With the development of high-speed blockchains, low-cost transactions, and cutting-edge token launch platforms like Pump.fun, an average of 5,000 new coins are now launched daily. The vast majority of these are memecoins. However, more than 99% barely see the light of day, and even those that achieve fleeting success often fade into obscurity. Yet, a handful of coins seem to hold the potential to endure.

Memecoins have swept through the cryptocurrency world, especially after Donald Trump’s victory in the US presidential election. The overall cryptocurrency market is experiencing a massive surge, with Bitcoin reaching its all-time high and trading near $89,000, driven by expectations of a more crypto-friendly administration. However, Bitcoin is not the sole beneficiary—altcoins, memecoins, and other digital assets are also enjoying significant growth in this post-election rally.

Dogecoin has been at the forefront of these memecoins, particularly with Elon Musk’s support, securing its position as the sixth most valuable cryptocurrency globally. As the landscape evolves, new affordable alternative digital coins are emerging, poised for substantial growth. These tokens combine humor, community spirit, and innovative concepts, offering exciting opportunities for those looking to capitalize on the next big trend in cryptocurrencies.

Meme Coins Stealing the Spotlight

The memecoin sector took 2024 by storm, exploding with $93 billion in growth and surpassing other established cryptocurrencies. The memecoin economy has grown immensely from $23.55 billion to $119 billion, with a trading volume of $58.9 billion. This represents a 397.88% increase. On Friday, 15/11/2024, alone, memecoins accounted for $47.66 billion of the total daily cryptocurrency trading volume of $58.9 billion—marking the first time this milestone was reached since the 2021 bull market peak, nearly three years ago.

With this accelerating momentum, Q4 of 2024 is the perfect time to identify the next altcoins that may explode. Since memecoins derive their value primarily from popularity and investor enthusiasm, this article highlights the most talked-about memecoins on social media.

Peanut the Squirrel (PNUT)

After being listed on HashKey Global, the PNUT coin saw significant price changes. New exchange listings often increase visibility and trading volume, which frequently leads to price movements that can generate additional market interest. Such events can create short-term price movement catalysts.

The PNUT coin experienced remarkable growth, rising 1626.4% over the past week with a market cap of $1.68 billion. However, PNUT also saw a 17.3% decline in the last 24 hours, though it remains up an impressive 2925.65% over the past month.

The upward momentum for PNUT was further fueled by Binance’s recent update, introducing a new trading pair for PNUT against BTC (PNUT/BTC). The added liquidity and visibility from this update could serve as a significant catalyst for further price increases, attracting new traders and investors.

Pepe (PEPE)

Pepe, the third-largest memecoin by market capitalization, is a memecoin launched on the Ethereum blockchain. It was inspired by the cartoon character Pepe the Frog, created by Matt Furie in 2005. As a tokenized version of this popular internet meme, Pepe Coin has achieved an impressive market cap of $4.7 billion despite being launched just one year ago, in April 2023.

Starting at $0.000000190122, the coin quickly gained traction in the crypto community, surging to $0.00000372 within a month. Now, 18 months later, Pepe Coin trades at around $0.00001118, with a market cap of $4.7 billion as of November 2024, representing a return of over 5,700% since its launch.

Recently, PEPE has performed exceptionally well, rising 95.77% over the last 30 days. Like other memecoins, Pepe Coin lacks intrinsic value or utility. While this might appear as a red flag to some investors, this speculative and popularity-driven model is how many memecoins operate, deriving their valuation almost entirely from hype and community interest.

Dogecoin (DOGE)

As the "godfather" of all memecoins, Dogecoin leads the pack of meme-based cryptocurrencies and ranks sixth overall in the broader crypto market. Dogecoin has a market cap of $52.50 billion, though it has decreased by 7.9% over the last 24 hours and remains 50.87% below its all-time high of $0.7376.

Created as a joke in 2013, Dogecoin remains one of the most valuable and well-known cryptocurrencies today. Its value, along with other cryptocurrencies, surged following Donald Trump’s 2024 presidential election victory, amidst expectations of a more favorable regulatory environment for cryptocurrencies.

Tesla CEO Elon Musk has been one of Dogecoin’s biggest public supporters over the years. A 2019 tweet saw Musk jokingly elected as Dogecoin's “fictional CEO,” where he declared, “Dogecoin might be my favorite cryptocurrency.” Many of his companies have since accepted Dogecoin as a payment method.

Peanut (NUX)

The NUX coin rose 118.27% over the past 30 days and 57.80% in the last week. Data shows a noticeable increase in popularity for speculative tokens, often themed around animals like dogs or cats.

Conclusion

Whether or not you decide to invest in memecoins is a personal decision that depends on your financial goals, risk tolerance, and investment strategy. Memecoins can be highly volatile and unpredictable, with values that can fluctuate rapidly. On the other hand, memecoins can be a fun and exciting way to participate in the crypto market, and some investors have made substantial profits by investing in these types of tokens.

Additionally, memecoins can provide a sense of community and belonging, as many investors join forces to support and promote their favorite tokens. While volatility remains a hallmark, the undeniable impact of memecoins on market activity and investor sentiment suggests that these assets are more than just a passing trend—they are a transformative force in the cryptocurrency space.

Best Platforms for Trading Memecoins in 2024

• Pepperstone, the best platform for trading memecoins. Trusted for beginners. Established in 2010. Dubai-regulated. Minimum deposit: $0. Get bonuses up to $2000. Withdrawal and deposit options available via Mashreq Bank.
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Coffee price formed new bullish rally recently to surpass the first target at 278.50 and reinforce the chances of recording additional gains, to notice fluctuating near 283.25 now.

We expect to form additional support at 274.00 and get positive momentum by the major indicators, to form new bullish rally and attempt to press on 293.80 barrier, while surpassing it will push the price towards 305.20 as a next main target.

The expected trading range for today is between 274.00 and 293.80

Trend forecast: Bullish

Natural gas price confirmed keeping the bullish track to notice opening today by forming bullish gap and jump above 2.830$ barrier, recording some gains by touching 2.940$.

Now, stochastic attempt to provide the positive momentum will increase the chances of attacking 3.030$ level, assuring the importance of surpassing it to open the way to achieve additional gains that might extend towards 3.120$ and 3.200$ levels.

The expected trading range for today is between 2.850$ and 3.030$

Trend forecast: Bullish

The EURJPY pair failed to surpass 165.00 obstacle to form strong negative trades and break 163.25 level to suffer clear losses by touching 162.25.

The frequent stability below the broken support confirms moving to the negative track, to expect gathering the additional negative momentum and renew the pressure on 162.25 level, while surpassing it will extend losses towards 161.65 and 161.10 on the medium term period.

The expected trading range for today is between 161.65 and 163.30

Trend forecast: Bearish