A meme coin is a type of cryptocurrency inspired by internet memes or cultural references. They often have playful branding and are driven by online communities.
While some meme coins start as jokes, others gain popularity and may be used for buying, selling, or as investments. So, in this article, we discuss the best 10 meme coins and their features.
Overview – Best Meme Coins
- Dogecoin (DOGE) started as a joke based on a Shiba Inu dog meme in 2013 and has since changed into a community-driven meme coin, albeit with some limitations.
- Shiba Inu (SHIB) was launched in 2020, primarily as a meme coin, with a massive supply leading to high volatility.
- Floki Inu (FLOKI), created in 2021, rides on Elon Musk’s tweets and has plans for NFTs and games.
- Dogelon Mars (ELON), also from 2021, mixes dog memes with space hype but lacks clear utility.
- Samoyedcoin (SAMO), launched in 2021, aims for fun on Solana.
- Kishu Inu (KISHU), also from 2021, aims for a broader ecosystem with NFTs, games, and swaps.
- MonaCoin (MONA), from 2014, is a Japanese meme coin, while PepeCoin (PEPE), from 2016, has faced controversy.
- GRIN, launched in 2019, focuses on privacy and has been used to create meme-based tokens.
- Wojak Finance (WOJAK), launched in 2021, plans to introduce a range of meme-related functionalities, including a DEX, NFTs, and a gaming platform.
1. Dogecoin (DOGE)
Dogecoin (DOGE) was created in 2013 as a joke based on a Shiba Inu dog meme. Initially intended as a satirical take on Bitcoin, Dogecoin has got some real-world use cases like merchant acceptance.
Despite its success, Dogecoin has a relatively limited supply and needs more technical sophistication of other cryptocurrencies. Also you can read about the best cryptocurrency to mine in 2024.
What it Does
A limited number of merchants accept DOGE as payment, and the Dogecoin Foundation works on various initiatives to promote its adoption.
Technical Specs
Dogecoin uses a proof-of-work (PoW) consensus mechanism similar to Bitcoin, but with a significantly faster block time and a much larger total supply (around 132 billion coins compared to Bitcoin’s 21 million).
Investing Considerations
Despite its success, Dogecoin has limitations. The large supply puts pressure on the price, and it lacks the advanced features of newer cryptocurrencies.
However, its strong community and occasional celebrity endorsements (think Elon Musk) can lead to significant price swings.
2. Shiba Inu (SHIB) – One of the Best Meme Coin
Shiba Inu (SHIB) was launched in 2020, capitalizing on the popularity of Shiba Inu dogs and often dubbed the “Dogecoin killer.”
Primarily a meme coin, the SHIB token is used within the ShibaSwap decentralized exchange (DEX).
SHIB has a massive supply, leading to high volatility. Its long-term value depends on community support and wider adoption of ShibaSwap.
What it Does
Primarily a meme coin, SHIB doesn’t have a defined purpose beyond being a community-driven token.
However, it serves as the utility token within ShibaSwap, a decentralized exchange (DEX) built on the Ethereum blockchain.
Users can stake SHIB tokens to earn rewards and participate in governance decisions on the ShibaSwap platform.
Technical Specs
SHIB is an ERC-20 token built on the Ethereum blockchain. This allows for faster transactions and potentially wider adoption than Dogecoin’s PoW model.
However, SHIB suffers from a massive total supply (quadrillions of tokens), leading to high volatility.
Investing Considerations
The long-term value of SHIB hinges on two factors: community support and the wider adoption of ShibaSwap.
If ShibaSwap gains traction and offers compelling features, SHIB could see increased demand. However, its massive supply remains a concern.
3. Floki Inu (FLOKI)
Floki Inu (FLOKI) was created in 2021, riding the wave of Elon Musk’s tweets about his Shiba Inu puppy named Floki.
Primarily a meme coin, although there are plans for an NFT marketplace and play-to-earn games.
FLOKI’s price is heavily influenced by Elon Musk’s pronouncements and the overall meme coin market sentiment.
What it Does
Primarily a meme coin, FLOKI doesn’t boast extensive functionality. However, the project roadmap outlines plans for an NFT marketplace and play-to-earn games built around the Flokiverse metaverse.
Technical Specs
FLOKI is a BEP-20 token built on the Binance Smart Chain (BSC). This choice allows for faster and cheaper transactions compared to Ethereum.
Investing Considerations
FLOKI’s price is heavily influenced by Elon Musk’s pronouncements and the overall meme coin market sentiment.
While the project has ambitions beyond being a pure meme coin, its success relies on delivering on its roadmap and maintaining community interest.
