The meme coin market continues to command center stage as countless of the sector’s tokens explode.
The total meme coin market cap is up by 0.77% today, but many projects are up 10-100%, illustrating spectacular gains are at play.
Tremendous opportunities await those who can identify such projects early. But with so many tokens launching each day, this can be challenging.
With that in mind, we have compiled a list of the seven best meme coins to buy now. We consider trends, price action, expert opinions, tokenomics, and utility.
Based on our analysis, the best projects to buy now are Dogecoin20, Sponge, Smog, Dogwifhat, Pepe, Book of Meme, and mechel seyler. Let’s take a closer look at each.
Dogecoin20
Step inside a new paradigm of meme coin antics with Dogecoin20, a retrofitted version of the OG meme coin, Dogecoin. It is equipped with the necessary tools to thrive in the current market climate.
Born in 2013, Dogecoin was never designed to be a long-term financial asset. Its developers, Billy Markus, and Jackson Palmer, created it as a joke.
While the token inadvertently became an iconic symbol of resistance against the traditional financial system, there are undoubtedly dents in its armor. This is where Dogecoin20 comes in.
Encapsulating the same memetic allure and championing Dogecoin’s slogan of “Do Only Good Everyday,” Dogecoin20 ventures into a new realm of financial innovation.
With a flagship Stake-to-Earn mechanism, the token invites users to earn passive rewards by locking their investment in the project’s smart contract.
Currently, they can garner a 993% APY, but this will decrease as more tokens are staked.
Another advantage is Dogecoin20’s capped supply of 140 billion tokens. In comparison, Dogecoin has an unlimited supply, making it inflationary and susceptible to price dilution.
These factors have triggered immense excitement, with Dogecoin20’s presale raising over $600K in its opening day.
Currently, investors can get in at its lowest-ever price of $0.000146, but this will rise throughout the campaign, so they must be fast.
Sponge
Born in the depths of the 2023 bear market, Sponge rose as a beacon of resilience against the grueling market climate, soaring to a $100 million market cap and netting early investors a 100x ROI within its opening days of launch.
The token’s success was propelled by steadfast community support, with 13K holders, 30K social media followers, and over ten prominent exchanges getting on board.
But as the crypto market shifted bullish, Sponge’s team returned with a groundbreaking innovation: Sponge V2.
The new rendition would boast novel utility in a P2E game and staking mechanics, with staking currently offering a 432% APY.
These new use cases bolster Sponge’s token demand, negating the typical meme coin volatility and opening the door to enjoy steady upward price action.
Sponge V2 also migrated from Ethereum to Polygon, ensuring lower fees and faster trade execution times. Another advantage of the switch to Polygon is that despite the network’s $1.1 billion TVL, its meme coin market has yet to take flight.
This provides Sponge a first-mover advantage and makes it Polygon’s premier meme coin, meaning its price could explode when attention rotates to the chain.
Nevertheless, it is already enjoying massive bullish momentum, up 11% today and 208% this month, with a $136 million market cap.
Smog
Enter the dragon’s lair with Smog, the market’s leading multi-chain meme coin. Available on Solana and Ethereum, Smog boasts access to the industry’s two most prominent on-chain meme coin markets, providing incalculable liquidity potential.
As a dragon-themed meme coin, Smog’s website says it will “incinerate all his foes,” and while “the dragon fire burns, the Greatest Airdrop in History gathers pace.”
The airdrop in question is an epic giveaway comprising 35% of Smog’s total supply. It has stoked ubiquitous market excitement, given Smog’s price has risen astronomically recently.
Currently, Smog is trading at $0.2002, up 164% this month, with a $155 million market cap.
There are countless ways for market participants to enter the giveaway, the first being simply buying and holding $SMOG. Other tasks are outlined on the project’s Zealy page and will help spread Smog’s word and grow its community.
Since launching, Smog has enjoyed tremendous community support, with analyst Matthew Perry telling his 210K YouTube subscribers that this “Might be the king of Solana meme coins.”
Meanwhile, Franklin Emmanuel speculated it could be the “biggest meme coin of all time” and said it has 100x potential.
Currently, Smog is offering a 10% discount to buyers who purchase through the project’s website. However, this offer will end soon.
