Cryptocurrencies have taken the financial world by storm, and among them, meme coins have carved out a unique niche. These memecoins are seen as playful digital tokens created out of jokes and mockery, but over time, due to profits realized from them inspired by community holders and viral trends, they have captured the imagination of traders, investors, and online communities in the entire crypto space. Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), Pepe (PEPE), and Bonk (BONK) were the first memes created and have experienced very significant pumps during the last bull run and also experienced dips during the bear market. But recently surging with significant pumps and more trading volume as well.
Dogecoin(DOGE)
Dogecoin emerged in December 2013 as a lighthearted parody of Bitcoin. Its iconic Shiba Inu dog logo became an internet sensation. Doge price has experienced wild swings, fueled by social media endorsements and celebrity attention. Despite its origins as a joke, DOGE boasts a substantial market capitalization. Unlike Bitcoin, DOGE has no maximum supply limit and operates on its own blockchain with a vibrant online community.
Doge is currently trading at $0.1603 with a 24-hour trading volume of approximately $1.52 billion and a market cap of around $23.11 billion, making it one of the top 10 cryptocurrencies by market cap.
Dogecoin has seen significant price fluctuations, often influenced by social media and endorsements by high-profile individuals. It remains a popular choice among investors for its strong community and brand recognition.
Shiba Inu (SHIB)
SHIB launched in August 2020, riding the coattails of Dogecoin’s success. SHIB’s price skyrocketed in 2021, attracting speculative interest. Its market cap surged, but it remains highly volatile and has quadrillions of tokens in circulation. Its primary use case is speculative trading. Shib was built to run on the Ethereum blockchain and has an active online community. It is currently trading at $0.000025 with a 24-hour trading volume of roughly $405 million and a market cap estimated at $14.47 billion.
Shiba Inu has capitalized on the meme coin trend and has expanded its ecosystem with decentralized finance (DeFi) features. It’s known for its volatility but has a dedicated following that supports its growth.
Floki (FLOKI)
The token Inspired by Elon Musk’s mention of “Floki”, FLOKI emerged during the Dogecoin frenzy. Its price has been volatile, influenced by social media trends. FLOKI’s market cap is smaller compared to DOGE and SHIB and has a limited total supply.Like other meme coins, FLOKI is primarily for speculative trading and operates on the Ethereum blockchain. Floki (FLOKI) is currently trading at a price of $0.0001636 with a 24-hour trading volume of approximately $213 million.
Floki is part of a growing trend of meme coins with utility that aims to move beyond just being a meme coin by adding real-world utility and features, which could influence its market performance positively.
Pepe (PEPE)
PEPE draws inspiration from the popular Pepe the Frog meme. Its price fluctuates, but it lacks the same attention as DOGE or SHIB and has a relatively small market cap. PEPE tokens are limited in supply and operate on various blockchains, including Ethereum and Binance Smart Chain. Pepe’s current price is $0.000007646, with a 24-hour trading volume of $1.26 billion. Its market cap is $3.14 billion and has a significant trading volume, indicating active interest.
As a meme coin, Pepe’s value can be highly speculative and subject to rapid changes based on market sentiment.
Bonk (BONK)
BONK is a lesser-known meme token. It launched with a massive airdrop in 2022 as a Christmas gift to the Solana community. 50% of the total supply was distributed to Solana users who contributed to the development and growth of the network in some way.
Bonk (BONK) is currently trading at $0.0000258, with a 24-hour trading volume of over $454 million and a market cap, and is gaining traction on the Solana blockchain.
Bonk has seen a surge in interest due to its association with the Solana ecosystem and is being watched closely by investors for its potential growth.
Conclusion
Meme coins continue to be a fascinating experiment in the crypto space. While some have gained immense popularity, others remain obscure. The above five memecoins created over the past 3 years and beyond survived through the bear season after yielding so much profit during the bull run, which occurred in 2020 and the early months of 2021, and are now picking up with a good, significant profit and price difference.
