The Top 5 Memecoins of 2024 Are Ones You Probably Weren't Paying Much Attention To

Memecoins are here to stay, even if it’s just for fun and giggles. However, at this point, it’s actually not just for fun, but also for investment. People and companies are buying memecoins, for whatever reason, and that’s causing their prices to go to the moon —a simple cause-and-consequence effect. We can’t say this is true for all memecoins available, but general figures are looking nice.

According to CoinMarketCap (CMC), the total market capitalization of memecoins has increased by over 290% in 2024. This includes more than 3,500 different memecoins, traded in different markets. Of course, among all those funny coins, some star performers reached unexpected highs in 2024. Let’s explore here who were the memecoin winners, their records, and what they have to offer.

What’s the fuss, then?

Floki (FLOKI)

The famous businessman Elon Musk has declared himself a fan of Dogecoin (DOGE), but, in 2021, he announced on Twitter (X) that his new Shiba Inu puppy would be named “Floki.” Developers quickly took action, leading to the creation of an Ethereum-based token named FLOKI soon after. It was just a meme about it in the beginning, featuring a Shiba Inu wearing a Viking hat. Floki has greatly evolved into a whole ecosystem since then, though.

Now we can also find this token on the Binance Smart Chain (BSC) and it’s available to trade on around 48 crypto exchanges. To be fair, the reason for its popularity isn’t just the fun. Floki offers a wide ecosystem that includes a Play-to-Earn (P2E) NFT Metaverse, a tokenization platform, DeFi features, NFT collections, merchandise, a crypto education platform, a trading bot, a name service, and even a prepaid debit card that supports 8 chains. They’ve also participated in several charity initiatives and, unlike any other coin in this list, it has something that resembles a real whitepaper.

The result of their efforts this year was a market cap of over $1.6 billion, an increase of over 609% in price. Which, by the way, is still in the zeroes per unit ($0.00016), mainly because the currency has a total supply of 10 trillion. Whether it has further room to grow or not remains to be seen, at least as far as price is concerned.

Dogwifhat (WIF)

Remember how the previous memecoin had some real utility? Good times! On the contrary, this one is, quoting, “literally a dog wif a hat.” Based on Solana and with a crappy website detected as malvertising by Avast, this token was launched in November 2023. For some reason, it’s available to trade on around 33 centralized crypto exchanges (CEX) against USD.

Apparently, developers only created a photograph of a Shiba Inu puppy wearing a small knitted hat as a logo. They promised a “Hat Generator” to change the type of hat on the puppy, and that’s pretty much it. No NFT marketplace, no DeFi features, no roadmap, no team, no clear goals. Just a puppy meme in all its glory (and a hat), condensed in a Solana-based token. No other chains, either.

WIF has a market cap of $1.9 billion, a price of $1.9, and a supply of 998.9 million tokens. Its value increased by 1,506% back in August, when the price was at $3 per unit. It makes you wonder why you’re not making your own joke money. This is, of course, a very risky investment, if you’re considering it as an investment.

Pepe (PEPE)

Pepe the Frog is a very well-known character created by American cartoonist Matt Furie. This green anthropomorphic frog has been a constant in crypto since at least ten years ago, starring crypto memes and its own set of exclusive trading cards on Counterparty (the Rare Pepes). However, it didn’t get its own memecoin until April 2023, when the token PEPE was born on Ethereum.

Their developers describe this memecoin like this:

“Pepe is tired of watching everyone play hot potato with the endless derivative ShibaCumGMElonKishuTurboAssFlokiMoon Inu coins. The Inu’s have had their day. It’s time for the most recognizable meme in the world to take his reign as king of the Internet.”

… And they promise to make memecoins great again. Then, they proceed to warn that this token has no relation at all with Matt Furie, and it’s completely useless. That’s another quote, actually: “The coin is completely useless and for entertainment purposes only.” At least we can say they were honest. Similar to WIF, PEPE doesn’t offer a real utility.

