Since its inception in 2017, layer-1 blockchain Cardano has garnered the attention of crypto investors and blockchain-based projects worldwide. Known as a scalable and sustainable chain, Cardano is a good option for building various custom tokens. Its innovative features and reliability also appealed greatly to meme coins’ creators who continue to create their amusing digital assets on this chain day by day. Neither the speculative nature nor the lack of utility discourages investors from adding meme coins to their portfolios. With those who prefer high-risk, high-reward opportunities in mind, we have created an article, highlighting five prominent Cardano-based meme coins with a high potential in 2024. Important Disclaimer: While the below-listed meme coins are selected based on trading activity and popularity, their listing does not constitute investment advice. Carefully evaluate your risk appetite and do your own research on the listed coins before making any investment decisions.

5 Best Meme Coins on Cardano to Watch in 2024

• $SNEK
• $BANK
• $HOSKY
• $FREN
• $COB

Snek ($SNEK)

Snek is a deflationary meme coin launched in May 2023 by the Cardano community member Goofy Crisp. Unlike other meme coins based on dogs and cats, Snek embraces a snake-themed narrative. Some speculate that it draws inspiration from Cardano's Hydra scaling solution. $SNEK has transcended from its narrative as a meme token to integrate with several exchanges, DeFi projects, games, and more. As of the time of writing, these initiatives have propelled $SNEK’s market cap to over $84 million, solidifying its position as one of the most traded Cardano meme coins. Fueling investor interest, $SNEK's trading price has skyrocketed over 742% to $0.00116 as of April 23, solidifying its position as a noteworthy meme coin. These achievements have earned Snek a large following and much support on social media platforms. The meme token has 40K+ followers on X (formerly Twitter) and 4K+ members on Telegram. It also has a presence on Discord and TikTok.

BankerCoin Ada ($BANK)

BankerCoin Ada ($BANK) is a meme coin launched by a team of NFT enthusiasts and whale investors building on Cardano. The creators leverage their presence on the Cardano NFT marketplace to bolster $BANK’s visibility and adoption. While promoting enthusiasm around meme coins, $BANK’s founder team echoed its dedication to long-term sustainability. Immediately after the meme token’s debut in May 2023, a token pre-sale and public launch occurred. Two months later, loyal $BANK holders were airdropped additional tokens as a way of appreciation. The team behind $BANK is deeply interested in creating opportunities for community engagement, spurring innovation, and driving sustained growth. Their commitment to transparency, ongoing development, and community rewards sets them apart within the crypto space. Regarding its market performance, $BANK’s price has grown 68x since its launch. At the time of publication, the token traded at $0.00000052, with a fully diluted market cap of $1.3 million.

Hosky ($HOSKY)

Hosky is a dog-themed meme coin launched in 2021. $HOSKY derives its name from the Cardano founder Charles Hoskinson. According to the project’s official website, Hosky describes itself as a low-quality meme token with no financial value and no significant gains. Despite its claims, $HOSKY has cultivated a passionate community, attracting over 74,000 followers on X and boasting a vibrant Discord channel exceeding 12,500 members as of April 23. Hosky brand has also been featured on several real-world items and at major events. $HOSKY has a fully diluted market cap of over $18.6 million at the time of writing. Its price has also soared by over 134% to $0.0000000186.

Fren ($FREN)

$FREN is a frog-themed meme coin for an NFT project called ADA Peepos. The project’s brand is coined from the popular internet meme – Pepe the Frog. However, neither ADA Peepos nor $FREN is connected to Pepe’s creator, Matt Furie. Despite a lack of intrinsic value, $FREN has attracted a loyal user base through other alternative means. The project’s team welcomes users to farm and stake their $FREN tokens for additional rewards. This approach and the Pepe meme association have driven investor interest and project growth. Currently, $FREN has a Discord community of over 3,000 members. On-chain data from CoinGecko also shows that $FREN has a fully diluted market cap of over $4.7 million. The Cardano meme coin’s price has also seen a moderate increase. On April 23 alone, the token soared by over 18%.

Cobra King ($COB)

$COB is a meme coin used within the CobraKing DAO, a decentralized organization that educates meme lovers on how to trade meme tokens on Cardano. After emerging as one of Cardano’s biggest DAOs, CobraKing DAO deployed its launchpad to support new projects building on the Cardano chain. $COB is definitely ‘not your ordinary meme coin’ based on its above-mentioned features. They have played a significant role in attracting investors to the project and fostering a large community around it. Over 4K+ followers on X and 5K+ members on Telegram have become a part of $COB’s meme-driven ecosystem. $COB also has a market cap above $256K at the time of writing. This metric positions the meme coin among the leading Cardano meme coin projects. Conclusion Each of these five meme coins on Cardano demonstrates a solid foundation for growth and longevity. Still, each investor should stay vigilant and perform due diligence before pouring their funds into any crypto asset.