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Meme-first meme coins

It’s truly wonderful how the world of crypto transforms with time. Who would have thought a few years ago that Pepe the Frog or a cute BONK would become enticing investment options? Well, here is the current reality where meme coins are shaping the future of crypto, with more and more tokens emerging every day. Based on this trend, Li Jin, the co-founder and General Partner at venture capital firm Variant Fund, noticed differences in meme coins and identified five separate categories. These categories are based on various characteristics of tokens, with meme-first meme coins being the classic ones. They leverage the power of popular internet memes, personalities, or ideas to build strong communities and garner significant attention. Due to strong community support, internet campaigns, and celebrity endorsements, meme-first meme coins are likely to establish themselves firmly in the space. Ready to learn more about these truly unique assets? In this article, we unveil the top 5 meme-first meme coins you can’t miss! Scroll down and check them out! 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.

Best Meme-first Meme Coins: 5 Picks for 2024

Dogecoin ($DOGE)

Known as the original meme coin, Dogecoin ($DOGE) was created in 2013 by software engineers Billy Markus and Jackson Palmer. Their intention was actually to create a satire on the seriousness surrounding cryptocurrencies at the time, particularly Bitcoin. However,  Dogecoin has quickly transcended its origins and became one of the biggest cryptocurrencies. One of the interesting things about Dogecoin as it wasn't built from scratch. It is a combination of some elements of Litecoin and Luckycoin. From this earlier design, the meme coin borrowed a script-based algorithm and used the same proof-of-work technology as Bitcoin to validate transactions on its network. In turn, miners are rewarded with newly minted $DOGE for securing the network. Dogecoin is inspired by the popular internet meme "Doge," which features a Japanese Shiba Inu dog named Kabosu (now deceased). It has risen to ranks to become not only the largest meme coin but one of the leading cryptocurrencies in the sector. At its best, the market cap of Dogecoin peaked at $90 billion in May 2021. This surge was mainly propelled by endorsements from Elon Musk and Mark Cuban. At the time of writing this line, Dogecoin is being traded at $0.146927 with its market cap standing at $21.29 billion. Over the years, Dogecoin has earned itself a very strong and passionate community. It has 3.9M followers on X, 2.5M members on Reddit, 31.7K members on Discord, and 823.80K token holders. Dogecoin's early and continued success has sparked a wave of hundreds of canine-themed meme coins.

Shiba Inu ($SHIB)

Shiba Inu ($SHIB) is an Ethereum-based meme coin created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi." Often referred to as the "Dogecoin killer," Shiba Inu was specifically launched to rival Dogecoin’s popularity. Since its inception, the community-driven meme coin has experienced significant growth, with its market cap currently standing at $13.6 billion. This makes $SHIB a prominent player in the meme coin space. Upon launch, Ryoshi sent half of the total $SHIB supply to Vitalik Buterin, co-founder of Ethereum. Buterin later decided to burn 90% of the gifted tokens, which is 410 trillion $SHIB, significantly reducing the circulating supply of the coin. This burn schedule aims to increase the value of the remaining tokens by reducing the overall supply. This burn schedule is to help reduce $SHIB's supply in circulation and increase the value of the remaining token. Shiba Inu boasts a solid social media presence and a passionate fan base called SHIB Army. The meme coin has 3.5M followers on X, 126K subscribers on Telegram, 515K members on Reddit, 146.4K members on Discord, and 1.39M holders.

Pepe ($PEPE)

Pepe ($PEPE) is an Ethereum-based meme coin inspired by the popular internet meme called 'Pepe the Frog.' Launched in April 2023, Pepe has displayed impressive numbers since then, which has, in turn, earned it a solid community. For instance, Pepe has grown by an eye-catching 7,000% since its launch. Two weeks after going live, the meme coin quickly secured a position in the top 100 cryptocurrencies by market cap. Recently, data from IntoTheBlock revealed that Pepe is the most profitable meme coin, with 95% recording a new peak of $0.00001717. Currently, it has a market cap of $5.32B and a maximum supply of 413.77T. Due to its impressive performances, Pepe has garnered a loyal fan base with 699K followers on X and 24.1K subscribers on Telegram.

Bonk ($BONK)

Launched in December 2022, Bonk ($BONK) is one of Solana's top dog-themed meme coins. At the time of writing this line, Bonk is the sixth largest among all meme coins. Bonk came with a mission to revive and bring back liquidity to Solana-based decentralized exchanges. The token experienced significant upswings of over 100% shortly after launch. This surge helped propel its market cap to around $2B.Despite facing corrections after hitting that milestone, the token is again recovering, with its market cap around $1.87B as of press time. Bonk has a total supply of 93.04T and a circulating supply of 67.70T. This meme-first meme coin has 326K followers on X and 22.59K Telegram members.

Dogwifhat ($WIF)

Dogwifhat ($WIF) is the leading meme coin on Solana, with a current market cap of $2.7B. It is the fourth largest in the entire meme coin market. In March of this year, the token rallied by more than 1,600%, which helped propel its market cap to around $4 billion. Launched in November 2023, the meme coin is based on a trendy internet meme of a Shiba Inu dog sporting a stylish pink hat. $WIF has a total of 90.81M coins – all in circulation. Due to its impressive performances, the token has attracted a loyal community of 89.3K followers on X and 25.43K members on Telegram.

Conclusion

Meme-first meme coins are an exciting phenomenon, a non-banal investment option, and just a touch of fun in the serious crypto world. They have all chances to experience explosive growth due to their strong communities, viral campaigns, and celebrity endorsements. However, their meme-based nature also makes them inherently volatile. While their prices can soar based on hype, they can also plummet just as quickly. Therefore, doing your own research before investing in any meme coin is crucial.