Top Performing Memecoins for Summer 2024
A brand-new trend in the crypto industry is going strong. Hundreds or even thousands of funny tokens inspired by iconic memes or famous personalities appear on the market on a daily basis. They are rapidly building a community due to their funny nature. The general bullish sentiment at the beginning of the year led to the rise of memecoins, and some of them grew by leaps and bounds in no time. The summer of 2024 will be no exception, and we have prepared a list of promising memecoins for you.
This list has gathered both well-known and long-established players in the market, as well as unexpected newcomers who have every chance of rapid growth. We're not making any claims, just informing you about which memecoins seem most curious to us at the moment.
Disclaimer. This article is for informational purposes only. We do not encourage you to invest in any particular coin. All decisions are left up to you. Remember the importance of DYOR.
Shiba Inu (SHIB)
Not that long ago, the Solana ecosystem became the preferred platform for memecoin launches, which not only boosted the network's popularity but also set the trend for memecoins in 2024. Indeed, fresh data from Dune shows that Solana is still leading the memecoin sector. From the hype around BONK until today, 466,000+ memecoins have been launched on Solana.
However, this sector of the cryptocurrency market was not born yesterday. The very first memecoin on the market was Dogecoin. It launched back in 2013. And although Elon Musk's pet is not on today's list, it doesn't mean that this coin is a "bad dog" and won't show great results this summer.
But we would like to mention its counterpart, Shiba Inu, which is often compared to Dogecoin as both use the theme of the Shiba Inu dog breed. The coin launched in 2020 and has gained popularity not only due to the image of the cute meme dog, but also due to the interesting features it provides to its holders. Shiba Inu has become more than just a memecoin; it has its own decentralized exchange, ShibaSwap, which allows users to trade and stake tokens directly within the ecosystem. This adds utility and earning opportunities for token holders. By the way, this utility is enhanced by its own layer 2 network, which is named Shibarium.
Shiba Inu has risen 172% year-to-date and set an all-time high near $0.000036 in March.
Dogwifhat (WIF)
A couple from South Korea, owners of the dog Achi, whose image quickly went viral on the Internet, are now rejoicing. After all, they managed to sell a picture of their dog with a hat as NFT for more than 4 million dollars. But the dogwifhat community is rejoicing for another reason: the Achi-themed memecoin they created managed to break out of the huge flow of memecoins and take a place not only in the hearts of the community, but also among the leaders of the sector.
In just one year alone, the coin has managed to gain 1,690% of its value. And it has no intention of retreating, and neither does the community, which is committed to keeping dogwifhat thriving. In March, the coin managed to reach an all-time high of $4.7.
Pepe (PEPE)
Pepe the Frog is an ancient OG meme that itself has an extensive fan base. Unsurprisingly, the memecoin took a place among the "gods" in no time after its launch. The huge cultural impact and candor with the community continues to fuel interest in the coin. Pepe's developers acknowledged the token's uselessness from the start, but instead of pushing traders away with this statement, they managed to attract a new generation of Pepe the Frog fans.
Recently, the coin managed to fall under the news coverage around the situation with Keith Gill and GameStop and reached an all-time high of $0.0000112. Pepe is now the third largest memecoin by market capitalization, next to Dogecoin (DOGE) and Shiba Inu (SHIB). The coin has grown by 530% year to date.
Bonk (BONK)
When Solana Saga smartphone users woke up early one morning to find that the Solana developers had sent them Bonk coins for nothing, they were pleasantly shocked, as the value of the coins quickly paid off their expensive phones. This is where the story takes on several narratives. Some say Bonk went up in value because of the Saga smartphone, others respond that if it wasn't for Bonk, the developers would have had to scrap the Saga. The third say just thank you, Solana. However, the result is resulting: the appearance of Bonk has shaken up the community and memecoin has become the best in the Solana ecosystem.
Bonk is now honed in on creating a decentralized network of participants, and its team has created its own decentralized exchange, BonkSwap, which adds additional utility to the token and allows users to exchange those directly within the BONK ecosystem. The coin is up 5,288% in one year. Time will tell if the much-touted memecoin will be able to repeat its success.
MAGA (TRUMP)
With the cries of a white-headed eagle and the American flag evolving on the background, supporters of U.S. presidential candidate Donald Trump are following the presidential race, while the cryptocurrency side expresses its support by trading MAGA (TRUMP). Memecoin is actively using Trump's political image and slogans, emphasizing the coin's appeal not only to his supporters, but also to those interested in political memes and cryptos.
Since the U.S. presidential election will not take place until November 2024, the coin has a good chance to perform well this summer amid the heat of the race. MAGA (TRUMP) is in 11th place by market capitalization in the memecoin sector. And despite showing extremely volatile signs, the coin has gained 50,800% in one year.
Smog (SMOG)
Smog (SMOG) was able to engage the crypto community on air pollution issues in a very common but working way. "We buy your voice with our tokens." The project distributes Smog (SMOG) for actions aimed at fighting environmental problems. In addition, the developers are constantly fueling interest in the coin by launching an airdrop system for completing daily, weekly and monthly tasks.
Despite the modest year-on-year growth, the token has a good chance to still show itself this summer. The project roadmap includes regular airdrop and burn campaigns, which could potentially increase the token's value.
Slothana (SLOTH)
The growth in the price of the sloth memecoin turned out to be not sloth-like at all. On a year-on-year basis, the coin has grown by more than 175% and that's within two weeks of the token's official launch.
Slothana (SLOTH) abides by all the characteristics of a true memecoin, which means that the coin does not promise any benefits or price hikes at this time. Still, the community continues to keep a close eye on the project. In May, the coin managed to reach its all-time high at $0.055. The current chart shows bullish indicators, so this summer the coin has every chance to repeat its success and even possibly set a new record.
WienerAI
Nearly a dog, almost artificial intelligence: it's all about a newcomer to the memecoin market, WienerAI, which is still at the presale stage. The project positions itself as the first of its kind, combining artificial intelligence and the nature of memecoins based on topics popular today. Although the project is still getting ready to list, it has managed to gather a large community that was attracted to the idea of staking and rewards.
As the story goes, WienerAI was born under unusual circumstances. Created by The Architect in the year 2132, it came into existence as a result of a random incident in a lab. Hopefully, the community will see the coin listing not in 2132, but as early as this summer.
Sealana (SEAL)
Another hot new thing, which may have good growth prospects this summer (however, it may not be, because it's just another memecoin, besides it's a seal). Sealana (SEAL) has quickly become a beloved favorite of the crypto community, as it is based on a famous character from the TV show South Park. The story the project follows is simple: a village seal is searching for his path (to get out of his mom's basement and fulfill his dream by trading cryptocurrency) through the ups and downs on Solana blockchain.
The token is on presale, and has attracted attention due to its fixed price and ease of use. The exact listing date is unknown, but the community is expecting the newcomer as early as this summer.
Conclusion
The brighter the star shines, the faster it may burn. Most of the memecoins on this list have shown and are still showing phenomenal growth, despite their nature of excessive volatility and lack of utility. Keep in mind that this state of affairs will not always be the case and has every chance of ending quite suddenly. After all, memecoins are the trend of the current bull market. So, once again, we remind you of the importance of your own research and the golden rule: "Only invest money that you are not afraid of losing".
