Meme coins are cryptocurrencies built on some kind of internet ‘prank’. However, the size of some of these tokens is no joke. Forbes takes a look at some of the biggest meme coins.
The original one among the meme coins: Dogecoin (DOGE)
If Bitcoin was the original cryptocurrency, then Dogecoin is the original meme coin. In fact, its developers conceived Dogecoin as a parody of cryptocurrencies back in 2013. The dog, named Doge, has been in the udders since 2005. With a market cap of approximately $10.4 billion, DOGE is the world’s largest meme coin. It is currently trading at around $0.074 per token. DOGE is publicly backed in part by Twitter and Tesla owner Elon Musk. That’s why he has a huge following.
Shiba Inu (SHIB), the successor of Dogecoin
Shiba Inu (SHIB) is another dog-themed meme coin. Its developers created the Shiba Inu anonymously in August 2020. It is based on the same set of internet memes as Dogecoin. Market cap of $4.6 billion. It also reached a value of $0.00008845 in October 2021 after being added to major crypto exchange Coinbase. Currently, SHIB is worth $0.0000074.
Pepe (PEPE) entering speed between meme coins
Pepe fell far behind DOGE and SHIB in terms of market value. A meme coin based on a meme popularized by the often problematic picture board website 4chan. cryptocoin.comControversies aside, the cartoon frog-fronted meme coin has made a huge splash since it hit the market in the spring of 2023. Its market cap is currently around $597 million. However, it peaked in May with nearly $1.3 billion, shortly after launch. PEPE is currently trading at $0.000001525.
Another Shiba Inu token: BONE ShibaSwap (BONE)
BONE is a management token used by members of the Shiba Inu (SHIB) community on the decentralized ShibSwap exchange. Members use BONE tokens to vote on the direction of the future of the exchange. Its market value reached approximately $480 million. However, it is currently $296 million. The token is currently trading at $1.29.
At the end of the meme coins list is Floki (FLOKI)
Floki is another offshoot of the Shiba Inu/Doge meme pool. It got its name from a dog owned specifically by Twitter and Tesla owner (and Dogecoin supporter) Elon Musk. Floki is the native currency of the Floki ecosystem focused on NFTs and NFT games. It also serves as a utility token. Its market capitalization reached its highest level ever at $480 million. It currently stands at $228 million. FLOKI is currently trading at £0.00002418.
What is meme coin?
Bitcoin is the original and largest cryptocurrency. All other cryptocurrencies are known as altcoins. Some altcoins are themed around internet memes. These are meme coins. Memetic theory came from evolutionary biologist and educator Richard Dawkins. In his 1976 book The Selfish Gene, Dawkins coined the term meme to describe the way ideas and cultural phenomena are transmitted and adapted as they change over time. Breasts are to sociology what genes are to biology.
Today, the term meme generally refers to image-based jokes, which are single-panel, digital comics. People often post memes online after adding their own comments. Popular memes include the Shiba Inu ‘Doge’, which became the basis for several meme coins, and Pepe the frog, which became meme coin in 2023.
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