Memecoin

A digital asset inspired by internet memes or viral trends, driven by community hype rather than utility, and known for extreme price volatility.

What is Memecoin?

Memecoins are digital assets that draw from internet culture, such as memes, jokes, or pop phenomena, often created as satirical or novelty projects but gaining substantial value through social media virality and community enthusiasm. The category traces its roots to Dogecoin (DOGE), launched in December 2013 by Billy Markus and Jackson Palmer as a lighthearted parody of Bitcoin, featuring the Shiba Inu “Doge” meme; it surged in popularity in 2021 due to endorsements from figures like Elon Musk, reaching a peak price of $0.74. Subsequent memecoins like Shiba Inu (SHIB), released in August 2020, positioned itself as the “Dogecoin killer” with a massive token supply and burn mechanisms, while Pepe (PEPE), launched in April 2023 on Ethereum, capitalized on the Pepe the Frog meme to amass a $4.5 billion market cap by September 2025.

As of September 21, 2025, the top memecoins by market cap include Dogecoin at $40.58 billion (price: $0.2687), Shiba Inu at $7.65 billion (price: $0.00001297), Pepe at $4.5 billion (price: $0.00001070), Memecore (M) at $2.63 billion (price: $2.53, up 9.91% in the last 24 hours), and Pudgy Penguins (PENGU) at $2.21 billion (price: $0.03511). These assets dominate the meme category, which has seen explosive growth tied to blockchain ecosystems like Solana for faster, cheaper launches, with trends like AI-generated memes and celebrity-backed tokens fueling 2025 rallies—such as PEPE’s 150% year-to-date gain amid broader market recovery.

Despite their appeal, memecoins are highly speculative, frequently subject to pump-and-dump manipulations or rug pulls, as evidenced by over $500 million in losses from meme-related scams in 2024 per Chainalysis reports. Investors should verify token contracts on Etherscan, track whale movements via Nansen, and limit exposure to 1-5% of portfolios, focusing on established ones like DOGE with real-world integrations (e.g., Tesla merchandise payments) over unproven launches hyped on X.