4. Dogelon Mars (ELON)
Dogelon Mars (ELON) was launched in 2021, combining the dog meme trend with the hype surrounding space exploration, particularly Mars colonization.
Primarily a meme coin, but aspires to be a “multi-galactic meme token.” ELON’s price heavily relies on maintaining meme coin popularity and future developments within the project’s roadmap.
What it Does
Primarily a meme coin with aspirations to be more. The project describes itself as a “multi-galactic meme token” aiming to bridge the gap between meme coins and utility tokens.
However, concrete use cases are yet to be fully developed.
Technical Specs
ELON is an ERC-20 token built on the Ethereum blockchain. While offering faster transaction speeds than Dogecoin, it suffers from the same scalability issues as the Ethereum network.
Investing Considerations
ELON’s price heavily relies on maintaining meme coin popularity and future developments within the project’s roadmap.
The team behind ELON has ambitious plans, but delivering on them is crucial for long-term success.
5. Samoyedcoin (SAMO)
Samoyedcoin (SAMO) was launched in 2021, featuring the adorable Samoyed dog breed as its mascot on the Solana blockchain.
The native token of Samoiland, a meme coin ecosystem aiming to create a fun and engaging experience for users. SAMO’s success hinges on the growth and adoption of the Samoiland platform and its applications.
What it Does
The native token of Samoiland, SAMO, serves various purposes within the meme coin ecosystem aiming to create a fun and engaging experience for users. SAMO is used for staking, allowing users to stake SAMO tokens to earn rewards.
Additionally, SAMO serves as the in-game currency for upcoming play-to-earn games on the platform.
Users can also purchase NFTs (non-fungible tokens) using SAMO on the platform’s NFT marketplace. Furthermore, SAMO holders have governance rights, enabling them to participate in voting on proposals that shape the future of Samoiland.
Technical Specs
SAMO is a SPL token built on the Solana blockchain. Solana boasts faster transaction speeds and lower fees compared to Ethereum, making SAMO transactions more efficient.
Investing Considerations
SAMO’s success hinges on the growth and adoption of the Samoiland platform and its applications.
If Samoiland can deliver engaging games, a thriving NFT marketplace, and a strong community of users, SAMO could see increased demand.
However, the overall meme coin market sentiment can also significantly impact its price.
6. Kishu Inu (KISHU) – Meme Coin
Kishu Inu (KISHU) was created in 2021, yet another dog-themed meme coin featuring the Shiba Inu.
Aims to be a decentralized meme token community building a multimedia entertainment ecosystem, including NFTs and games.
The long-term viability of KISHU depends on the execution of its ambitious project roadmap and community engagement.
What it Does
KISHU aspires to be more than just a meme coin. The project aims to build a decentralized meme token community with a multimedia entertainment ecosystem.
This includes: KishuSwap, a decentralized exchange (DEX) built on the Ethereum blockchain, allowing users to swap tokens.
Kishu INO Launchpad, a platform for launching new crypto projects; Kishu Metaverse, a planned virtual world where users can interact and play games; and Kishu NFTs, a collection of non-fungible tokens featuring unique artwork.
Technical Specs
KISHU is an ERC-20 token built on the Ethereum blockchain. This choice provides access to a large user base but comes with the drawbacks of slower transaction speeds and higher fees.
Investing Considerations
The long-term viability of KISHU depends on the execution of its ambitious project roadmap and community engagement.
If the team can deliver on its promises and build a compelling ecosystem, KISHU could carve a niche beyond the meme coin craze. However, competition in the DEX, NFT, and metaverse spaces is fierce.
7. MonaCoin (MONA)
MonaCoin (MONA) was launched in 2014, a Japanese meme coin featuring the lucky cat character, a popular meme in Japan.
Primarily a meme coin with a strong community focus in Japan. Used for online tipping and some merchant transactions.
MONA’s value is largely tied to its popularity within the Japanese market and may not have the same global appeal as other meme coins.
What it Does
Primarily a meme coin with a strong community focus in Japan.
MONA is used for online tipping and some merchant transactions within Japan. It also boasts its own blockchain with unique features like community-driven mining rewards.
Technical Specs
MONA uses a custom Proof-of-Work (PoW) consensus mechanism specifically designed for the MonaCoin blockchain. While it offers faster block times compared to Bitcoin, it’s not as widely adopted or secure.
Investing Considerations
MONA’s value is largely tied to its popularity within the Japanese market and may not have the same global appeal as other meme coins.
Additionally, the custom blockchain technology might limit its future scalability.
