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In the crypto world, a ‘new’ category of digital assets has captured the imagination and interest of investors and enthusiasts alike: Memecoins. Once considered mere novelties or the playful side of crypto, memecoins have surged in popularity and importance, revealing their potential to impact the broader cryptocurrency market significantly.

This article delves into the rise of memecoins, exploring their definition, most popular examples, unexpected roles, and their future in the crypto ecosystem.

BONK memecoins

What are Memecoins, Anyway?

Memecoins are cryptocurrencies inspired by internet memes, jokes, or viral phenomena. Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, which often have well-defined utility or goals, memecoins primarily derive their value from community support and social media hype.

In other words, memecoins have neither utility nor roadmap.

There are several exceptions, however. Shiba Inu, for example, launched Shibarium protocol, which allow projects to be built on top of it, including DogSwap, MARSWAP, Woof Finance, Shibex, BoneDex, and ChocoInu – among several others.

One more note worth mentioning: The growth of protocols like BRC-20 (a hypothetical example to illustrate blockchain platforms facilitating token creation) has accelerated the proliferation of memecoins by simplifying the process of creating and launching new tokens on blockchain networks. This ease of token creation, combined with viral marketing, has led to an explosion of memecoins in the crypto market.

Some of The Most Popular Memecoins

There are literally thousands of memecoins in the crypto market today, with many of those disappear (failed launch, rugpull, etc.) and some of those prevail and becoming the household names in the market.

Here are five that are either blue chip or upcoming ones:

  1. Dogecoin ($DOGE): At the forefront of the memecoin movement, Dogecoin holds a majority of the memecoin market share, solidifying its position as a forerunner and cultural icon within this space. Born from an internet meme, Dogecoin has evolved into a cryptocurrency with a large following and notable media presence.
  2. Shiba Inu ($SHIB): Commanding a significant portion of the market, Shiba Inu distinguishes itself from being just another Dogecoin imitation. It introduces groundbreaking features like the Shibarium protocol, showcasing the project’s vision and technical prowess.
  3. Bonk ($BONK): Operating within the Solana ecosystem, BONK represents the diversity and niche appeal of memecoins, proving that even tokens with a smaller market share can find a dedicated community and ecosystem where they can flourish.
  4. PepeCoin ($PEPE): Inspired by the iconic Pepe the Frog meme, PepeCoin has demonstrated the volatile and often surprising nature of memecoins through its dramatic price movements. This deviation from the common Shiba Inu theme highlights the broad spectrum of inspiration for memecoins.
  5. WEN ($WEN): Emerging on the Solana blockchain, the WEN Token is a testament to the evolving nature of memecoin distributions and community involvement. WEN claims to be the first memecoin based on a fractional NFT concept, whereas each token represents an equal fraction of ownership of a poem.

Pepe Coin


The Unexpected Roles of Memecoins

Memecoins, initially dismissed by many as mere novelties, have carved out a niche that extends well beyond the boundaries of traditional investments or digital currencies. Their impact is both varied and significant, underscoring the unpredictable nature of the crypto market.

Here are some of the (unexpected) roles:

  1. Onboarding New Crypto Holders: Believe it or not, memecoins serve as an accessible entry point for individuals new to cryptocurrency, introducing them to the basics of buying, holding, and trading digital assets in a fun and engaging manner.  Most likely than not, they will learn about the ‘more serious’ cryptocurrencies, like Bitcoin, Ethereum, and Solana – and eventually becoming ‘true’ crypto investors.
  2. Community Building and Engagement: The communities that rally around memecoins are often tight-knit and highly active. These groups not only support their chosen currencies but also participate in broader discussions about the future of cryptocurrency, digital rights, and internet freedom.
  3. Innovative Use Cases: Beyond the memes, some memecoins are beginning to support real-world applications and projects. This includes fundraising for charitable causes, supporting artistic endeavors, and even funding scientific research.
  4. Market Sentiment Indicators: The popularity and price movements of memecoins can serve as a barometer for the crypto market’s speculative mood. A surge in memecoin interest often precedes more widespread market enthusiasm, making them an interesting subject of study for market analysts.
  5. Marketing and Branding Experiments: Memecoins exemplify the power of viral marketing and community engagement in the digital age. They demonstrate how ideas can be quickly disseminated and adopted across global networks, offering lessons for traditional businesses and startups alike.
  6. Decentralized Finance (DeFi) Integration: Some memecoins are integrating with DeFi platforms, providing liquidity, staking rewards, and other financial services. This integration not only enhances the utility of memecoins but also introduces DeFi concepts to a broader audience.
  7. Cultural and Political Commentary: Many memecoins are created as a form of satire or social commentary, reflecting the sentiments of their communities on various issues. This aspect makes them a unique cultural artifact of the digital age, capturing the zeitgeist in a way that few other currencies can.

