Top Meme Coins to Keep an Eye on in October 2024

Introduction

A memecoin, as the name suggests, is a coin built on the back of a meme and a running joke. While the idea behind these crypto projects might have been a joke, at the same time – the current status of these coins is no joke. Memecoins tend to have some of the strongest community backing out of the entire crypto industry. In most cases, these are crypto projects that are run primarily by the community’s decisions, more than most other projects in the crypto world.

This is one of the reasons top memecoins in 2024 have gained in popularity, thanks to the greater perceived decentralization of the token. While the decentralization of these coins is debatable, the fact that they have huge community support and participation is undeniable. Thus, in this article, we will look at some of the top memecoins in 2024 by market capitalization.

Top Memecoins by Market Cap [2024]

Dogecoin (DOGE)

First on the list of top memecoins in 2024 is Dogecoin is the OG of all memecoins in the crypto market. Created by Jackson Palmer, a product manager at Adobe Inc., and Billy Marcus, a software developer at IBM – created this crypto token, pretty much as a joke, which is further exemplified by the logo of a dog, specifically a Japanese Shiba Inu breed of dog as its mascot. That’s how the project got the name, Dogecoin – and from there its history. 

Dogecoin is a true peer-to-peer, open-source crypto asset. It was launched back in December 2013 and its underlying code and technology derived inspiration from Litecoin, another crypto asset. Dogecoin saw a massive rally back in the bull run of 2017 amid the ICO boom – but soon after, during the crash of 2018, DOGE lost most of its value. However, despite its image as a joke and having lost a chunk of its value, Dogecoin still has a very strong community, led primarily by none other than the Chief Twit, Elon Musk. Musk has been a proponent of Dogecoin thanks to its utility as a blockchain-based payment mechanism and extremely low fee structure, making it very useful in that space.

DOGE/USD | Source: TradingView

• Although Dogecoin saw a strong recovery in mid-July, similarly Dogecoin price in September saw a near 40% rally up to its local highs before correcting slightly and testing the crucial psychological level at $0.1
• Dogecoin is currently trading below both its 50-day and 200-day Exponential Moving Averages (EMAs), which have formed a bearish death cross, signaling the likelihood of continued selling pressure.
• The price of Dogecoin is holding support near the $0.1 mark. A decisive drop below this level could trigger further declines, potentially reaching the S2 Fibonacci level at $0.085.
• For a trend reversal to occur, Dogecoin price needs to break and sustain above the key psychological barrier of $0.1, followed by surpassing the R3 Fibonacci pivot level for October at approximately $0.15. Achieving this could set a target of $0.2 by the end of September 2024.
• If Dogecoin price reaches the $0.2 mark in October, it could open the door to new price targets, with the potential to rise to $0.3 before the end of the year.

Read more: Dogecoin Price Prediction

Shiba Inu (SHIB)

Shiba Inu is next on the list of top memecoins in 2024 by market cap. After Dogecoin, this is probably the industry’s most recognized meme-inspired crypto asset. From a technical point of view, while Dogecoin is a standalone blockchain, Shiba Inu is an Ethereum-based altcoin, which also happens to feature a Shiba Inu as its mascot.

Shiba Inu is widely regarded within its community as a “Dogecoin killer”, and was built by an anonymous individual or group known as Ryoshi as recently as August 2020. 

Shiba Inu has had a tough year in 2022 but has recovered moderately since the beginning of 2023, in a crypto market rally led by the heavyweights like Bitcoin and Ethereum. Shiba Inu’s community, however, has been strong as ever and it has continuously been engaged in support of the token, thanks to which the ecosystem is beginning to see newer and newer projects being built on it. Shiba Inu has its own metaverse, where players can interact in a decentralized way, earn rewards and enjoy.

SHIB/USD | Source: TradingView

• After a sluggish 2023, Shiba Inu price has seen a substantial rise since late February 2024, reaching nearly a 300% gain by March.
• In a significant rally, SHIB price skyrocketed from under $0.00001 to nearly $0.00004 in March before correcting to below $0.000015.
• Like Dogecoin, Shiba Inu is currently trading above both its 50-day and 200-day EMAs, driven by the ongoing recovery trend in the broader crypto market, despite the bearish death cross.
• SHIB price is currently around 500% lower than its previous all-time high of approximately $0.000089. Psychological resistance is expected near this level, while the $0.00001 to $0.000011 range could offer support, aligning with the S2 Fibonacci level for September 2024.

Read more: Shiba INU Price Prediction

Pepe (PEPE)

One of the most recent entrants into the list of top memecoins in 2024 is the Ethereum-based memecoin PEPE has to be one of the fastest-growing crypto assets since its launch. Despite the market humdrum, PEPE has delivered mind-boggling numbers in terms of growth in the token. PEPE is based on the very popular internet meme of a green cartoon frog, which has become a symbol of internet culture and humor. It was launched with the promise that the time of the dog-based memecoins was over and the frog was about to take over.

