Top 3 Memecoins in 2024 – Best and Worst
Cryptocurrency enthusiasts are witnessing the memecoin mania of 2024, prompting the question – what are the top 3 memecoins to watch? The explosion of meme-based tokens in the market has created a frenzy, with these digital assets drawing inspiration from viral internet memes. Despite the varying levels of success, memecoins continue to showcase their notorious volatility, keeping investors hooked with their roller-coaster price movements. Here are the top 3 performing and worst performing meme coins of the year.
Top 3 Memecoins
1. Smog (SMOG)
Leading the pack of top 3 memecoins is SMOG. This token has garnered attention for its significant market growth and innovative token distribution strategies. With a total supply of 1.4 billion tokens, SMOG allocates 50% for marketing efforts to engage the community and boost project visibility. A further 35% is set aside for airdrop rewards, crucial for building a strong holder base, while the remaining tokens support liquidity on exchanges and operational expenses.
SMOG price has seen fluctuations in recent times but remains 97% above its 2024 low of $0.032. The project’s marketing strategy actively involves the community, fostering a sense of ownership and loyalty among holders.
2. Dogwifhat (WIF)
In the second spot of the top 3 memecoins is Dogwifhat. This unique crypto project lacks specific aims, goals, or use cases, standing out for its simplicity. Despite its unconventional approach, Dogwifhat has surprised many by rising over 5,377% from its 2024 low to hit a daily high near $3.7 on May 6. However, the price has stabilized since April as meme coin excitement settled down.
Dogwifhat, a dog-themed memecoin, has become the fourth largest by market cap thanks to its recent gains.
3. Bonk Memecoin (BONK)
Bonk, a memecoin on the Solana blockchain, is another standout performer in 2024. Launched in March, the token has surged over 1,520% to reach a daily high near $0.013 on May 6. Bonk is known as the “people’s dog coin,” distributing 50% of its 100 trillion supply to Solana community members to promote fairness and inclusivity.
Despite its decentralized ethos, the token’s price has remained stagnant since April, reflecting the market’s current sentiment.
Worst Performing Memecoins
1. Baby Doge Coin (BABYDOGE)
As a copy of Dogecoin, Baby Doge Coin operates on the Binance Smart Chain, aiming to offer faster transactions and lower fees than Ethereum-based tokens. With a total supply of 420 quadrillion tokens, Baby Doge Coin uses a deflationary model and supports charitable causes, particularly related to dog and pet rescue initiatives.
BABYDOGE price surged in early 2024 but has since dropped over 46% to $0.0000000019 on May 6. The token’s redistribution mechanism rewards existing holders with a portion of transaction fees, enhancing the value proposition for investors.
2. Maneki (MANEKI)
Inspired by the Japanese symbol of good luck, the Maneki Token on the Ethereum blockchain focuses on building a community-driven ecosystem around DeFi and governance. However, the token’s price has declined over 60% since its launch, raising concerns about its performance.
3. Rekt ($REKT)
Operating on the Arbitrum network, REKT aims to capitalize on technology advancements but faces challenges in the competitive crypto landscape. The token’s entertainment-driven nature and speculative trading environment pose risks for investors, with the price dropping over 55% since launch. Despite some recovery, questions remain about its stability and investment potential.