Despite this, the memecoin can be found to trade in nine CEXs and it’s holding a market cap of $7.6 billion. It reached a peak growth in price of over 1,690% in 2024, and it’s currently at $0.000018 per unit —again, no wonder when the supply is 420 trillion.

Popcat SOL (POPCAT)

A domestic short-haired cat named ‘Oatmeal’ was chirping at a bug in October 2020, and its owner thought it’d be funny to upload photos of it on Discord. The kitty opening and closing its mouth was soon turned into a GIF that went viral, and that’s how the Popcat meme was born. In December 2020, a game called ‘Popcat.click’ was launched as well by some college students. In this game, you just need to click on the Oatmeal image to open and close its mouth, and that’s it. There’s a global leaderboard ordered by country.

The homonymous memecoin isn’t much different from the original meme and game. Launched in December 2023, Popcat is a Solana-based token with a supply of 979.9 million units. Its website is another version of the Popcat.click game, depicting a total of over 295,7 million ‘pops’ (clicks to open the cat’s mouth), with Russia, Poland, and Belgium as leader countries of the game. And that’s it, that’s all the memecoin is offering. Just like PEPE before, the team warns that the coin has “no intrinsic value or expectation of financial return.”

Not paying any mind to that bit, at least ten centralized exchanges have listed this memecoin. To date, Popcat has a market cap of $754.3 million, a price of $0.76 per token, and a record growth of over 6,031% in 2024. The team isn’t making any plans, though.

Mog Coin (MOG)

The name comes from ‘AMOG’ (Alpha Male of the Group) and the derived verb ‘mog’, which is Internet slang to say that someone is more attractive or superior to others. Mog Coin is described as the “Internet’s first culture coin,” but it focuses on pushing its users to be the best ones at everything. Indeed, the currency’s “whitepaper” is only one page stating this: “BE A FUCKING WINNER. WIN AT EVERYTHING YOU DO.”

This memecoin was released in the summer of 2023 as an Ethereum token with a supply of 390.5 trillion units. They use the joycat emoji as a logo, and other than the fun itself, they at least offer physical merchandise available for most of Europe, Australia, New Zealand, Hong Kong, Singapore, Israel, Japan, South Korea, UAE, and North America. Besides this, their website also has an image editor (Mog Me) to include different emojis in your photos.

Their disclaimer is pretty honest and it could be used with any other memecoin as well:

“$MOG is a crypto coin with no intrinsic value or expectation of financial return. Just because some people are getting ridiculously rich buying crypto doesn’t mean you definitely will. MOG is to be used strictly for getting laid and for entertainment purposes only.”

In the meantime, MOG has a market cap of $830.9 million, a price of barely $0.000002123 per token, and it’s available in four CEXs. Against all odds, it was the best memecoin performer of 2024, gaining up to 11,699.5% in price since the beginning. Mog’s community is buying and holding. Why? Who knows. To be a fucking winner?

Why not launch your own memecoin?

As we’ve seen so far, memecoins are, at the very least, a fun way to explore the crypto world. At most, they can even be a good investment, so why not build your own memecoin? If you’re not a developer/coder and think it could be too complicated, you’re wrong. In Obyte, we have a way to do it in a few minutes, without coding or high fees.

Using the Obyte Asset Registry, anyone can create any kind of customized token, including memecoins. You just need to fill out basic details like the token’s name, supply, and description. Once that’s done, pay a small fee of less than $1 in GBYTE (Obyte’s native currency), and your memecoin is instantly created and live on-chain and in your wallet, ready for promotion and use.

Memecoins are unpredictable assets, often starting with no value but capable of gaining traction if they go viral. While their prices can be volatile, the process of making one is enjoyable and easy on Obyte. Whether for fun, creativity, or experimentation, it’s worth trying out this beginner-friendly platform to bring your ideas to life!

Featured Vector Image by Freepik