Top 6 Meme Coins to Rise in 2024

Meme coins may have silly names, but some people have seen significant returns on their investment. Driven by social media and buzz, several meme pieces are trending and seem to be gaining popularity and value.

Meme coins are highly speculative investments. Unlike traditional cryptocurrencies, most meme coins do not have a finite supply, which can produce scarcity and generate value. While Bitcoin and others are decentralized digital currencies that you can buy, sell, and trade directly without an intermediary, the value of meme coins depends primarily on their popularity. While some businesses have started accepting crypto to pay for goods and services, only a handful of organizations will accept meme coins as currency. So you need to know what you are getting into if you are considering investing in meme coins.

Yet there are now large investments being made in meme currencies, with several now having market capitalizations exceeding $1 billion.

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On the rise

VanEck, a $90 billion asset management firm, launched a meme coin index that saw a 280% growth rate across the 6 largest meme coins (DOGE, SHIB PEPE, WIF, FLOKI, BONK ).

A study conducted by Binancethe world’s leading cryptocurrency exchange, shows that meme coins are up 586% year-to-date in 2024. That’s more than 10 times the rate of Bitcoin over the same period. Memes are also widely discussed on social media. Mentions have increased by over 53% since January 2024, outpacing mentions of AI coins by 20%.

Here is a list of established players and rising stars who seem to be on the rise this year.

• Dogecoin (DOGE): Created in 2013, DOGE is generally considered the first meme coin to hit the market. He maintains a strong presence with a loyal community and is often cited by industry influencers.
• Shiba Inu (SHIB):Considered the “Dogecoin Killer,” the Shiba Inu ecosystem is rooted in the Ethereum network and has built a strong following with projects like ShibaSwap keeping it relevant.

• Dog Hat (WIF):This Solana-based meme coin has skyrocketed in the rankings over the past year. Dog Hat enjoys strong community support and listing on major exchanges.
• Bonk (BONK): Bonk was the first meme coin on Solana, bursting onto the scene in 2023. Bonk works a little differently with 15% of the total supply going to a decentralized autonomous organization (DAO). The DAO makes decisions, such as burning over 278 billion tokens to reduce circulation.
• Grandpa (PEPE):Running on Ethereum, PEPE was inspired by the Pepe the Frog meme. It made millionaires among the early holders.

• Keep an eye on newer cryptocurrencies like Turbo, CorgiAI, and even the MAGA (TRUMP) cryptocurrency. Keep in mind, however, that newer meme cryptocurrencies are even more volatile than established cryptocurrencies or rising stars.

The world of coins is changing rapidly. Investors should stay abreast of emerging trends and closely monitor their investments to make informed decisions.

The publisher does not represent or warrant that the information contained in this content is accurate or complete as this article was provided by an external contributor. This content is intended for informational purposes only and should not be construed as investment advice. As with any investment, there is risk and the past performance of a particular asset class is no guarantee of future performance. The views, thoughts and opinions contained in this contributor’s content are solely those of the content provider.

The Lee Enterprises newsroom and editorial staff were not involved in the creation of this content.

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