For a long time, memecoin has become an indispensable "cultural beauty" of the crypto market, where it is a clever combination of creative stories, community spirit and dry numbers.
Memecoin Market Overview
Introduction
Crypto is probably the most unique and crazy financial market to date. The combination of decentralization, permissionlessness, and anonymity has created a unique financial environment.
Traditionally, it takes countless steps to register and review a project to be listed and traded, but with crypto, it takes less than a minute for any coin to be listed and traded globally.
The rise of memecoin
For a long time, memecoin has become an indispensable "cultural beauty" of the crypto market, where it is a clever combination of creative stories, community spirit and dry numbers.
After more than 15 years of development, the market has gradually taken Shard . While major coins such as Bitcoin, Ethereum, andChainlink have achieved steady growth and become a line of defense for investors, the desire to "get rich quick" has been transferred to the altcoin and memecoin groups.
Although technology altcoins have many applications and have long-term development potential, they are often controlled by institutional investors from the beginning by pouring Capital and high valuations . From the beginning of 2024 until now, technology altcoins have only brought disappointment because the price has fallen without stopping.
In the end, only the memecoin playground remains where small investors look for opportunities to break out. Unlike technology altcoins, memecoin has no product, high technology or any application, it is simply an idea, a story to lead the community.
Memecoin Becomes Where Retail Investors Look for Breakout Opportunities
The act of clicking to buy is still about profit, but it is driven by different principles than other groups of coins. The value of a “real memecoin” lies in the power of the community, the trust built on the story that the meme conveys, or in other words, the trust is built on the imagination of the buyer more than the whitepaper or the development team.
Successful memecoins are often those with strong narratives, deep cultures that are elevated to cult levels, and that have a large following. Dogecoin (Doge) and PEPE (PEPE) are prime examples.
Simplicity, entertainment, viral effects combined with price fomo have created crazy growth waves for memecoin. Since the beginning of 2024, memecoin has always been the group that dominates and leads the market. According to a recent report by Binance Research , the growth performance of the memecoin group reached 331%, while other coin groups only achieved an Medium of double digits, not to mention many groups with negative growth.
Performance of Token pools. Source: Binance Research
However, the total market Capital of memecoins only reached $69 billion during the peak in April, which is less than the market Capital of Dogecoin alone in the previous cycle. If all goes well, hopefully we can see new records for memecoins in this cycle.
I will not go into the issue of comparing memecoin, altcoin or their potential. I have another detailed article for the issue of choosing memecoin or technology, you can read it here: Choose memecoin or technology?
In the next section, we will learn about the memecoin ecosystem and prominent projects.
Memecoin ecosystem
Memecoin Market Overview, Updated to October 2024
Memecoin is built on culture and stories, so Chia categories will be very complicated because the creativity of the community is limitless. Below I will shape the memecoin ecosystem into 3 large groups. The first group is the memecoin categories based on their properties, the second group is based on the blockchain ecosystem, and the last group is the group of tools serving memecoin.
Please note that the projects listed in each group are for reference only and do not indicate potential or investment opportunities.
OG memecoin
The group of ancient memecoin projects born from previous cycles, having experienced the storms of the market from uptrend to downtrend, often have a solid community foundation with a strong belief in the common story.
Since it has been proven not to die in a downtrend, the safety will be higher than other groups that have not gone through a full cycle.
OG memecoin
Featured projects:
- Dogecoin (Doge) : Dogecoin is the first and largest memecoin on the market today. Launched on December 6, 2013 by Jackson Palmer and Billy Markus, Dogecoin was initially created as a joke, but its lack of seriousness and humor attracted attention from the community. Dogecoin then quickly became famous and achieved impressive growth with the support of many big names such as Elon Musk. Dogecoin runs on its own blockchain that operates on the proof of work model.
- Shiba Inu (SHIBA) : Shiba Inu is the second largest memecoin in the market, released on the Ethereum network in 2020 by an anonymous person named Ryoshi. Inspired by the Japanese Shiba Inu dog breed, the project aims to compete with Dogecoin. During the development of the project, 50% of the total supply was sent to Vitalik Buterin, which was worth up to 8 billion USD at the time of May 2021. However, instead of selling, the Ethereum founder sent 10% to a community charity fund and burned the rest. Since then, Shiba Inu has remained a coin that maintains a strong community and has a growing ecosystem of utilities around it.
- FLOKI (FLOKI) : FLOKI is another coin inspired by the Shiba Inu dog breed and the Viking theme. FLOKI was named after Elon Musk's dog after his tweet. FLOKI is not just an animal memecoin, it aims at cultural and historical aspects and has its own ecosystem including FLOKI Inuversity (blockchain education platform), FlokiPlace (Non-Fungible Token marketplace), Valhalla (metaverse). FLOKI was born on the Ethereum network in June 2021.
