You’ve probably heard of Bitcoin or Ethereum, but did you know there are also cryptocurrencies created as jokes? Memecoins are digital coins inspired by memes and online trends. They started as fun projects, but some have reached astonishing valuations.
The best example is Dogecoin – a cryptocurrency based on a meme featuring a Shiba Inu dog. It was created as a joke in 2013, yet today, it has a market capitalization worth billions and is held by thousands of investors.
Why are memecoins so popular?
Memecoins operate differently than “serious” cryptocurrencies. Their popularity is not driven by technology but by community hype and celebrity endorsements. Billionaire Elon Musk, the CEO of Tesla, has repeatedly tweeted about Dogecoin, causing its price to soar. As a result, other investors started buying DOGE, hoping to profit.
By 2021, the memecoin boom had fully arrived – thousands of new projects emerged within just a few months. Some proved to be good investments, while others were merely temporary trends.
Key characteristics of memecoins
Memecoins share several common traits that distinguish them from traditional cryptocurrencies:
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Large supply – Unlike Bitcoin, which has a maximum supply of 21 million coins, memecoins often have trillions of tokens in circulation. This keeps their unit price extremely low.
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Lack of real utility – Bitcoin can be used as a means of payment, and Ethereum enables smart contracts, but most memecoins serve no practical purpose. Their value is purely speculative.
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High volatility – Memecoin prices can skyrocket by hundreds of percent in a matter of days, only to crash just as quickly. This market carries significant risk and frequently resembles gambling.
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Community-driven – With memecoins, technology takes a backseat to community engagement. Projects with active supporters have a greater chance of survival and growth.
Most Popular Memecoins (as of November 20, 2025)
1. Dogecoin (DOGE) The immortal king and father of all memecoins, whose value relies not on complex technology but on the strength of its huge, loyal community and social media sentiment. While the fate of its integration as a payment method on platform X remains a never-ending saga, DOGE is strengthening its position by actively developing bridges to decentralized finance (DeFi) on Ethereum. This adds a new, practical dimension to the old, iconic coin, allowing its powerful market capitalization to be utilized in new digital areas.
2. Shiba Inu (SHIB) It built its own kingdom on the foundation of a meme but with ambitions for its own digital metropolis. Shiba Inu created its own “highway” – the Shibarium blockchain – which has become an efficient subway system for faster and cheaper transactions within its ecosystem. Its community is almost religiously focused on the token “burning” mechanism, viewing it as a key, magical ritual to decrease supply and drive value growth. SHIB is now a platform, not just a joke.
3. Pepe (PEPE) Born from a pure meme, with no promises or complicated roadmaps. Its sole goal is to be the most recognizable and iconic meme in the crypto world. PEPE has maintained its position as a pure, speculative barometer of internet sentiment and trends on Ethereum, representing pure meme culture after the era of dog dominance. It is bought “for culture,” not for technology.
4. Dogwifhat (WIF) Simplicity that conquered the world – simply a dog in a hat. WIF is the undisputed leader and symbol of the new wave of memecoins built on the fast Solana network. Its strength lies in its absurdly simple yet incredibly viral image, combined with lightning-fast and cheap transactions on Solana. It is a symbol of technical efficiency and the power of community marketing in the crypto world.
5. Bonk (BONK) The first dog of Solana, shared with everyone. BONK was born as a gift (airdrop) to the community, instantly making it the “unofficial currency” of the Solana ecosystem. It is strongly integrated with many games and Decentralized Applications (DApps), making it a more utility-driven token, deeply embedded in the network’s daily interactions rather than being purely speculative like WIF.
6. Floki (FLOKI) A meme that wants to be more than just a joke – it is building its own virtual city (metaverse). Floki has sought to build real utility from the start, and its ecosystem, including the Valhalla metaverse game, is actively developing, generating fees and attracting users. This is a memecoin looking for “real work” and appeals to investors seeking more than just pure speculation in their memes.
7. BOOK OF MEME (BOME) An artistic experiment that became a sensation. BOME is a project attempting to capture and permanently archive the entire culture of memes on the blockchain. It functions as a decentralized, digital library of memes, and the token itself has become the symbol of this mission. The community values its role as a digital time capsule for internet culture.
8. Mog Coin (MOG) The currency of internet dominance and confidence. MOG is not associated with animals; its name comes from the internet slang “mogging.” It is a purely cultural token on Ethereum, with its value driven by a strong, specific subculture and memes related to strength, humor, and winning in life, serving as a status symbol online.
9. cat in a dogs world (MEW) The cats’ answer to the dog-dominated memecoin market. MEW was created as a direct rival and counter-culture to Dogecoin, Shiba Inu, and other “dog” coins. Its strength lies in a catchy narrative and a growing community of cat lovers looking for an alternative and capital diversification.
10. Brett (BRETT) PEPE’s best friend from the “Boy’s Club” comic. Brett is a character from the same universe as the famous frog. Its popularity relies on the strength of the original meme and its consolidation as a key “meme-celebrity” on the Base blockchain, making it the leading meme token in this rapidly growing Layer-2 ecosystem.
Is investing in memecoins worth it?
Potential benefits
- The possibility of massive profits in a short time.
- Large communities and hype can attract new investors.
- Some memecoins are developing ecosystems that increase their usefulness.
Main risks
- Highly speculative – prices can drop to zero.
- Lack of fundamental value – most have no real-world applications.
- Risk of scams – some memecoins turn out to be fraudulent schemes.
Summary
Memecoins are a unique sector of the cryptocurrency market – some started as jokes, while others have built strong communities and growing ecosystems. However, it is crucial to remember that investing in them carries significant risks. If you decide to buy a memecoin, never invest more than you can afford to lose.
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