Dive into the fascinating world of meme coins with this concise and informative guide. Learn what a meme coin is, how and where to buy them, and gain valuable investment insights on the best meme tokens to watch.
Things to know to get the most out of this guide:
- Understand what a meme coin is and why it’s important in the cryptocurrency ecosystem.
- Learn how and where to buy meme coins securely.
- Identify the best meme tokens to follow.
Things to know before commenting on this guide:
This guide is designed for readers with no prior knowledge, providing a clear understanding of meme coins.
The meme culture, originating from the Internet community, has taken a prominent place in the cryptocurrency sector. These humorous viral images significantly impact the value of certain cryptocurrencies. This is especially true now, a year in which a new milestone has been reached with the emergence of increasingly influential and innovative crypto memes, such as Pepe.
Let’s examine the characteristics of crypto memes, the compelling reasons to invest, and the current top meme coins!
What is a Memecoin?
A memecoin is a type of cryptocurrency that gains popularity primarily through Internet memes and social media, rather than traditional factors like technological innovation or utility. These easily shareable and quickly viral tokens have a considerable influence on how the public perceives cryptocurrencies. An amusing image representing a cryptocurrency can attract attention, stimulate online discussions, and potentially influence the currency’s value.
More than just entertainment, meme coins have become a full-fledged communication tool in the cryptocurrency ecosystem. Reflecting the collective mood of investors, they help simplify complex concepts and can even be the catalyst for significant market movements. In a world where information is increasingly digital and instant, understanding the role and impact of meme coins is essential for investors today.
Why Invest in a Meme Crypto?
While some consider investing in meme coins as a whimsical idea, others see it as an investment opportunity. What are the compelling reasons to invest in a speculative meme token?
- High Return Potential: Meme coins, despite being highly volatile, can offer significant returns. Take Dogecoin for example, which evolved from a joke into a cryptocurrency with a market capitalization of several billion dollars. Early investors witnessed exponential returns on their investments.
- Popularity and Internet Culture: Meme coins enjoy significant popularity, especially among younger investors. They often serve as an entry point for many newcomers to the crypto world. The surge in popularity, especially when a meme goes viral, can lead to rapid price increases.
- Active Communities: Meme coins often have passionate and engaged investor communities or “meme crypto bros”. These communities play a crucial role in supporting the cryptocurrency’s price and can contribute to its resilience during market downturns.
- Ease of Access: With the rise of crypto trading platforms, it has never been easier to buy and sell meme coins.
It is important to note that investing in meme coins comes with significant risks. Memecoins generally have weaker fundamentals than programming projects like Solana or Polkadot. The price increase of most meme coins often relies on social media hype!
Top 10 Meme Coins to Invest in 2024
We’re well aware that bringing together hundreds of meme coins to select just 10 isn’t representative of all the creative work that’s gone into them. Nevertheless, the ones we can offer you are among the great classics!
It’s important to know that the price of these meme coins is usually based on infrequent events such as Elon Musk liking a tweet from the project, or twin crypto brothers memes. Technical features are often given little consideration by crypto meme speculators.
Created in 2013, Dogecoin is undoubtedly the world’s best-known meme token, starring the Shiba Inu breed. Since its creation, Dogecoin has taken off and is now capitalized at over $10 billion. Dogecoin is backed by a strong and committed community. Humorous and easy to use, it’s a meme crypto to consider not only for its growth potential but also because it represents some fun and accessible way to enter the world of cryptocurrencies! And let’s not forget that it has gained a certain legitimacy since its adoption by several online businesses and Elon Musk’s many reactions to it!
2. Shiba Inu
Another cryptocurrency based on the Shiba Inu breed, $SHIB) was launched in August 2020 and has self-proclaimed itself “Dogecoin Killer” in an attempt to surpass Dogecoin in terms of popularity and market cap. Despite a significant decline, Shiba Inu continues to attract the attention of investors thanks to its strong price fluctuations. With ShibaSwap, a decentralized cryptocurrency exchange, Shiba Inu is seeking to set itself apart by offering a complete ecosystem around its currency. It’s among the top memecoins to buy.
