As their name implies, meme coins are a category of cryptocurrency inspired by memes or which possess a comedic trait. Many of them, such as dogecoin, started life as internet in-joke, after all. But here’s the funny thing: This coin has long outlasted the original “doge” craze (a sort of lolcat for the 2010s, featuring pictures of cute doggies with silly captions).
Despite Bitcoin’sBitcoin +4.5% dizzying rise to new heights has hogged the headlines in 2024, meme coins have delivered the most outstanding performance, with the return on investment for the top tokens ranging above 1,300 percent this year. Sure, some of this is pure speculation, driven by celebrity backers (Elon Musk is famously a big believer in, and promoter of Doge). But remember, they said that about bitcoin, too. The truth is that meme coins’ value is driven by their real-world utility, not cuteness. That said, not all meme coins are created equal, and some of them truly do deserve to be treated as a joke.
Whatever you make of the “meme coin frenzy, you can’t afford to ignore it. Let’s dive in and look at some of the coins most likely to prove the mockers wrong.
All hail Shiba Inu, cutest of all the doges! And when it meme coins, it isn’t just a pretty face—or a joke. Shiba Inu is a great example of how meme coins are developing real utility, and are even setting the technological pace for other digital currencies.