According to their official website, the PEPE memecoin has been designed to be the “most memorable memecoin in existence.”  The website also mentions that by design, PEPE has no intrinsic value:

“PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

It’s worth noting that this is nothing new in the world of crypto. Multiple memecoins have existed in the past, making no claims and outright alarming users that they have no value whatsoever. In the very brief time it has been trading in the market, it has shown a very rapid rally of over 400% since its launch, has managed to maintain that level, and is currently ranked 111 on CoinGecko. It had even managed to breach into the top 100 for a brief while before retreating back.

PEPE/USD | Source: TradingView

• Amid ongoing activity in the memecoin market, where established players like Dogecoin and Shiba Inu lead, newcomer Pepe has emerged as a strong competitor. It has experienced a notable price increase, securing its position in this competitive landscape.
• Pepe price rose from under $0.000007 to around $0.000014, effectively doubling in value before dropping below $0.000001 due to the recent crypto market correction. Previously, it maintained a position above $0.000001, signaling the potential for continued growth.
• Pepe coin price climbed even higher, briefly surpassing the key $0.000017 level before experiencing a slight correction, stabilizing just above $0.00001 in July.
• Currently PEPE price is trading above both its 50-day and 200-day EMAs – both of which have undergone an optimistic bullish crossover. This will support further upward movement in the price of the memecoin. 
• On the upside, once Pepe price is able to breach the crucial $0.00001 level, which is not that far away, as of writing this article – we can see a follow on buying activity that could potentially push Pepe price up to $0.00002 before the end of “Uptober”
• On the downside, if the market faces further corrections, Pepe price is likely to find support at the psychological $0.000006 level, which aligns with the S2 Fibonacci level for October 2024. This level will be critical for investors and analysts to monitor, providing insight into price trends and market sentiment.

Read: Pepe price prediction 2024

Dogwifhat (WIF)

Up next on the list of top memecoins in 2024 is Dogwifhat (WIF) has emerged as a significant player in the memecoin market, positioning itself as a top contender among the meme coin heavyweights. In 2024, WIF has swiftly climbed the ranks to become the third-largest meme coin by market capitalization, surpassing Pepe. This Solana-based meme coin made a remarkable debut in 2023, experiencing a substantial surge from a low of $0.2 to a high of $2.09, showcasing an impressive growth trajectory.

The success of Dogwifhat can be attributed to its strong community support, strategic listing on major exchanges like Binance, and the robust Solana ecosystem it operates within. Analysts have noted that the significant surge in WIF’s price is not merely a result of hype but also due to sustained interest from whales and the overall strength of the Solana network. With projections indicating a potential price target of $5 by the end of 2024, Dogwifhat stands out as a meme coin project to watch closely for further developments and price movements.

WIF/USD | Source: TradingView

• WIF price has been fluctuating within a widening range, reflecting mixed market sentiments shaped by trading volume and broader market conditions. Currently, the outlook is moderately bearish, with the price stabilizing well below its recent highs.
• Among the top memecoins, WIF has experienced the smallest decline during the general crypto market correction in August 2024.
• Although Dogwifhat price is relatively stable at the moment, there is potential for consolidation, which could help stabilize the price further before potentially resuming an upward trajectory.
• This stability phase could set the stage for a renewed upward movement, with WIF price potentially revisiting its $4.8 peak and breaking the crucial $5 resistance. However, to accomplish this, WIF must regain bullish momentum by sustaining above the $2.5 mark, where it traded just a few weeks ago.
• Further, on a positive note – the 50-day and 200-day EMAs have undergone a bullish crossover and WIF price is trading above both the EMAs as well – in line with the broader memecoin market recovering strongly despite the rest of the market trending sideways.
• For bullish momentum to take hold, WIF price needs to break through the R1 Fibonacci pivot level for October, near $2.6. Once this level is breached, the price could aim for targets of $3 to $3.4 before the end of October.
• On the downside, the area between the base Fibonacci pivot for October and the psychological level at $2 , is expected to serve as strong support. This level has previously held and remains a key psychological demand zone.

Bonk (BONK)

Bonk (BONK) has swiftly emerged as a noteworthy token in the list of top memecoins in 2024. Characterized by its vibrant community and unique approach, Bonk has garnered attention due to its distinctive meme-inspired branding and active social presence. With its unmistakable logo and engaging community-driven initiatives, Bonk has cultivated a dedicated following.

The coin’s rising market cap positions it among the top memecoins in 2024 by market capitalization, showcasing its growing popularity among crypto enthusiasts. Backed by an active community, Bonk fosters engagement through memes, playful narratives, and social media interactions, contributing to its allure as a notable memecoin.

Investors and enthusiasts looking for the next big memecoin often consider Bonk due to its vibrant community engagement, growing market cap, and the potential for further expansion in 2024 and beyond. As the memecoin landscape evolves, Bonk remains on the radar as an intriguing player in this niche market segment.