3. Kishu Inu
Launched in April 2021, Kishu Inu offers a unique platform where you can participate in a dynamic ecosystem centered on meme coins. The $KISHU token, at the heart of the Kishu Inu ecosystem, is used to carry out transactions and participate in the community.
$KISHU offers investors an opportunity to get involved in this promising project at a very early stage. The aim of Kishu Inu? To create an active global community around token exchange, and reward holders for their loyalty with tokens.
Kishu Inu takes a forward-thinking approach to meme-based cryptocurrencies, focusing on creating real utility and value for its community. This project has the potential to change the way we perceive meme coins and their role in the world of decentralized finance.
Tamadoge (TAMA) merges the nostalgic concept of Tamagotchis with blockchain technology. In the “Tamaverse”, users breed, nurture, and care for their Tamadoge, in a pay-to-play model. With over 19 million USDT raised in its presale, Tamadoge is already a success. With a security audit by Solid Proof and team verification by CoinSniper, Tamadoge offers security to potential investors. A unique opportunity to participate in a crypto project that combines the charm of retro games with the potential of blockchain! $TAMA is among the best memecoins in 2024.
Launched in 2013, the same year as Dogecoin, Monacoin, or MONA, stands out for its seriousness and protocol. Inspired by ASCII art, Monacoin’s logo features a dog’s head, a nod to its playful origins. Like Bitcoin and Litecoin, Monacoin uses mining to validate transactions and even plans a halving every three years. Although not very popular, Monacoin is accepted as a means of payment in several online and physical stores in Japan.
The SpongeBob token ($SPONGE) is a funny crypto meme coin inspired by the worldwide popularity of the cartoon character “SpongeBob SquarePants”. Launched in 2023, the $SPONGE token was a runaway success from the outset, rising by over 500% in the first 24 hours and trading volume reached $15 million.
With an initial price of $0.00005844, it climbed to $0.0004615 in a single day. Given the enduring popularity of Sponge Bob and the viral potential of such a memecoin, $SPONGE could well be one of the most profitable investments in 2024.
7. Baby Doge Coin
Created in 2021, Baby Doge Coin is yet another meme coin inspired by the Shiba Inus. Founded by environmentalist Christian Campisi, BabyDoge aims to “surpass its father, the Dogecoin”. Despite its playful allure, BabyDoge is committed to concrete projects to preserve the environment and help abandoned dogs. It also plans to build a payment ecosystem, including NFTs, decentralized platforms (DEX), and a credit card. But while its ambitions are interesting, we have to admit that BabyDoge is still a long way behind Dogecoin and Shiba Inu, ranking around 200th in terms of market capitalization.
8. Vita Inu
Vita Inu, or VINU, is the governance token of the VINU ecosystem and the native token of Vite’s DAG blockchain. This blockchain is distinguished by its near-zero fees. Like Shiba Inu, VINU aims to build a powerful ecosystem with its more serious sister token VITE. Recent projects include the Vinuverse, a Decentraland metaverse, as well as VinuSwap, an Automated Market Maker (AMM) swap platform, and a collection of NFTs. The bullish potential of VINU is closely linked to the success of the Vite DAG blockchain.
Pepe The Frog, the well-known emblem of the web, has now given birth to his cryptocurrency: Pepe Coin. Originating in the Boy’s Club comics of 2005, this character has become an Internet phenomenon since 2008. This funniest crypto meme has enjoyed a meteoric rise, climbing 1500% in just one week, making it into the Top 100 cryptocurrencies just two weeks after its listing on DEXs! Despite the meme crypto crash, investing in Pepe Crypto can still be attractive if you’re prepared to navigate the ups and downs of its price and if you believe in the power of the Pepe community.