Dogwifhat
Having recently surpassed Bonk to become Solana’s leading meme coin, Dogwifhat is a force to be reckoned with.
Despite only launching in December 2023, it has already garnered a staggering $2.5 billion market cap and a listing on Binance.
Its price is up 583% in the last month and 21% this week, but down 11% today as the broader market struggles.
Based on its recent trajectory, this pullback could present a timely buying opportunity ahead of its next leg up.
Besides being Solana’s blue-chip meme coin, two factors sway in Dogwifhat’s favor. First, Bonk secured a Coinbase listing, illustrating that the exchange is open to Solana meme coins.
This indicates a potential listing for WIF may be on the horizon.
Another factor contributing to its potential is that the community recently raised $650K to feature the Dogwifhat image on the Las Vegas Sphere.
Indeed, the move received its share of criticism, but it has also garnered mainstream interest, with Bloomberg recently publishing an article on the matter.
With the bull market underway, this extra publicity could spell mass adoption for Dogwifhat, particularly considering meme coins are deemed the new Web3 gateway for retail investors.
Pepe
Similarly to Dogwifhat, Pepe is currently within its first-ever bull market. Given the meme coin market’s zest for “shiny new” projects, this provides significant price appreciation potential.
Analysts have even speculated Pepe is undergoing an “expedited version” of Dogecoin’s previous bull market rally.
Currently, Pepe is down 6.59% today, 5.19% this week, but up 595% this month. It holds a $3.4 billion market cap and a $1.3 billion 24-hour trading volume.
There are two main reasons that Pepe could be one of the best cryptos to buy. First, it is a leading meme coin on the Ethereum blockchain.
While Solana has recently become a hotbed for meme coin innovation, it does not change the fact that many whales prefer Ethereum thanks to its decentralization benefits.
As such, Pepe could benefit as the Ethereum network activity picks up again. The recent Dencun network upgrade could also help, given it aims to make the Ethereum ecosystem more accessible and scalable.
The second factor hinting at bullish potential is that Pepe has already proven itself resilient and adept at overcoming adversity.
In addition to succeeding through the bear market, Pepe experienced tremendous criticism in August regarding a mishap in which ex-team members exploited the project. Nevertheless, it rectified its mistakes and its price recovered, attesting to its long-term potential.
Book of Meme
Emerging as Solana’s latest sensation, Book of Meme launched two days ago and has already amassed a staggering $1 billion market cap and secured a Binance listing.
The project’s unwavering success has caused a stir in the market, with it rising to the top spot on CoinMarketCap’s trending list.
It has enjoyed continued triumph since its CoinMarketCap listing, climbing 1,993% so far. However, a significant portion of its momentum has occurred today, with its price up 300%.
Around 40 minutes prior to writing, news broke that Binance would list the token for spot trading, leading to a 26% price increase in the last hour.
Indeed, up almost 2,000% with a $1 billion market cap, it may seem the opportunity to buy Book of Meme has passed. However, its early momentum is unprecedented, rendering the token somewhat of a unicorn and laying the way for an untravelled trajectory.
Interestingly, Book of Meme takes a more technical approach in its marketing strategy, highlighting its decentralized storage efforts through Arweave. Its website also looks ahead, targeting “future expansions to Bitcoin inscriptions as immutable forever storage.”
michel seyler
michel seyler is a brand new project paying homage to the infamous Bitcoin proponent, Michael Saylor. It encapsulates a new Solana meme coin trend, where projects misspell a famous person’s name, adding to the playfulness and contrarian nature of the meme coin asset class.
Currently, michel seyler occupies the eighth spot on DEXScreer’s trending list, but took the top spot earlier today. It holds a $1.3 million market cap and an $8.1 million 24-hour trading volume.
Its price is up 49,924% since launching but down 24% in the last hour and 20% in the last five minutes. This could present a solid buying opportunity should the price recover.
The unpredictable, high-octane meme coin environment and the project’s affiliation to a prominent industry player present significant potential.
However, similarly to Book of Meme, michel seyler uses a novel meme coin formula. While this could enable tremendous price appreciation, it also risks downside since the trend may not sustain long-term. Nevertheless, this is a concern among all disruptive cryptocurrencies.