- Baby Doge Coin (BABYDOGE) : BabyDoge continues to be a memecoin inspired by the Shiba Inu dog breed, more specifically the Dogecoin coin. BabyDoge was born with the main idea of encouraging the protection and care of abandoned animals. In addition, the project's tokenomics are designed in a deflationary direction by collecting a fee on each transaction used to buyback & burn.
- ConstitutionDAO (PEOPLE) : ConstitutionDAO was originally created to raise funds to buy one of the 13 original copies of the US constitution at an auction at Sotheby's. Although unsuccessful, the project gained a strong community and promoted the concept of DAO (Decentralized Autonomous Organization). The project then gave users the option to keep PEOPLE Token or claim a refund, but surprisingly, the majority of users chose to keep the Token. Since then, PEOPLE has often been associated with the spirit of democracy or political events.
New generation memecoin
The new generation of memecoin projects, which emerged after the end of the 2021-2022 growth cycle. This group is receiving a lot of attention and has achieved strong growth milestones. However, it has not yet gone through a complete cycle, the challenge of surviving the downtrend season is still ahead, but it is also an opportunity because it can take advantage of the available heat for the current growth wave.
New generation memecoin
Featured projects:
- PEPE (PEPE) : PEPE is the coin that started the memecoin wave in the middle of the icy winter of the crypto market. Born in April 2023, PEPE was inspired by the green frog PEPE The Frog, symbolizing growth and leaps, which has long been a popular meme in the financial market. It didn't take long for PEPE to reach the billion-dollar Capital mark, especially after being listed on the Binance exchange. In addition to the many "shills", there are also many side stories between PEPE and Elon Musk, especially the number set 420 69 , which are numbers frequently mentioned by Elon Musk and are also the total supply of PEPE. This story spread so much that later almost all memecoin projects chose a total supply starting with 42069. Today, PEPE has become the most popular meme in the crypto market, the community's worship has reached the level of belief rather than just normal love, wherever there is a meme , there is PEPE.
- Dogwifhat (WIF) : Dogwifhat is the next memecoin inspired by the Shiba Inu dog breed, but the highlight is that it wears a woolen hat. WIF was born in November 2023 and quickly attracted attention due to its rapid growth. If PEPE is the coin that opened the memecoin season on Ethereum, WIF is the coin that opened the memecoin season on Solana. Since the wif event, the Solana memecoin movement has exploded stronger than ever, since then dogwifhat has always been considered the "big brother" of Solana memecoin.
- Bonk (BONK) : Bonk was launched in late 2022 in the context of the Solana ecosystem suffering heavy losses from the FTX event. Bonk emerged as an effort to bring positivity to this network. Bonk was inspired by the Shiba Inu dog and this is also the first cat and dog memecoin project on Solana.
- cat in a dogs world (MEW) : The name of the project “cat in a dogs world” tells the story it wants to convey. The blockchain world has too many dogs, so MEW was born with the mission of becoming a counterweight and fighting against dog dominance. The project launched at the end of March 2024, 10% of the total supply was allocated to some large Solana communities and early buyers of Solana Phone, the remaining 90% of the supply was burned from the circulating supply.
- Neiro (NEIRO) : Neiro is XEM the meme descendant of Dogecoin. After the dog Kabosu who inspired the legendary memecoin Dogecoin passed away, its owner Atsuko Sato adopted a new Shiba Inu dog named Neiro. This name was quickly spammed by a series of memecoins on many networks. But in the end, the coin chosen was NEIRO with the name First Neiro on Ethereum on the Ethereum network.
- Other projects: SPX6900 (SPX), HarryPotterObamaSonic10Inu (BITCOIN), Milady Meme Coin (LADYS), ORDI , SATS.
Political memecoin
A group of memecoin projects inspired by political figures or events. Some coins in this group have been around for a long time, but were only recently classified as a specific memecoin category due to the influence of the US presidential election.
Political memecoin
Featured projects:
- MAGA (TRUMP) : MAGA is a memecoin in the Ethereum ecosystem, launched in August 2023. MAGA is inspired by former President Donald Trump's slogan "Make America Great Again". It was created to provide moral support in Mr. Trump's journey back to the White House in the 2024 election.
- Doland Tremp (TREMP): TREMP is a memecoin inspired by former president Donald Trump but following the "parody" trend.
- Jeo Boden (BODEN): BODEN is a memecoin inspired by current president JOE Biden.
- Kamala Horris (KAMA): KAMA is a memecoin inspired by 2024 presidential candidate Kamala Harris.
Presale memecoin
Presale is a bold form of Capital that emerged earlier this year. The project creator simply posts a wallet address for participants to deposit their funds into, at the end of the period 50% of the Token are distributed based on the amount deposited by participants, the remaining 50% of the Token are used to add liquidation to the trading pair.