BONK/USD | Source: TradingView

• Among the leading memecoins in October 2024, Bonk price has been one of the weaker performers, experiencing the smallest rises but is continuing to trade above its long-term support level (marked in blue).
• Over the past year, Bonk price has demonstrated solid performance, particularly gaining momentum since October 2023. As 2024 unfolds, BONK price trajectory remains positive, bolstered by a broader memecoin rally.
• Currently, BONK is trading just below the base Fibonacci pivot level for October; a breakout above the base Fibonacci level of $0.00002 could target $0.000027 and potentially $0.000041, representing a potential 100% increase from its current levels.
• In the event of a bearish market shift, the $0.000015 to $0.000016 range is expected to provide key support for BONK, aligning closely with the S2 Fibonacci pivot level for October.

Floki Inu (FLOKI)

Well, as it turns out – almost every major meme crypto has some link back to either Dogecoin or the Dogefather, Elon Musk. This time around the next member in the list of top memecoins in 2024 is Floki Inu that was named after Elon Musk’s very own Shiba Inu puppy, and its popularity as a crypto project has skyrocketed. While, it is built on the idea of a joke and a meme, it attempts to wholly own that meme status to bring out utility in various forms to stand out from the thousands of other memecoins flooding the market.

Floki is a crypto project that was initially started as a meme but was soon fully transitioned into a living breathing Web3 project, spanning across sectors like decentralized finance (DeFi), non-fungible tokens (NFTs), and more recently, its own metaverse. Some from the community even like to call Floki, “The People’s Crypto”.

FLOKI, the native crypto token associated with this project is a multi-chain token that operates both on Ethereum and BNB Chain as it is built to be both ERC-20 and BEP-20 compliant. Thus, FLOKI tokens can be bridged between these two chains very easily allowing holders to be able to do more with their tokens, bringing about an extra level of interoperability. It’s metaverse, Valhalla has been gaining a lot of momentum recently, too!

FLOKI/USD | Source: TradingView

• At the start of 2024, FLOKI price experienced a remarkable rally, with its price skyrocketing by 730% at its peak and still maintaining a solid 250% gain despite a market-wide correction.
• In March, FLOKI price surged by an impressive 460% at its peak, breaking the critical $0.0003 psychological barrier, which it surpassed again at the end of May 2024. However, since early August, the memecoin market, including FLOKI, has seen a significant correction, with prices dropping over 30%.
• Currently, FLOKI price is trading just below the base Fibonacci pivot level for October 2024, hovering under the key psychological level of $0.00015.
• To regain bullish momentum, FLOKI needs to break above the base Fibonacci pivot level at $0.000147 and sustain a breakout above both the 50-day and 200-day EMAs. A successful move above the R3 level at $0.0002 could set new targets at $0.00025 and possibly $0.0003.
• On the downside, if bearish sentiment takes hold, the psychological level and the S2 Fibonacci pivot level for October at $0.0001 could provide critical support for FLOKI price.

Read more: Top Ethereum ERC-20 Tokens

DOGS Token (DOGS)

The DOGS token has rapidly emerged as one of the most talked-about memecoins in recent months. Created as a playful yet bold tribute to the internet’s obsession with dog-themed cryptos, DOGS capitalizes on the viral nature of memecoins while also introducing some innovative features. Unlike other memecoins that thrive purely on hype, DOGS aims to build a robust ecosystem with community-driven initiatives, staking opportunities, and utility-focused developments.

What sets DOGS apart is its aggressive marketing and the support it has garnered from influential figures in the crypto space, including nods from social media giants and endorsements from well-known personalities. The recent buzz surrounding DOGS intensified after the token was listed on major exchanges like CoinDCX, further legitimizing its presence in the market.

Moreover, the DOGS community has shown remarkable engagement, driving up trading volumes and maintaining the token’s visibility across various platforms. As more users flock to memecoins for quick gains and entertainment, DOGS has positioned itself as a serious contender, blending meme culture with strategic growth, making it one of the top memecoins to watch in 2024.

DOGS/USDT | Source: TradingView

• The DOGS token launched at approximately $0.00055 and experienced a significant rally soon after. This surge saw the token more than triple in value, though it has since undergone a slight correction, it remains just over above its initial launch price.
• As a new entrant in the market, DOGS price needs more time for thorough technical analysis and to gain a clearer understanding of future price trends. Despite this, the overall market structure for DOGS appears favorable.
• Currently, the token is trading above the key psychological level of $0.001, indicating strong market support. The next price target for DOGS, following a breach of its all-time high (ATH), is expected to be around $0.005.
• On the downside, the price range between $0.00055 and the S2 pivot point near $0.0006 is likely to act as a crucial support zone. This area is particularly important as it aligns with the token’s launch price, offering a solid foundation for potential price stability.

Read more: Top Crypto Airdrops

So, How can you invest in these memecoins?

Today, investing in these top memecoins in 2024 is extremely simple with the CoinDCX App! Just download the CoinDCX App crypto investment app, enter the required details, and wait for your profile to be verified. Once done, fund your wallet, and you can now buy any memecoin coin of your choice!

Conclusion

To conclude, this article compiles a list of some of the most well-known and well regarding projects in the crypto industry that belong to the very exciting world of memecoins and community fervor. While there is a lot of skepticism around these projects in the market, as mentioned earlier – the amount of community support these kinds of projects get is simply unparalleled.