and mass awareness.
  • The idea is to attract as many investors as possible to quickly drive up the meme coin’s price.
  • The developers will then dump their own tokens to drain all of the liquidity that has been built up.
  • This leaves legitimate investors with worthless meme coins.

Some meme coin scams are difficult to detect. You can give yourself the best chance of avoiding a scam by doing your own due diligence. You should also ensure that you never go ‘all in’ in one meme coin project. Diversification is crucial here, meaning spreading your investment capital across lots of different meme coins.

Where to Find Meme Coins Before They Explode

Once you’ve considered the risks of meme coins, you’ll need to know where to find them. In this section, we explain the best places to find meme coins before they explode.

YouTube Channels With a Strong Focus on Meme Coins

Some of the top meme coins to buy are discussed by popular YouTube analysts. That said, you’ll need to proceed with caution – as some YouTubers promote meme coins for money. This means that the information you’re receiving isn’t strictly impartial. Even so, if the YouTube influencer has a huge audience, this can still create hype.

The Joe Parys Crypto channel is very popular on YouTube for finding meme coin investments. This channel has over 382,000 subscribers and multiple videos are posted each week.

Recently, Joe Parys Crypto has discussed many meme coin projects, including Dogelon Mars, Pepe, and Dogecoin. Joe Parys Crypto also releases listicle videos on micro-cap cryptocurrencies that have the potential to explode, plus undervalued coins that are worth buying before the next bull run.

In addition, we found that Jacob Bury’s YouTube channel is useful for finding the best meme coins to buy. In fact, some of the projects discussed today have also been tipped by Jacob Bury.

Reddit Forums 

Reddit forums are also useful for finding the next meme cryptocurrency to explode in 2024. Similar to YouTube, you’ll need to take information with a grain of salt. This is because many meme coins use Reddit to promote their own projects. That said, Reddit is still valuable for locating new projects that have the potential to grow.

A good starting point is r/memecoinmoonshots – which has over 8,800 members. This Reddit forum discusses low-cap meme coins that have a huge upside.

Although not exclusively dedicated to meme coins, r/CryptoMoonShots is also worth checking out. With over 1.9 million members, this Reddit forum discusses cryptocurrencies that have the potential to be 100x. This forum is very active, so there’s always a chance of discovering the best altcoins before they become mainstream.

CoinMarketCap and DEXtools

CoinMarketCap and DEXtools are popular data aggregation platforms. They provide a lot of useful information that can help you find the best meme coins to buy.

For example, CoinMarketCap has a real-time list of meme coins. In fact, it provides information on more than 1,200 meme coins that are listed on exchanges. This includes market capitalization, trading volumes, token supply, social media links, and price performance.

meme coins on CoinMarketCap

You can rank meme coins based on your preferred metrics. For example, you can view which meme coins have made the biggest gains over the past 1 hour, 1 day, and 1 week. You can then click on a meme coin for more information and conduct your own research.

Over on DEXtools, you’ll find similar information to CoinMarketCap. However, DEXtools is for meme coins listed on decentralized exchanges – such as Uniswap, SushiSwap, and PancakeSwap. DEXtools doesn’t have a meme coin page specifically – but it does have lots of filters and sort buttons to help you find suitable investments.

Meme Coin Presales

Presales, also known as initial coin offerings (ICOs), are ideal if you’re looking to invest in new meme coins. Presales allow meme coin projects to raise funds from investors. By investing in a presale, you’ll receive newly launched meme coins before they are listed on crypto exchanges.

This means you’ll get the lowest price possible – just like investing in a stock IPO. After the presale has raised its funding target, it will list its tokens on an exchange – usually at a higher price.

Meme coin presales offer the greatest upside potential, especially if you get in early. However, they also increase the risks. You’ll be investing in a meme coin before it’s launched – so nobody quite knows whether the project will take off. Moreover, the SEC explains that ICOs bring increased risk of fraud, as they operate in unregulated markets. So ensure you consider the risks before proceeding.

How do Meme Coin Presales Work?

  • Meme coin presales allow you to invest in new projects before they are launched on exchanges.
  • Most presales collect established cryptocurrencies from investors (e.g. BNB or USDT).
  • In exchange, you’ll receive an equivalent amount in the project’s native meme coin.
  • After the presale is complete, the meme coin will be listed on exchanges – allowing the broader market to trade it.
  • You can sell your presale at any time once the exchange listing goes live.

Conclusion

Meme coins remain hugely popular in the crypto investment markets. While risky and speculative, meme coins have the potential to generate much higher gains than other crypto assets.

Overall, we like the potential of Dogeverse. It is a Doge-themed coin built on six blockchain networks that offers on-chain staking for passive rewards.

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By Kane Pepi

Kane Pepi is an established financial and cryptocurrency writer with over 2,000 articles, tutorials, and market insights under his belt. Kane has a reputation for offering concise explanations of complex financial matters due to his competence in specialized fields such as asset valuation and analysis, portfolio management, and financial crime prevention. He has a Bachelor's Degree in Finance, a Master's Degree in Financial Crime, and is now working on his Doctorate degree, which will focus on the difficulties of money laundering in the cryptocurrency and blockchain technology industries. Kane's abundance of knowledge and expertise in the sector make him an invaluable resource for anybody navigating the world of finance and cryptocurrency.