8. PepeCoin (PEPE)
PepeCoin (PEPE) was launched in 2016, based on the well-known Pepe the Frog meme.
Initially intended as a meme coin, PepeCoin has been associated with alt-right groups, leading to controversy and exchange delistings.
Due to its controversial associations, PepeCoin is not a mainstream meme coin investment and may have limited future potential.
What it Does
Initially intended as a meme coin, PepeCoin has been associated with the aforementioned alt-right groups, resulting in exchange delistings and hindering its mainstream adoption.
There’s no important development activity on the project currently.
Technical Specs
PepeCoin uses a litecoin-based Proof-of-Work (PoW) consensus mechanism. However, due to its controversial nature, technical details are not widely available.
Investing Considerations
Due to its controversial associations, PepeCoin is not a mainstream meme coin investment and has limited future potential.
It’s important to beware of the ethical implications surrounding this meme before considering any investment.
9. GRIN
GRIN was launched in 2019, a privacy-focused cryptocurrency not technically a meme coin itself.
This coin has been adopted by some meme coin enthusiasts to create meme-based tokens with enhanced privacy features.
Investing in GRIN involves understanding the complexities of privacy-focused cryptocurrencies and the evolving regulatory landscape.
What it Does
It is a Mimblewimble-based cryptocurrency that prioritizes user privacy.
Transactions on the GRIN blockchain are obfuscated, making it difficult to track the origin and destination of funds.
Technical Specs
GRIN uses the Mimblewimble protocol on a custom Proof-of-Work (PoW) blockchain. While offering privacy features, it comes with complexities in terms of scalability and potential regulatory hurdles.
Investing Considerations
Investing in GRIN involves understanding the complexities of privacy-focused cryptocurrencies and the evolving regulatory landscape.
GRIN itself isn’t technically a meme coin, but its association with meme-based privacy tokens adds another layer of consideration.
10. Wojak Finance (WOJAK)
Wojak Finance (WOJAK) was launched in 2021, based on the Wojak meme character, a popular black-and-white illustration used online.
Aims to create a decentralized meme ecosystem with its own NFT marketplace, play-to-earn games, and a WOJAK token.
WOJAK is a new meme coin with an ambitious roadmap. Its success relies on community engagement and the execution of its plans.
What it Does
Wojak Finance aims to create a decentralized meme ecosystem with its own functionalities: WojakSwap, a decentralized exchange (DEX) for swapping tokens; Wojak NFTs, a collection of non-fungible tokens featuring Wojak characters; and WojakPlay, a play-to-earn gaming platform.
Technical Specs
WOJAK is a BEP-20 token built on the Binance Smart Chain (BSC). This choice allows for faster and cheaper transactions compared to Ethereum.
Investing Considerations
WOJAK is a new meme coin with an ambitious roadmap. Its success relies on the team’s ability to deliver on its promises and build a strong user base for its DEX, NFT marketplace, and play-to-earn games.
The overall meme coin market sentiment will also play a role in WOJAK’s price.
Conclusion – Best Meme Coins
In summary, the world of meme coins is diverse and ever-evolving. From Dogecoin’s beginnings as a joke to newer entries like Shiba Inu and Floki Inu, each brings its unique blend of humor and community.
Some aim for broader ecosystems like Samoyedcoin and Kishu Inu, while others cater to specific cultural niches like MonaCoin and PepeCoin.
GRIN offers a privacy-focused alternative, while Wojak Finance introduces meme-related functionalities.
Overall, the best meme coins continue to push the boundaries of creativity and community in the cryptocurrency space.
FAQ
What is a meme coin❓
A meme coin is a cryptocurrency created as a joke, often based on internet memes.
Are memecoins good investments❓
Memecoins are risky investments, mostly driven by hype and speculation.
Why do people invest in meme coins❓
People invest in meme coins for fun, quick profits, and to be part of meme culture.
How are meme coins created❓
Memecoins are made by copying existing blockchain code or launching on platforms that allow easy creation of new cryptocurrencies.
Can meme coins be good long-term investments❓
Meme coins are generally not recommended for long-term investment due to their speculative nature.
How to buy meme coins❓
Buy meme coins on cryptocurrency exchanges like Binance or Coinbase.
Risks of investing in memecoins❓
High volatility, lack of regulation, susceptibility to manipulation, and potential for investing in worthless projects.
Should I invest in meme coins❓
Consider your risk tolerance and investment goals. Do thorough research or consult with a financial advisor.
Could meme coins become mainstream❓
It’s uncertain. Regulatory issues, technological advancements, and market trends could affect their future.