10. Dogelon Mars
Dogelon Mars was inspired by the Shiba Inus and created in homage to Elon Musk and his desire to go to Mars. This meme coin was created in 2021 on the Ethereum blockchain (token ERC-20). ELON aims to rival Dogecoin. Its founders, still anonymous in 2024, have blocked 50% of ELON tokens on the Uniswap decentralized finance (DeFi) protocol. The remaining 50% was given to Ethereum founder Vitalik Buterin, who redistributed the entire amount to various decentralized autonomous organizations (DAOs) and foundations. But, even today, we’re entitled to question the true utility of Dogelon, apart from speculation. It’s a risky investment, but one that can pay off in the short term.
Where to buy a meme coin?
The good news is that buying meme tokens is now accessible to everyone! They are increasingly available on the top platforms. Remember, it is important to only sign up on recommended platforms to make sure your funds are safe. Here’s our selection of the best platforms for buying, selling, and exchanging your meme coins:
It’s undoubtedly the world’s best-known crypto platform. Binance offers a wide variety of cryptocurrencies, including several meme coins like PEPE crypto meme. All you have to do is select your meme token and buy it with fiat currencies like euros or dollars. Binance also offers advanced trading tools for experienced traders.
Another popular cryptocurrency exchange, Coinbase offers a nice variety of meme coins for purchase, including Dogecoin and Milady meme coin crypto. Easy to use thanks to its streamlined interface, it represents a great choice for crypto beginners. Coinbase also allows you to buy cryptocurrencies with fiat currencies and offers a mobile application.
Uniswap is a decentralized exchange (DEX) based on the Ethereum blockchain, enabling direct exchange of ERC-20 tokens, including different meme coins like Wall Street Memes crypto. One of the advantages of using Uniswap? You don’t have to entrust your cryptocurrencies to a third party, for even greater privacy.
This US-based cryptocurrency exchange offers a wide selection of meme coins. We like it for its security and its many features, including margin trading and futures. Like Binance and Coinbase, Kraken also lets you buy meme tokens with fiat currencies.
How to buy a meme coin
Here are the steps to follow to buy a meme coin on one of these platforms:
Step 1: Create an Account on an Exchange
The first step in buying a meme coin is to create an account on an exchange. You should be able to find what you’re looking for among those listed above. Each of these platforms has its advantages and disadvantages, so make sure you choose the one that best suits your needs! When you create your account, you’ll need to provide certain personal details and go through an essential verification process.
Step 2: Deposit Funds Into Your Account
Once your account has been created, you still need to deposit funds to purchase your same token. Most platforms accept fiat currency deposits, but some only accept cryptocurrency deposits. You can also deposit funds into your account using a credit card, bank transfer, or even PayPal in some cases!
Step 3: Choose the Memecoin You Want to Buy
Each platform offers a list of cryptocurrencies available for purchase, so you should be able to find the meme coin you’re looking for quite easily. Be sure to research the meme token you’re considering buying to understand what makes it so special and how well it could represent a good investment.
Step 4: Buying the Memecoin
Once you’ve chosen your meme coin and deposited your funds in the account, all that’s left is to proceed with the purchase. On most platforms, all you have to do is enter the amount of the meme coin you wish to buy and click “buy”. You’ll then receive confirmation of your purchase.
Step 5: Store Your Tokens
Now that you’ve purchased your meme coin, the final step is to choose your storage method. You have several choices: you can choose to leave it on the exchange (but this may involve some risk, as the platform could be hacked), or you have the option of transferring your meme coins to your cryptocurrency wallet (a much safer option, especially with cold wallets).
Investing in cryptocurrencies, especially meme coins, is both exciting and risky. Meme tokens have gained popularity recently due to their humorous nature and social media enthusiasm, coupled with their explosive growth potential. However, investing in such volatile assets comes with risks.
Among the meme coins analyzed, Shiba Inu (SHIB) appears promising, distinguishing itself with a robust ecosystem, including ShibaSwap. Its increasing adoption by online payment platforms further enhances its credibility and utility.
Conduct your research and carefully assess risks before diving into memecoin investments. The cryptocurrency market, especially meme coins, is known for its volatility. While ROI can be high, losses can be equally significant. Invest wisely what you can afford to lose.