Meme coins, which were initially designed as a form of mockery that poked fun at Bitcoin and other prominent cryptocurrencies, continue to drive attention and liquidity up to this day. Few believed that Dogecoin, the first and foremost meme coin, would turn out to be anything but odds and ends – yet, at press time, it boasts a huge market cap of around $26.62BN. Trailing behind is Shiba Inu (SHIB) with an unlocked market cap of $5.73BN, making it worthwhile to look at the Shib news today when considering an investment. Rounding out the list of top meme cryptos by market capitalization are Pepe (PEPE), Pudgy Penguins (PENGU), and Bonk (BONK); and many more meme coins to follow. But since this asset class has carved out a niche and achieved a market cap of a bit over $63BN in the year’s last quarter, it goes without saying why exploring them is the thing to do. That is, if you consider investing in digital currency at some point in your life, be it meme coins, altcoins, stablecoins, or Bitcoin.
Ready to learn why there’s so much noise around the hottest meme coins of the moment?
Dogecoin (DOGE)
Dogecoin, trading under DOGE ticker, is the meme coin that started all this craze, emerging in the winter of 2013 and starting to gain traction on platforms Reddit and 4chain. It began as a joke, but managed to evolve into a liquid and widespread crypto asset, with steady retail interest and several waves of market-cycle boosts and celebrity endorsement. It is now the biggest meme coin by value, seeing daily trading volumes between $500MN and $760MN – as Pepe coin does.
One of the main drivers of Doge’s popularity is the public support received from Elon Musk and the continuous discussion around it. DOGE’s price gained over 15% within a single day, after X CEO announced the integration of DOGE among the payment solutions accepted for some products in 2022. In 2019, however, he first mentioned the doggo-based crypto, saying that DOGE might be his favorite cryptocurrency – so not just his fav meme coin. Lately, he shifted the spotlight from the long-endorsed crypto asset to the market’s leader by market capitalization, Bitcoin. But support for Dogecoin continues to exist. In June of this year, the heavyweight mentioned Dogecoin in an apology-type statement, which sent the crypto’s price from 19 cents to 20 cents and beyond.
Dogecoin will remain the biggest contender for the foreseeable future, making it a worthy choice if you want to invest in meme coins with a long-term vision in mind.
Shiba Inu (SHIB)
Labeled as “Dogecoin’s killer”, Shiba Inu has evolved from a community project into the second-largest meme coin by market capitalization, securing this spot with a total amount of exchanged cryptos standing at $6.29BN, closely trailed by PEPE at $3.2BN. By this year’s third quarter, SHIB and DOGE both support cross-chain interoperability and bridging, enabling transfers across several huge blockchain networks (including Ethereum, Arbitrum, BNB, Polygon, and Base).
As of current market summaries, SHIB’s market cap revolves around $6BN, remaining one of the largest cryptocurrencies by value and exchange listings. The project is known for the multiple developments that assisted its expansion, spanning non-fungible tokens (NFTs), layer-2 ambitions, burn mechanisms, and occasional token burns. Notably, community trackers regularly note spikes in burn activity and burn-rate headlines that temporarily stiffen circulating supply narratives.
SHIB’s marketing is on point, but the true drivers of the asset’s popularity are actually the huge interest expressed by its loyal community (nicknamed “Shib Army”) and macro crypto conditions. It can outperform in unstable markets and underperform when the general investor tendency is to move money from risky assets to lower-risk ones. If you want to invest in SHIB, don’t forget that its price remains largely subject to speculative trading trends and the broader market sentiment, and determine how much you can afford to invest with this consideration in mind.
Pepecoin (PEPE)
Pepecoin was at the heart of the memecoin mania of last year, riding the wave to become one of the most talked-about speculative tokens ever since, built mainly on community hype. After a run that catapulted it to a new ATH in late 2024, the coin has ever since retraced and demonstrated a volatile performance: it’s down approximately 30%-35% since last year and keeps displaying large intraday and monthly swings. Such abrupt changes are only common within the meme coin space.
PEPE thrives on meme energy, raised by its loyal community and a value impacted by high trading volumes and viral trends. Moreover, both whales and bullish investors have accumulated significant amounts of PEPE, fueling optimism and strengthening confidence that further consolidates its value. From its release to the peak registered in 2024, PEPE recorded returns higher than 100x.
PEPE remains one of the biggest forces driving meme coin popularity, so it’s a must-watch if you want to engage with this asset class.
Bonk (BONK)
Bonk is a Solana-based dog-themed meme token that was launched on 2022’s Christmas Day, and ever since, it has exploded into prominence during SOL’s retail rallies; it has carved a niche as a community-first token with airdrops and on-chain tooling designed for Solana users. As of the middle of this year, BONK’s holders are estimated at around 950K. There are open discussions regarding a potential token burn strategy – for instance, a pre-established burn of 1TN tokens the next time BONK records a new milestone. Protocol buybacks are also on the agenda, attempts at creating deflationary pressure and gaining price support.
Bonk’s price has historically been in sync with SOL’s liquidity and sentiment on Solana, so if you want to invest in it, it pays to closely monitor Solana, too. While associated, these meme coins differ intrinsically a lot.
Floki (FLOK), Pudgy Penguins (PENGU), SPX6900 (SPX), and Dogwifhat (WIF) are other meme coins worth watching. Keep an eye on these coins’ performances, alongside other forces impacting meme coin behavior, including regulatory changes and tech advancements.