When you hear the word "meme coin," what is the first thing that comes to mind? Most likely, Shiba Inu and Dogecoin. Yet, the list of meme coins out there is enormously vast. When it comes to making your next investment, you have a huge number of choices.
Some of the meme coins never get the attention they deserve. And some of them are so much more than just, hm, meme coins, as they manage to provide real additional value.
So, yes, meme coins have gone from being seen as short-lived internet jokes to being a major force in the bitcoin market. Their quick growth has taken the sector by storm and added to a speculative frenzy that has caught the attention of both individual and institutional investors.
Several crypto trackers say that there are more than 15,000 meme coins in circulation, and that number is growing every day as more than 50 new meme coins are made across multiple blockchains. Platforms like Solana have taken the lead from Ethereum as the primary launchpads for these tokens, with Solana’s lower fees and faster transaction speeds attracting new projects.
The cool thing about meme coins is that they can go viral, which is usually caused by social media buzz and a strong community. It is important to remember, though, that meme coins are powerful for more than just their meme value. Many of these projects are beginning to use new technology and practicality in the real world.
Even though DOGE and SHIB are the most popular cryptocurrencies, there are a few meme coins that have a lot of promise but aren't getting much attention. Here are the seven meme coins that people didn't think were so popular this year.
What is a Meme Coin?
As the name implies, meme coins are digital currencies that draw inspiration from cultural allusions, online memes, or viral content. For the most part, these tokens use the influence of online communities and trends to their advantage.
The market impact of many of these creations, which were initially jokes, has been anything from insignificant. With a combined market valuation of more than $42 billion in 2024, meme coins make up a sizable portion of the cryptocurrency scene. Not only have well-known meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) contributed to this expansion, but so have a slew of other, less well-known ones.
Community involvement is a big part of what makes meme currencies so appealing. Loyal fans are the lifeblood of most meme currencies, propelling their value through viral moments, influencer endorsements, and social media campaigns.
Prices can spike in response to a single tweet from a famous person or an unexpected trend on social media sites like Twitter and Reddit, all because of the inherent speculation in the market.
Meme coins, however, are progressing beyond this superficial allure. Staking capabilities, decentralized finance (DeFi), and other cutting-edge innovation are starting to show up in many of these tokens, which is drawing them closer to the more conventional utility tokens. Meme coins have also reaped the rewards of emerging blockchain platforms like Solana, which is perfect for getting their initiatives off the ground because of its reduced costs and quicker transaction rates compared to Ethereum.
Meme coins have proven to be resilient, even in down markets, thanks to their active communities, despite their comedic roots. There are more than fifty new meme currencies launched every day, according to research, and their trading volumes can occasionally compete with those of more well-known altcoins. Meme currencies' place in the crypto ecosystem is changing as their popularity grows.
The Top 7 Most Underestimated Meme Coins of 2024
Now, what meme coins are the most undervalued on the market right now?
Pepe Unchained (PEPU)
A Layer-2 blockchain developed with the Pepe ecosystem in mind forms the basis of Pepe Unchained. This coin takes use of the widespread interest in the Pepe meme while running on a scalable Layer-2 Ethereum network, which means that users may make quick transactions with cheap fees.
Decentralization and community governance are key features of PEPU, setting it apart from other Pepe-themed coins.
People are interested in it because of its novel staking structure, which allows them to earn double payouts.
Raise more than $16.5 million in a presale shows how confident people are in the project's potential. Meme coins have a solid technological basis thanks to the development team's focus on building a specific blockchain for them, which increases their viral appeal.
With a current market cap of $11 million, PEPU offers token holders the option to vote on critical governance decisions, giving it a democratic appeal that resonates with the crypto community. The developers have also stabilized its transaction volumes by incorporating an incentive scheme for long-term holders.
Crypto All-Stars (STARS):
Meme tokens such as DOGE, SHIB, and BONK can be staked on Crypto All-Stars.
Staking rewards are high with a dynamic APY that decreases as more tokens are staked; it runs on a forthcoming feature of MemeVault. Before the site debuts, investors can participate in the presale and secure substantial yields.
The possibility for large returns and its compatibility with well-known meme coins make it attractive beyond the realm of speculative trading.
Efrog Croak
Ethereum Frogs a.k.a Efrogs is the OG NFT Community on Linea, the safe zkEVM ecosystem that supports decentralized applications. Efrogs has now become a brand that is synonymous with Linea. As of this writing, they have partnered with twenty or more multichain Dapps to offer benefits and incentives to the community.
The development of an in-house decentralized application (dapp) named "Pond.Fun" is ongoing at the pond, it will promote fun throughout the Linea ecosystem and assist speed up the process of creating more active communities.
The ecosystem's native currency, Efrog Croak, follows in the footsteps of other meme coins by placing an emphasis on gamification to attract and retain users. Tokens or NFT prizes can be won in "croaking contests" that users can enter.
DOGEN
DOGEN is a community-driven meme coin that focuses on creating a luxurious, ambitious culture around meme coins.
The token implements a multi-level referral system that rewards users for bringing others into the ecosystem. It draws inspiration from successful meme coins like BONK and DOGE but sets itself apart by offering real-world rewards, like luxury giveaways, to incentivize engagement.
DOGEN’s massive projected growth (as some analysts say), with potential 700% returns during the next altcoin season, makes it a token to watch.
Flockerz (FLOCK)
Flockerz operates on a “vote-to-earn” model, where users can stake tokens and earn rewards based on community voting mechanisms.
It builds on the growing trend of decentralized governance, allowing early stakers to earn substantial rewards.
The project is designed for long-term growth, with a strong focus on building an engaged and loyal community. Its voting system and early staking rewards give it a competitive edge, as it incentivizes user participation from the start.
Memecoin (MEME)
Memecoin comes from the creators of 9GAG, a well-known meme-sharing platform, which gives it immediate credibility and a large potential user base. Initially launched on Binance’s Launchpool, it was distributed to NFT holders of Memeland collections like “You The Real MVP.”
While it started as a fun, speculative coin, it has developed staking options through the Stakeland platform, where users can earn rewards.
Its backing by a successful digital media team and community-driven approach make it a meme coin with serious potential for further integration and utility. It’s current market cap is over $182 million.
MemeBet Token (MEMEBET):
Innovative play-to-earn (P2E) mechanics and a no-KYC Telegram-based casino come together in MemeBet, a meme coin.
Users can join the gaming and cryptocurrency communities while still being able to gamble and collect rewards without having to verify their identity. Because of its ease of use and the increasing popularity of decentralized platforms, it has the makings of a dominant meme token gaming site. The potential of MemeBet rests in its capacity to entice both players and speculators.
The author's or any referenced person's thoughts or opinions are presented here for informative reasons only; they do not constitute investing, financial, or any other type of advice. There is always a chance of losing money if you invest in or trade cryptoassets.