With the emergence of various blockchains like Ethereum, Solana, & Tron supporting memecoins, the joke tokens have quickly become one of the biggest niches in the crypto ecosystem. Currently, all the memecoins have a cumulative valuation of about $37 billion, and there are hundreds of new coins being added to this category every day.
Initially dismissed as a joke, these tokens have become a central point, often the most viral ecosystems in the crypto community. Memecoins are a phenomenon where pop culture and decentralized finance meet, and with $37 billion in the ecosystem, it is serious money now.
When it comes to launching and trading memecoins, Ethereum had been the place to do so for a while, but Solana was the go-to ecosystem for it in the summer of 2024. However, in August 2024, Tron made an entry into space to disrupt the top chains.
Ethereum – Pioneer of the Meme Economy
Ethereum has long been THE blockchain for launching innovative projects, and memecoins are no exception. The ETH network has given rise to some of the most iconic and popular memecoins in the market today.
Shiba Inu is the most famous and valuable of these. It was initially created as a “Dogecoin killer” but quickly evolved into a major player with its own DEX ShibaSwap.
PEPE, although controversial due to its association with an internet meme deemed a hate symbol by the ADL, became a sensation. Floki Inu experimented with cross-chain functionality, also launching the Binance Smart Chain to reach a broader audience.
Pros:
- Established ecosystem
- Large user base
- Security
Cons:
- High transaction costs
- Network congestion
- Scalability Issues
Top 5 ETH memecoins
| Name | Origin Date | Total coins in circulation | ATH price | ATH market cap | Current Price | Current Market Cap |
| Shiba Inu (SHIB) | August 2020 | 589 Trillion | $0.00008845 | $43.5 billion | $0.00001364 | $8 billion |
| Pepe (PEPE) | April 2023 | 420.69 Trillion | $0.0000167 | $7 billion | $0.000007538 | $3.2 billion |
| Floki Inu (FLOKI) | June 2021 | 9.6 trillion | $0.0003437 | $3.5 billion | $0.0001241 | $2.3 billion |
| Brett (BRETT) | July 2023 | 10 billion | $0.78 | $1.9 billion | $0.07485 | $743 million |
| Mog Coin (MOG) | July 2023 | 420 trillion | 0.0000002356 | $850 million | $0.000000928 | $335 million |
Solana: Fast, Affordable and Popular
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Solana has now become the favorite platform for memecoin creators, all because of its low transaction costs and high throughput. The rise of DogWifHat is a testament to the platform’s growing influence in the memecoin space.
March 2024 marked a particularly explosive period for SOL’s memecoin ecosystem, as a wave of new projects launched, fueled by the ease of creating tokens and the excitement around low-cost, high-speed transactions.
This period saw a frenzy of trading activity, with several memecoins reaching substantial market capitalizations in a very short time. However, that traction has reduced now significantly.
Pros:
- Low Transaction Costs
- High Speed
- User Friendly Tools
Cons:
- Centralization concerns
- Reputation of pump and dump scheme
- Network Outages
Top 5 Solana memecoins
| Name | Origin Date | Total coins in circulation | ATH price | ATH market cap | Current Price | Current Market Cap |
| DogWifHat (WIF) | September 2023 | 1 Billion | $4.8 | $4.58 billion | $1.58 | $1.58 billion |
| Bonk (BONK) | December 2022 | 69 Trillion | $0.0000415 | $2.77 billion | $0.00001753 | $1.23 billion |
| Popcat (POPCAT) | October 2020 | 980 Million | $0.98 | $970 million | $0.593 | $580 million |
| Book of Meme (BOME) | March 2024 | 69 Billion | $0.02281 | $1.3 billion | $0.006116 | $420 million |
| cat in a dogs world(MEW) | March 2024 | 88 Billion | $0.0089 | $800 million | $0.004128 | $367 million |
Tron: The new meme kid on the block
Tron has become the latest contender in the meme coin space with its positioning as an alternative to Solana. Although, right now, the landscape is heavily influenced by Justin Sun, the founder of Tron, with many projects appearing to be closely tied to his initiatives.
The recent launch of SunPump, a platform designed to rival Solana’s Pump.fun, has catalyzed the creation of thousands of memecoins on TRX. While still in its early stages, TRX’s memecoin ecosystem is showing promise for those looking for a low-cost alternative to Solana.
Pros:
- Low Costs
- High Liquidity
- Growing ecosystem
Cons:
- Centralization issues
- Limited adoption
- Justin Sun’s reputation
Top 5 Tron memecoins
| Name | Origin Date | Total coins in circulation | ATH price | ATH market cap | Current Price | Current Market Cap |
| Sundog (SUNDOG) | August 2024 | 1 Billion | $0.03271 | $326 million | $0.2578 | $257 million |
| Bulls (BULLS) | August 2024 | 1 Billion | $0.007 | $12.5 million | $0.0055 | $ 8.6 million |
| Fofar (FOFAR) | August 2024 | 1 Billion | $0.03591 | $8.9 million | $0.0043 | $2.3 million |
| Sunpepe (SUNPEPE) | August 2024 | 1 Billion | $0.0063 | $6.3 million | $0.00086 | $867,621 |
| Suncat (SUNCAT) | August 2024 | 1 Billion | $0.016 | 16 million | $0.0091 | $9 million |
The Memecoin landscape is continually evolving. It remains a big opportunity for traders who like volatility. The race might not be between these three players only.
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TON has recently been making waves with projects like DOGS, which has already become a top 100 crypto. Unfortunately, the coming bull market will certainly see a battle of memes, sometimes at the expense of overoptimistic traders.
Also Read: Telegram Game X Empire Mining Phase Ends Soon; Token Airdrop in October?
