The meme coin market has picked up quickly since the emergence of Ordinals. We’ve seen so many variants of OG meme coins making a great debut in the market but this meme coin bull run is something that has taken everyone by surprise. This meme coin mania has become exciting with more communities stepping into the meme pool.
Quick Take
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The meme coin trading volume is up by 24.35% at the time of writing and the total market cap has reached $50,850,550,328.
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Meme coin markets were mainly dominated by dog themed tokens but the recent addition of cat theme tokens like MEW, POPCAT and Politi Fi tokens like MAGA, BODEN have created a spur that no one had imagined.
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It is even more intriguing that Politi Fi meme market cap is ~ $77.95 mn with a trading volume of $77.54 mn. This trend can be mainly attributed to the reason that some political figures have announced that they are accepting donations in Bitcoin.
Trends in Themed Meme Coins
Dog and cat themed memecoins alongside Politi Fi memes have become increasingly popular because of its appeal. The driving force for these coins are community support, wide speculation opportunities and the most important factor ‘virality’. If we look at the OGs of meme coins, SHIBA and DOGE became even more popular when it received recognition from Vitalik Buterin and Elon Musk.
Let's have a look at the top performers in meme coins for June.
Top Meme Coins That Should Be on Your Watchlist
Top Dog and Cat Themed Memecoins
Dogwifhat (WIF)
A newer entrant in the memecoins pool, Dogwifhat has garnered a lot of attention in the crypto memes space. With its unique visual positioning of dogs wearing unconventional hats, the project has definitely made rounds at the crypto table. Besides its unique positioning, WIF has climbed the memecoin ladder largely because of strong community support and listing on major crypto exchanges around the world. The current trading price of WIF is close to it's all time high and analysts predict that the token could reach $5 soon enough.
Bonk (BONK)
Another stalwart in the memecoin world, BONK’s entry pushed the meme market by a significant number. Supported by an active community, Bonk thrives on engagement through memes, playful narratives, and social media interactions, enhancing its appeal as a notable memecoin.
Bonk received even more attention when the project airdropped tokens to its community. The developers of the memecoin also stated that the project is foraying into gaming, betting, decentralized finance, and NFTs (Non-Fungible Tokens) A memecoin with such utilities is sure to offer 100x.
Floki Inu (FLOKI)
Named after Elon Musk’s Shiba Inu dog, Floki Inu combines meme culture with serious ambitions, aiming to develop an entire ecosystem, including a gaming platform and NFT marketplace. It seems that the Dogefather has a lasting effect on memecoins. Once this meme was like any other project but today it is a well established crypto with use case in both DeFi and NFTs.
Floki is a multi chain project with its foot on both Ethereum and BNB chain. Which means users can bridge FLOKI from Ethereum to Binance chain easily.
Cats In A Dogs World (MEW)
MEW is a cat-themed token launched on the Solana blockchain, aiming to challenge the dominance of dog-themed cryptocurrencies. MEW has seen a surge in popularity, with a significant 440% increase in value over a week, thanks to its unique positioning and mission to "shake up the status quo" in the world of memecoins. The token offers LP burning and airdrops, which adds to its appeal among crypto enthusiasts.
Top Celebrity Themed Memecoins
MAGA (TRUMP)
MAGA ($TRUMP) is a meme coin inspired by former President Donald Trump’s slogan: “Make America Great Again.” The reason behind its attention and price volatility is due to the polarizing figure of Donald Trump that has attracted both supporters and critics.
Trump made a statement on May, 8th at Mar-a-Lago resort in Florida “Crypto is moving out of the U.S. because of hostility towards crypto,”…“We’ll stop it because I don’t want that—if we’re going to embrace it, we have to let them be here.”
According to Coinmarketcap, the meme coin recorded an all time high of $17.52 on June 1, 2024 and is currently trading at $10.68.
ConstitutionDAO (PEOPLE)
ConstitutionDAO's $PEOPLE token emerged from a decentralized effort to purchase an original copy of the U.S. Constitution in 2021. Although the DAO failed to secure the document, the campaign captured significant public interest and raised over $40 million.
Post-campaign, contributors received $PEOPLE tokens, which have since gained notable traction in the crypto market. As of June 2024, $PEOPLE boasts a market cap of $486,277,948 with a trading volume of $216,177,565 at the time of writing.
3. Donald Tremp (TREMP)
With the US elections on the anvil, Donald Trump shared that he will accept donations in BTC for running the election campaign. This proposition did not just attract the US citizens attention but also created a ripple effect in crypto leading to Polti Fi meme coins like MAGA and DONALD TREMP.
Political finance themed meme tokens are created and listed on many exchanges. However, only a few have been able to catch the market’s attention.
According to Dex Screener, the total number of TREMP holders is 31,850 with 12 liquidity providers at the time of writing.
Wrapping Up
To sum up, the current bull market has sizable market share for meme coins. With new meme coins produced alongside a great community, high profile influence and relevance to the internet meme, we can say that it has a different type of utility - the speculative utility (high risk high reward gameplay).
However it is advised that you weigh the risks associated to meme coin investing and invest an amount that you can afford to lose. Conduct thorough research if you plan to invest in these coins.
Read more: Best Memecoins to Know in 2024
