Key Takeaways
Crypto memecoins have clocked a market cap of $118.73 billion with an average of $45.06 billion trading volume at the time of writing.
VanEck – the NYC based global investment management firm recently filed for SOL spot ETF and launched a memecoin index called MarketVector featuring DOGE, FLOKI, PEPE and SHIB
The recent US Presidential Elections and the rally in Bitcoin have sparked interest in not just retail investors but also institutional investors across the globe.
Evidently, the search for Bitcoin on Google had seen a slump in late October, while queries relating memecoins saw an unprecedented rise amidst the ongoing presidential election.
Pump Fun – a memecoin launchpad platform is playing a crucial role in driving the memecoin frenzy with its simple to use interface.
Pepe ($PEPE)
Inspired by the iconic Pepe the Frog created by Matt Furie, $PEPE has outperformed most ERC-20 tokens in terms of its price. Positioning itself alongside popular memecoins like Shiba Inu and Dogecoin, PEPE embraces its identity as a pure, no-utility token. With a no-tax policy and a commitment to simplicity, the project seeks to capture the fun and speculative spirit that defines the memecoin space.
The memecoin went live in early 2023 and experienced a meteoric rise in late April and May 2023′ with its market capitalization peaking at an astonishing $1.6 billion. This surge turned early adopters into millionaires and sparked what many dubbed “memecoin season.”
Technical Analysis of PEPE
Pepe Coin skyrocketed by 120% in December, breaking past $0.00002 and approaching $0.00002524, fueled by massive accumulation of whales holding 10 trillion tokens.
The high buying pressure will likely take the price of PEPE to $0.00002800. At the time of writing, the VWAP of PEPE stood at 0.00002518
At 70.66, PEPE is approaching overbought conditions, signaling a potential slowdown in upward momentum. The coin may enter into the overbought zone hence a retractment from the recent high can be expected.
Dogecoin ($DOGE)
The OG of memecoins – $DOGE, has witnessed unprecedented increase in price. In November 2024, Dogecoin’s value increased notably after the U.S. presidential election and the appointment of Elon Musk to lead the Department of Government Efficiency (DOGE).
The price nearly tripled from $0.16 to almost $0.38, driven by expectations of a more crypto-friendly regulatory environment.As of December 10, 2024, Dogecoin is trading at approximately $0.4129, reflecting a slight decline from the previous close.
Floki ($FLOKI)
Almost every major meme crypto traces its roots back to Dogecoin or the so-called “Dogefather,” Elon Musk. Joining the ranks of top meme coins in 2024 is Floki Inu, a project inspired by Musk’s Shiba Inu puppy, Floki. While rooted in humor and meme culture, Floki Inu has leveraged its playful origin to carve out a unique position in the crypto space.
Beyond the memes, it brings real utility, standing out amidst the sea of meme coins flooding the market.
The project’s native token, FLOKI, is a multi-chain cryptocurrency operating seamlessly on both Ethereum and BNB Chain. As an ERC-20 and BEP-20 compliant token, FLOKI allows for easy bridging between the two chains, enhancing its interoperability and utility. This design empowers holders with greater flexibility and use cases for their tokens.
Floki surged by a whooping 8% after the project announced its launch of the Floki Debit Card. Some of the features of this card is listed below
- Zero Transaction and Exchange Fees: Enjoy cost-efficient transactions with no additional charges.
- Multi-Chain Compatibility: Seamlessly integrates with over 8 blockchain networks, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and stablecoins like USDT and USDC.
- Flexible Card Options: Choose between a physical card (€32 + shipping) or a virtual card (€10), both featuring a modest 2% top-up fee.
Currently available in 31 European countries, FLOKI’s physical card will soon expand to more regions. Virtual cards are accessible worldwide, excluding OFAC-sanctioned areas and regions restricted by issuing banks or Mastercard.This utility-first approach distinguishes FLOKI in the meme coin space, bridging the gap between crypto and real-world spending.
Bonk ($BONK)
Like PEPE and DOGE, BONK is a meme coin inspired by internet memes, jokes, and satire. Meme coins are not designed with a specific use case in mind, but rather as a way to express humor, creativity, and social commentary through cryptocurrency.
While BONK is similar to DOGE and SHIB in that it features a cute dog as its mascot and logo, it differs from them in several ways.