Presale memecoin
Projects raised over $122 million in SOL during this presale, but unfortunately most of the projects in this group quickly folded or fell flat.
Featured projects:
- BOOK OF MEME (BOME)
- Slerf (SLERF)
Celebrity coin
The memecoin project team was created by famous figures. During the Solana memecoin craze, with their existing popularity, many artists Token Issuance . Some of the names include American TV star Caitlyn Jenner, rappers like Iggy Azalea, Trippie Redd and Davido.
Celebrity memecoin
Featured projects:
- Mother Iggy (MOTHER)
- Daddy Tate (DADDY)
Ethereum memecoin
Since its inception and bringing smart contracts to the blockchain world, Ethereum has always been a solid foundation for any project, and memecoin is no exception. Backed by strong decentralization, abundant liquidation , and a knowledgeable community, the quality, survival rate, and ability to "go big" of projects on Ethereum are always higher than on all other chains. Most of the top memecoins are on the Ethereum network.
PEPE is the most popular memecoin in the Ethereum ecosystem
Featured projects:
- PEPE (PEPE)
- Shiba Inu (SHIB)
- FLOKI (FLOKI)
- MOG Coin (MOG)
- Neiro (NEIRO)
- Turbo (TURBO) : Turbo is a memecoin with a story created 100% by AI. Accordingly, Turbo's founder - Rhett Mankind said, he completely followed ChatGPT's instructions to create this memecoin.
- ConstitutionDAO (PEOPLE)
- Baby Doge Coin (BABYDOGE)
- MAGA (TRUMP)
- SPX6900 (SPX): The project was created during the stock meme movement in mid-2023. SPX initially meme the S&P500 index but has since evolved into more than just a stock meme . With its y2k vibe, the crypto flip stocks story the project has built a loyal community.
Other projects:
CorgiAI (CORGIAI), Non-Playable Coin (NPC), HarryPotterObamaSonic10Inu (BITCOIN), Milady Meme Coin (LADYS), Wojak (WOJAK), Grok (GROK), Department Of Government Efficiency (Doge, created after Elon Musk posted a post proposing the creation of this department with Trump), Cate (CATE, cat with E inspired by the naming of the Doge crowd), Catalorian (CATALORIAN, created after Elon Musk's post ), Atsuko Sato (SATO, the name of the owner of the dog Kabosu and Neiro), I love puppies (PUPPIES, created after a post by Elon Musk).
Bitcoin memecoin
Since the birth of the Ordinals protocol and especially the BRC-20 standard, the aging Bitcoin network has suddenly become more vibrant than ever. For those who do not know, BRC-20 is a standard based on the Ordinals protocol that helps create fungible- Token on the Bitcoin network. And from there, a series of memecoins on Bitcoin were born. The climax was when the Binance exchange announced the listing of BRC-20 Token ORDI, leading to a brilliant Ordinals season in late 2023 and early 2024. Then the founder of the Ordinals protocol continued to develop Runes Protocol , a protocol to create fungible- Token that is more optimal than BRC-20, making the memecoin group on Bitcoin increasingly become a real force.
Featured projects:
SATS (SATS)
UNCOMMON•GOODS (UNCOMMONGOODS)
SATOSHI•NAKAMOTO (SATOSHI)
DOG•GO•TO•THE• Moon (DOG)
PUPS•WORLD•PEACE (PUPS)
Other projects:
Bitcoin Wizards (WZRD), Rats (RATS), RSIC•GENESIS•RUNE (RUNECOIN), DECENTRALIZED (DEC), WANKO•MANKO•RUNES (WANKO), BILLION•DOLLAR•CAT (BDC)
Solana memecoin
Solana was definitely the network with the strongest memecoin movement during the recent growth period. Solana is probably now remembered more as a memecoin blockchain than the parallel blockchain it once was.
Dogewifhat is the most popular memecoin in the Solana ecosystem
With the advantages of high speed, cheap gas fees and the remarkable growth of the leading bird Dogwifhat (WIF), the memecoin movement on Solana was strongly promoted. Especially after the appearance of the PumpFun platform, where anyone can create a memecoin project in a snap with almost zero cost. Therefore, in May 2024 alone, more than half a million Token were spammed on the Solana network, if this number was transferred to Ethereum, the gas fee alone would probably amount to tens of millions of dollars, not to mention the network congestion and gas fee price increase. But everything has its downside, the gas fee barrier also helps Ethereum fight against spamming of trash projects.
