Memecoins have again enjoyed widespread popularity in 2024, thanks to a highlight of traders who eked out huge returns for spotting the right opportunities. Traders have reportedly seen up to 3000x gains in only a few days from some meme coins with the best returns, further establishing the immense potential in the meme coin investing world, amidst increasingly favorable climes.
However, the high profitability of the meme coin market doesn't take away the market's volatility. Here's why maximizing a list of the best-performing meme coins can go a long way in helping investors protect their income and capitalize on trending opportunities.
Best Meme Coins of 2024
Traders are looking beyond big names like Bitcoin and Ethereum, diving into lesser-known assets to discover the next big thing. Thanks to platforms like Solana, which offer lower transaction fees and faster speeds than Ethereum, the popularity of meme coins has spiraled recently, latching onto internet trends to capture adventurous investors.
Thanks to an open trading floor, profits and losses on virtual assets are publicly accessible, which makes drawing a list of the most profitable meme coins in 2024 a relatively straightforward catch. From Dogwifhat to Shiba, these meme coins have made many millionaires (or multimillionaires) this year. Good news? The trends don't look like they're stopping any time soon.
Most Profitable Meme Coins of 2024
Below are the most profitable icons of 2024:
1. Dogwifhat
Dogwifhat's logo is a Shiba Inu in a knitted beanie, highlighting its affiliation with one of the most popular meme coins in the world. The aptly named token has garnered a market capitalization of over $1 billion and was the best-performing meme coin in the first half of the year.
WIF was built on Solana and capitalized on the popularity of dog-themed meme coins like Dogecoin and Shiba Inu, quickly reaching an all-time high of $2.37 earlier this year. One "Unknown Trader" reportedly traded $WIF and gained $11M after holding on to the token following an earlier failed sale transaction.
2. PEPE
"The Blacklist Saga" purchased 2.5 trillion $PEPE tokens using only $26, only to see its value rise to $61.5 million somewhere down the line. Although this holder could neither sell their tokens nor realize their gains – a discussion for another time – his story highlights the potential upside of the meme coin industry.
PEPE was the second-best performing meme coin in the first half of the year, registering nearly 800% gain, per CoinMarketCap reports. However, many other investors have made considerable wealth from $PEPE in 2024.
3. DOGE
There's probably no mentioning the meme coin niche without a reference to Dogecoin (DOGE). Dogecoin has evolved to become one of the world's most valuable and famous cryptocurrencies. It's perhaps one asset that has proven to date that meme coins could still maintain their relevance – many thanks to big-name backers like Elon Musk.
4. BONK
BONK was up by 90% in the first half of 2024, hitting a market cap of $1.5 billion. Perhaps the biggest "meme coin millionaire story" from BONK this year has to come from Unipcs, who held BONK for 13 months during which $16,000 became $18 million in unrealized gains.
Incidentally, Unipcs also made a handful of millions from DOGE trading. However, beyond BONK’s success story, analysts generally agree that BONK has a highly optimistic outlook, going into 2025.
The Bottom Line
Like many savvy traders, Unipcs has chosen to not glamorize his win. The "BONK Guy" would say to would-be meme coin millionaires, "If you Can't Hold, You Won't Be Rich." Thankfully, you now have some idea of what tokens you MAY hold as the New Year beckons.