- BONK was launched with a massive airdrop on December 25, 2022, as a Christmas gift to the Solana community. 50% of the total supply of 100 trillion coins was distributed to Solana users who contributed to the development and growth of the network in some way.
This included artists, creators, developers, NFT collectors, and active community members. The airdrop was done randomly and anonymously, without any pre-announcement or marketing.
- As per current market performance, BONK appears to be volatile and its price appears to be finding support around 0.0000368 USDT and resistance near 0.0000450 $USDT.
- The current RSI stands at 40 indicating a neutral buy-sell pressure and the VWAP also indicates a sideways investors stance.
Dog Wif Hat ($WIF)
Backed by a vibrant community that loves its quirky charm and humor, Dogwifhat (WIF) has outpaced popular memecoins like Shiba Inu (SHIB) and Pepe (PEPE) in trading volume.Debuting in November 2023, WIF is a Solana-based memecoin featuring the playful image of a Shiba Inu sporting a pink knitted hat.
Unlike other tokens striving to represent innovation or futuristic visions, WIF embraces its meme roots unapologetically. Its ticker, “WIF,” humorously misspells “with,” underscoring its lighthearted, fun-first approach to the crypto world.
- Crypto analysts indicate that surpassing the $4.80 resistance level could pave the way for a potential rally toward $7.00, with $10 being a possibility if bullish momentum continues.
- On the flip side, if the price fails to maintain support above $3.50, it could face a pullback to $3.00 or even $2.50.$WIF is oscillating between $2.9 to $3 and the price is slightly below VWAP indicating a potential peak in price.
- Dogwifhat’s recent market moves, highlighted by a $93.8 million exchange outflow, reflect strong confidence among long-term holders, effectively easing selling pressure.
- At the same time, whale activity continues to influence the market, with a $9.5 million transfer to the biggest global crypto exchange, which has stirred mixed reactions. Despite this, the market has successfully absorbed the transaction, maintaining stability.
Chillguy ($CHILLGUY)
Chillguy, trading under the ticker $CHILLGUY, is a meme coin that has rapidly gained popularity within the cryptocurrency market, particularly among younger investors. Launched on November 15, 2024, this Solana-based token has seen an extraordinary price surge, reaching a peak increase of over 6,000% shortly after its debut.
The coin’s rise is closely tied to its cultural roots in a viral TikTok trend featuring a character known as “Chill Guy,” created by artist Phillip Banks in 2023.
Chillguy’s performance
- Upon its launch, $CHILLGUY started trading at approximately $0.006 and quickly climbed to an all-time high of $0.48 by November 21, 2024. As of late November, it was trading around $0.44, with a market capitalization that peaked at around $700 million
- CHILLGUY has exhibited considerable volatility since its launch, peaking at $0.66 before retracting to its current levels. Key resistance levels are identified at $0.60 and $0.66, while support levels are observed at $0.50 and $0.47. This fluctuation is typical for memecoins, which often experience sharp price movements based on market sentiment and social media trends.
- Currently, CHILLGUY’s performance is rated as a strong buy, with most moving averages signaling bullish trends across various time frames (10-day, 20-day, 50-day). The Relative Strength Index (RSI) remains neutral, suggesting that the asset is neither overbought nor oversold.
- The token’s price forecast suggests a rise between $0.80–$1.20, driven by increased utility and partnerships.
Meme ($MEME)
Memecoin (MEME) is a cryptocurrency that operates within the Memeland ecosystem, which is associated with the popular meme-sharing platform 9GAG. Launched in 2020,
Memecoin aims to create a decentralized community focused on humor, creativity, and the sharing of memes. It is built on the Ethereum blockchain as an ERC-20 token and plays a significant role in facilitating interactions within the Memeland community.
Meme performance
- Since its launch in October 2023, MEME has recorded a price increase of around 21%, which reflects a steady growth trajectory compared to other meme coins on the market.
- Analysts suggest that if the price breaches key resistance levels (specifically around $0.038), it could potentially rise towards targets of $0.048 and eventually $0.063. Conversely, support is identified at around $0.023, which could provide a safety net against significant downturns.
- Additionally, MEME is trading with an RSI of 31 indicating a low buying pressure and the token is also undervalued. The VWAP of Memecoin is slightly below the baseline.