By playing these unexpected roles, memecoins challenge traditional notions of value and utility in the cryptocurrency space. They represent a dynamic and ever-changing landscape where community sentiment, humor, and innovation intersect, leading to new possibilities and unexpected outcomes.

Should I Buy Into Memecoins?

The allure is undeniable, with stories of astronomical gains and community-driven projects capturing the imagination of investors worldwide. However, the volatile nature of these assets requires a careful assessment of their pros and cons, as well as a strategic approach to investment.


  1. High Reward Potential: Memecoins have demonstrated the ability to yield significant returns in a short period, driven by viral marketing and community support.
  2. Community and Culture: Investing in the coins often means joining a vibrant, engaged community with shared interests and a collective goal of driving the coin’s value and utility.
  3. Market Sentiment Influence: Memecoins are highly responsive to market sentiment, making them an interesting option for those who excel at trend analysis and social media monitoring.
  4. Accessibility: The typically low entry cost for memecoins makes them accessible to a broad range of investors, allowing for diversification without significant upfront investment.


  1. High Volatility: The same factors that can lead to rapid gains can also result in steep losses. Memecoin prices are extremely volatile, and investments can fluctuate wildly in value.
  2. Lack of Inherent Value: Unlike cryptocurrencies with defined use cases (e.g., Bitcoin as a store of value or Ethereum as a platform for decentralized applications), memecoins often lack inherent value and are primarily driven by hype.
  3. Market Manipulation Risks: The memecoin market is susceptible to manipulation through pump-and-dump schemes, where prices are artificially inflated before being sold off by early holders.
  4. Regulatory Uncertainty: The regulatory environment for memecoins is uncertain, with potential for future actions that could impact the market.

Investment Strategy

Given these considerations, here are some strategies for potential memecoin investors:

  • Do Your Own Research (DYOR): Beyond the hype, understand the community, technology (if any), and the market dynamics surrounding the memecoin.
  • Invest Responsibly: Only allocate funds you can afford to lose, keeping memecoins as a small, speculative part of a diversified portfolio.
  • Stay Informed: The crypto market evolves rapidly. Regularly update your knowledge to navigate changes in market sentiment, technology, and regulation.
  • Consider the Long-Term: While memecoins can provide quick gains, the most significant rewards often come from supporting projects with long-term potential and active development.


photo credit: Rudolfs Klintsons / Pexels

What’s The Future Hold?

The future of memecoins is as unpredictable as their origins. While some may fade into obscurity, others could evolve into more substantial projects or even become fixtures in the crypto landscape.

The key to their longevity will likely be the ability to foster strong communities and find unique use cases that extend beyond the initial hype.


Investing in memecoins can be a thrilling and potentially rewarding venture but comes with significant risks. Approach memecoin investments with caution, armed with thorough research and a clear understanding of your financial goals and risk tolerance.

Remember, the crypto market’s inherent unpredictability means that past performance is not indicative of future results, and the journey of memecoin investing is as much about the community and cultural participation as it is about financial gains.

As always, this is not financial advice. Do your own research.

About The Author


Owner of Since 2013, he's been immersed in the world of cryptocurrencies and has become an avid NFT collector since 2019. Also an NFT artist, he is a lifelong learner of mixed-media artwork creation.