Featured projects:
- Dogwifhat (WIF)
- Bonk (BONK)
- cat in a dog world (MEW)
- BOOK OF MEME (BOME)
- Moo Deng (MOODENG) : inspired by the hippo named Moo Deng at Khao Kheow Zoo in Thailand. With his funny appearance and expression, Moo Deng quickly took the internet by storm, and of course this memecoin also achieved dizzying growth. After that, almost any animal that appeared in this zoo's post had its own memecoin.
- Wen (WEN)
- Slerf (SLERF)
- Myro (MYRO)
- Smoking Chicken Fish (SCF)
Other projects:
Gigachad (GIGA), PONKE (PONKE), Fwog (FWOG), MUMU THE Bull (MUMU), Mother Iggy (MOTHER), RETARDIO (RETARDIO), MANEKI (MANEKI), Brainlet (BRAINLET), Nomnom (NOMNOM), Billy (BILLY).
BNB memecoin
BNBChain used to be one of the top ecosystems, but after GameFi season, this network is still struggling to find a direction for development. Apart from some legacy memecoins from the previous season, there are not many outstanding projects in the ecosystem.
Featured projects:
Baby Doge Coin (BABYDOGE)
Simon's Cat (CAT)
WHY (WHY)
Baby BNB (BABYBNB)
COCO COIN (COCO)
Base / Wrapcast memecoin
Base is the only Ethereum Layer 2 network with an active memecoin movement. This is because Base has a large source of liquidation , low gas fees, and a large and friendly Warpcast community for memecoin, many quality projects have originated from this application.
Featured projects:
Brett (BRETT)
Toshi (TOSHI)
Mister Miggles (MIGGLES)
Higher
TRON memecoin
TRON is a network that seems to be only for USDT stablecoin transactions, but with the founder's quickness, TRON has also just experienced a quite impressive memecoin season.
Initiated by the Sunpump platform and strongly backed by Justin Sun , a series of memecoins were born from here and quickly reached a Capital of hundreds of millions of USD. There were times when Sunpump's revenue surpassed Solana's Pumpfun.
Sundog is the most popular memecoin in the TRON ecosystem
Featured projects:
TRON Bull (Bull)
MUNCAT (MUNCAT)
SunWukong (SUNWUKONG)
Suncat (SUNCAT)
Ton memecoin
Ton is the ecosystem that has benefited the most from Telegram, the crypto-friendly messaging app with over 900 million users. Memecoins on Ton can be divided into two groups, one group is pure meme projects built from stories and communities, the other group is Telegram meme games, game projects on the telegram app with simple gameplay and Airdrop strategies to attract the community.
Featured projects:
- Resistance Dog (REDO): Redo is a memecoin with a story exactly like what the Telegram project is aiming for ( before ), Resistance Dog is a dog on the Ton network with a desire to fight against censorship on the Internet.
- TON FISH MEMECOIN (FISH)
Telegram meme game: Notcoin (NOT) , Dogs (DOGS) , Hamster Kombat (HMSTR)
Memecoin Tool
With a risky PvP market like memecoin, tools are indispensable for players. Just being 1 second faster than other players will give you an advantage in terms of position.
Memecoin Launchpad
The platform helps users issue memecoins in a simple way.
- Pump.fun : memecoin creation platform on Solana network.
- Moonshot: memecoin creation platform on Solana network.
- Ethervista : platform for creating memecoin on the Ethereum network.
- Deployyyyer: platform for creating memecoin on the Ethereum network.
- Sunpump. meme : memecoin creation platform on TRON network.
- Four. meme: BNBChain network memecoin creation platform.
- Movepump: memecoin generation platform on Sui network.
Telegram Bot
Bot trades memecoin automatically and quickly.
- Maestro Bot : The oldest Telegram trading bot. Maestro Bot has been around long before the Telegram Bot trend exploded with Token Issuance, but it seems Maestro is not interested in issuing its own coin. Maestro Bot works well on most EVM and non-EVM networks (Ethereum, Base, Arbitrum, Solana, TRON, Ton, …).
- UniBot : UniBot is a popular Telegram Bot due to its friendly and easy to use interface. UniBot supports multiple EVM chains and Solana.
- Banana Gun Bot : Also another popular Telegram Bot chosen by many people.
- SolTradingBot : SolTradingBot is a dedicated Telegram Bot for the Solana network.
- Mevx Telegram & Web Bot : Provides a set of tools including Telegram Bot connected to Webapp to help users easily research and quickly perform buying and selling operations right on the web interface.
Audit & Chart
Memecoin information checker and chart tracker.
- DEXTools
- Mevx
- Birdeye
Conclusion
Memecoin is an attractive market but also full of pitfalls and risks, Capital management is necessary before you want to try something with this Shard . In the next article, I will Chia about the skills you need to equip and some experiences with memecoin.
Above is the overview of the memecoin market, hope the article helps you in the research process.
Kudo
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