Meme coins first captured the world’s attention in 2021 when Dogecoin (DOGE) rose from obscurity to produce exponential returns for early investors.
Now, in February 2024, a new crop of meme coins has emerged that could provide enormous gains for those willing to take a chance on them.
In this article, we’ll explore five of the most promising under-the-radar meme coins that could potentially deliver 100x returns to lucky holders over the next year.
1. Smog (SMOG)
The top contender on our list of meme coin gems that could provide 100x gains is Smog (SMOG) on the Solana blockchain.
This dragon-themed token aims to set itself apart from the masses of dog-based meme coins by introducing a lucrative airdrop for holders.
To participate in this airdrop, SMOG investors must simply hold the token to accrue “airdrop points,” which can be boosted further by signing up on Zealy.
SMOG experienced a fair launch on February 7 on the Jupiter DEX, seeing explosive demand right off the bat.
The token’s price surged over 1,000% on the first day of trading and now boasts a market cap of $92 million.
With enormous hype behind it and plans to implement a token burn protocol in the future, SMOG could be in line for further exponential gains in the months ahead.
2. Sponge V2 (SPONGEV2)
Another meme coin that stands out for its 100x returns potential is Sponge V2 (SPONGEV2).
Sponge V2 is the next version of the Sponge (SPONGE) meme coin that took the crypto world by storm last spring, surging to a $100 million market cap within days of its launch.
Now, the project is aiming even higher with the SPONGEV2 token on Polygon, with plans to deliver a decentralized play-to-earn (P2E) racing game featuring popular characters from the SpongeBob SquarePants show.
The shift to Polygon has also drawn the attention of retail investors since it provides faster and cheaper transactions than Ethereum.
Since transitioning to Polygon on February 5, the token’s value is up a whopping 72%.
Moreover, with staking yields as high as 2,092% per year, Sponge V2 could be another low-cap meme coin primed for explosive demand in 2024.
3. Meme Kombat (MK)
Meme Kombat (MK) is one of the most talked-about upcoming meme coin launches of 2024, having raised $8.4 million in its presale so far.
Combining the viral potential of memes with the growing play-to-earn (P2E) gaming sector, Meme Kombat offers a virtual battle arena where players can bet on animated fights between meme mascots.
Meme Kombat further appeals to investors by allowing the staking of the native MK token for up to 111% APY.
Once the battle arena launches after Meme Kombat’s presale concludes, players can climb the monthly leaderboard and earn even more MK rewards.
This gamified approach has resonated with meme coin lovers, leading to over 18,000 people following Meme Kombat on Twitter.
If Meme Kombat can continue gaining momentum in the final stage of its presale, then MK looks well-positioned as a moonshot meme coin to watch in 2024.
4. Coq Inu (COQ)
Our fourth explosive meme coin pick is Coq Inu (COQ) on Avalanche.
This chicken-themed token aims to capitalize on the speculative mania around animal-themed tokens and currently boasts a market cap of over $100 million.
However, at its peak on December 20, COQ had a total market value of $268 million – making it the largest meme coin on Avalanche.
Although the coin’s creators have said COQ has no intrinsic value, this hasn’t stopped meme coin enthusiasts from coming in their droves to buy the token.
Given that Coq Inu is hosted on a non-Ethereum blockchain, it has managed to differentiate itself from the masses, meaning it could be another low-cap meme token worth keeping an eye on.
5. Wen (WEN)
Rounding off our list of meme coins that could provide 100x returns in 2024 is Wen (WEN).
This cat-inspired token claims to be the “cutest” coin in Web3 while paying homage to the famous crypto phrase “wen moon.”
WEN was launched on Jupiter’s LFG launchpad and was followed by an airdrop that distributed 700 billion tokens, creating enormous exposure immediately.
This exposure has helped Wen attract millions in spot trading volume in the past day, making it one of the most talked-about new meme coin launches on Solana.
Although WEN is still in its infancy, if the token can follow in the footsteps of previous Solana success stories like Bonk (BONK), it could be another under-the-radar meme coin primed for a price pump.