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 October 17, 2025)
1. Dogecoin (DOGE) The immortal king and father of all memecoins. Its value is not based on complex technology but on the strength of its huge, loyal community and social media sentiment. Its fate is inextricably linked to rumors about its future, especially the never-ending saga of whether it will be integrated as a payment method on the X platform.
2. Shiba Inu (SHIB) It built its own kingdom on the foundation of a meme. Shiba Inu doesn’t want to be just a joke—it created its own “highway” (the Shibarium blockchain) to make transactions faster and cheaper. Its community is almost religiously focused on the token “burning” mechanism, believing that reducing the supply will lead to an increase in value.
3. Pepe (PEPE) Born from a pure meme, with no promises or plans. Pepe has no complex technology or roadmap. Its sole purpose is to be the most recognizable and iconic meme in the cryptocurrency world. Its value is a pure speculative barometer of sentiment and internet trends—you buy it “for the culture.”
4. Dogwifhat (WIF) Simplicity that conquered the world—literally just a dog with a hat. WIF is the undisputed leader of the new wave of memecoins built on the fast Solana network. It has no grand plans or complicated mechanics. Its strength lies in its absurdly simple yet extremely viral image and a powerful, tight-knit community that has made it a cultural symbol on Solana.
5. Bonk (BONK) Solana’s first dog, which shared with everyone. BONK was born as a gift to the Solana community, airdropped into the wallets of thousands of users to boost morale. This has made it the “unofficial currency” of the Solana ecosystem, integrated into many games and applications. It is less speculative than WIF and more rooted in the daily use of the network.
6. Floki (FLOKI) A meme that wants to be more than just a joke. From the beginning, Floki has tried to build real utility around its image. Its ecosystem includes a metaverse game (Valhalla), a DeFi platform, and educational initiatives. Its goal is to attract investors who are looking for more than just pure speculation in memecoins.
7. BOOK OF MEME (BOME) An art experiment that became a sensation. BOME is a project that attempts to capture and permanently archive the entire meme culture on the blockchain. It functions like a decentralized, digital library of memes, and the token itself has become a symbol of this mission. Its meteoric rise showed how much value the market places on preserving internet culture.
8. Mog Coin (MOG) The currency of internet dominance and confidence. MOG is not related to animals; its name comes from the internet slang term “mogging,” which means to outshine someone with your looks or aura. It is a purely cultural token whose value is driven by memes related to strength, humor, and winning at life.
9. cat in a dogs world (MEW) The cats’ answer to the dog-dominated memecoin market. MEW was created as a direct rival to Dogecoin, Shiba Inu, and other “dog coins.” Its goal is simple subversion and to capture a share of the capital flowing into memecoins. Its strength is its catchy narrative and a growing community of cat lovers.
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, depicted as a laid-back dancer and gamer. His popularity is based on the strength of the original meme and his close connection to PEPE’s culture. He is seen as one of the key “meme celebrities” on the Base blockchain.
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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