MEME coins have become the biggest topic in the crypto space due to their oddity and explosive rise. However, they are not yet the largest token category. In fact, MEME coins rank 21st in terms of market capitalization in the crypto market.
Nevertheless, the emergence of MEME coins has been highly volatile, and 2025 could be a crucial year for their growth. Therefore, BeInCrypto has analyzed the top MEME tokens on major chains and their performance.
Solana MEME coin: POPCAT
Solana MEME coins such as Fudgy Penguin, Fartcoin, and Gigachad have gained attention in the crypto market this year. However, POPCAT stood out the most. This token has recorded a 6000% increase since the beginning of the year.
POPCAT reached a new all-time high of $2.10 in mid-November. However, since then, the MEME coin has declined by 64% and is currently trading at $0.74.
Therefore, it is somewhat difficult for it to rebound and continue its growth in the short term. Nevertheless, if the altcoin can regain the $1.00 support level, it can expect a recovery and growth.
The Solana MEME coin narrative is strengthening, which could provide the momentum for POPCAT to rise back to $2.10 and beyond. However, if investors show profit-taking, this recovery may become difficult, and POPCAT could fall further.
Regarding the future of Solana MEME coins, Lennix Lai, the CCO of OKX Global, told BeInCrypto that there is a lot to look forward to.
"The token ecosystem narrative goes deeper than just numbers. Solana is seeing over 25 new tokens every week, far outpacing other networks. Solana's extremely low costs, near-instant finality, and strong creator culture have driven the 2024 wave of large-scale MEME tokens, converting these technical advantages into unique social dynamics and community-driven momentum," Lai said.
The rapid growth of Solana MEME coins clearly shows that this chain can become the second-largest hub for joke tokens.
Ethereum MEME coin: SPX6900 (SPX)
Ethereum is the largest hub for MEME coins, hosting Dogecoin and Shiba Inu. However, the breakout token on this chain is SPX6900 (SPX), which has grown by 9362% so far this year.
This altcoin has caught the attention of MEME coin enthusiasts by following the trend. It has become one of the 15th largest MEME coins globally, with a market capitalization of $748 million.
SPX is currently trading at $0.80, but it has been trapped below the $0.91 barrier for the past two months. Despite the broader market recording gains, the short-term outlook for MEME coins has been gloomy.
Crossing the $0.91 level is crucial for SPX to regain its all-time high of $1.19, which is nearly 50% away from the current price. The critical support level for MEME coins is $0.56, which has recently held most altcoins.
Losing this support level would invalidate the bullish thesis and could lead to significant losses for investors. It may also prompt more selling by SPX holders to secure profits.
Ethereum is likely to continue dominating this space due to the precedents and biases set by older MEME coins. However, it may face stronger competition from Solana, which is significantly cheaper.
Base Chain: BRETT
Base Chain-based MEME coins have not seen the same level of growth as Ethereum and Solana-based MEME coins. However, the notable MEME coin BRETT has recorded an unprecedented 12,800% growth over the past 12 months.
Currently trading at $0.125, BRETT is well below its all-time high of $0.236 recorded this month. This MEME coin may be able to rise again if it depends on bullish signals in the market.
This altcoin is maintaining an important support level of above $0.100, and the likelihood of it falling below this is low. However, a massive sell-off by investors could push it below $0.100, which could shake investor confidence.
Due to Ethereum's dominance and Solana's superiority, it may be difficult for the Base Chain to establish dominance in this field. However, it will be interesting to see how Base MEME coins can evolve in 2025.
Other Notable MEME coins...
- Pepe (PEPE) – An Ethereum-based MEME coin that has risen 1140% so far this year.
- Fartcoin (FARTCOIN) – A Solana MEME coin that has joined the $1 billion market value club.
- Bonk (BONK) – A Solana MEME coin that still ranks among the top 5 MEME coins.
- Turbo (TURBO) – An Ethereum MEME coin that has risen 2800% so far this year.
