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 12 August 2025)
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Dogecoin (DOGE) – Maintains its leadership position with a market capitalization hovering around $30 billion. The integration with the X Money payment system is still in an advanced testing phase with select users. The US Securities and Exchange Commission (SEC) decision on the approval of a DOGE ETF is still pending, causing significant volatility and speculation in the market.
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Shiba Inu (SHIB) – Stable in second place among memecoins with a capitalization of approx. $8.5 billion. The Shibarium network maintains high activity, processing an average of 2-3 million transactions daily. The token burn mechanisms operate regularly, and in the last quarter, over 38 billion SHIB were removed from circulation, supporting the project’s deflationary narrative.
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Pepe (PEPE) – Capitalization is holding at approx. $5.5 billion. Although the peak popularity from May has passed, PEPE still remains in the TOP 5 in terms of daily trading volume on key decentralized exchanges (DEX), which indicates a large and active community of traders.
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Brett (BRETT) – One of the fastest-growing memecoins on the Base blockchain. It has gained immense popularity (market cap of approx. $2 billion) thanks to a strong, viral community and the simple yet catchy image of the “Boy’s Club” comic book character.
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Bonk (BONK) – Market capitalization is approx. $1.4 billion. The weekly buyback and burn mechanism, funded by fees from the DeFi ecosystem, is operating as planned. BONK is gaining utility through integrations with new games and NFT platforms on Solana.
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dogwifhat (WIF) – Market value is approx. $1.1 billion. The token is still one of the most popular memecoins on Solana, although its dominance is being tested by new, viral projects. Daily volume has stabilized in the $80-120 million range.
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Floki Inu (FLOKI) – Market capitalization is at the $1 billion level. The “Valhalla” metaverse platform has entered its open beta phase, which has increased community engagement. The team continues its intensive marketing efforts, including sponsoring sports teams.
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Maga (TRUMP) – A token gaining popularity in the “PoliFi” trend, its capitalization is approx. $500 million. Its value is strongly correlated with events in the US presidential campaign, making it a very high-volatility asset.
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Popcat (POPCAT) – Capitalization is holding in the $350-450 million range. Following a surge of interest in June, July and August have seen stabilization. The token remains popular within the Solana community, regularly appearing on trending token lists.
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Turbo (TURBO) – An AI-driven project that gained traction on the wave of interest in the combination of artificial intelligence and crypto, reaching a capitalization of approx. $350 million. Its unique origin story (publicly created with the help of GPT-4) continues to attract new investors.
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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