Cryptocurrency traders are always looking for the next big thing in the meme coin space.
While seasoned investors tend to scoff at these high-risk assets, meme coins have demonstrated an impressive ability to generate exponential returns for early adopters.
In this article, we will highlight five meme coins that could deliver more than 10x gains before the end of 2024 if bullish conditions materialize.
1. SPONGEV2 (SPONGEV2)
The first item on our list is Sponge V2 (SPONGEV2). This meme coin is quietly gaining strength and positioning itself for an explosive 2024.
For those unfamiliar, Sponge V2 is the second version of the original Sponge (SPONGE) meme coin that became popular among SpongeBob SquarePants fans.
The original token saw massive gains in May 2023, reaching a market capitalization of $100 million just days after its listing on Uniswap.
Now, the upgraded Sponge V2 token seeks to recapture that same meme coin magic.
By allowing investors to lock up their V1 tokens to receive V2, the project successfully generated new interest and value.
With over $9.2 million worth of tokens already staked, Polygon’s return currently stands at a whopping 1,399% per annum.
In addition to the staking utility, Sponge V2 developers have ambitious plans to release a Play-to-Earn (P2E) game later this year.
With over 50,000 holders and continued growth on social since moving to Polygon, Sponge V2 could become a meme coin poised for a 10x return in 2024.
Interested investors can purchase SPONGEV2 tokens through Uniswap or by visiting the Sponge.vip website.
2. SMOG
Another meme coin making waves is SMOG on Solana Blockchain.
Launched last week, SMOG has exploded in popularity, recording an incredible rise of over 3,000% in the first three trading days.
Smog currently has over 14,600 people holding SMOG tokens and has quickly amassed a fully diluted market capitalization of over $45 million.
The token creators achieved this despite minimal marketing, largely relying on community hype and word of mouth about Solana-based meme coins.
Now, its creators are looking to further increase interest by tying the token to Ethereum.
Smog aims to leverage the power of Wormhole to become a thriving multi-chain project ahead of its highly anticipated airdrop campaign.
Prior to the official event, more than 10,000 airdrop operations have already been completed, showing that there is no lack of interest from individual investors.
So, while SMOG’s value may have retreated from last week’s highs, multi-chain plans and the upcoming airdrop indicate that SMOG has the potential to rise once again.
Investors can purchase SMOG tokens through Solana-based DEXes such as Raydium and Orca, or by going directly to the smogtoken.com website.
3. WEN
Here are the most popular Wen (WEN) tokens on Solana:
WEN incorporated the “wen Moon” meme into its cryptocurrency token, making it one of the most talked-about new meme coin launches.
At its core, WEN represents split ownership of an NFT, split into 1 trillion tokens that are airdropped to 1 million wallets.
It was the first coin to be officially launched from Jupiter’s LFG launch pad and has performed impressively in the seven days since.
The value of WEN has increased by 62% since its launch on Jupiter, and the token boasts a 24-hour trading volume of $41 million.
All in all, for those looking to speculate about the next viral meme coin, WEN and its unique approach ticks a lot of boxes.
4. Kok Inu (COQ)
Coq Inu (COQ) is a meme token hosted on the Avalanche blockchain that currently has a market capitalization of over $139 million.
Riding the wave of interest in animal-themed tokens, Coq Inu features a rooster theme to differentiate itself from dog-based meme coins.
However, the creators admit that it has no intrinsic value and is purely for entertainment rather than an investment.
Despite this disclaimer, the hype and speculation has driven COQ’s value up 115% in the past week alone.
Since yesterday, more than $11 million worth of COQ has been traded, making it the 13th.Day It is the most traded meme coin worldwide.
COQ may still be a fraction of the size of Dogecoin (DOGE), but its exponential growth suggests there may be more upside for risk-tolerant investors.
5. CATFISH
Completing the list of potential 10x meme coins for 2024 is Catfish (CATFISH).
This new token takes a fun approach, branding itself as an antidote to all the hype and false promises that have become part of the meme coin space.
By supplying up to 1 billion tokens tax-free, the creators aim to ensure that CATFISH rises and falls solely on the strength of its community.
So far, the market seems to be intrigued by the concept of CATFISH, with the token rising 311% since yesterday’s launch.
Currently, CATFISH’s market capitalization is $1.3 million, and spot trading volume is over $7.7 million.
Despite being the newest meme coin on our list, Catfish has tremendous growth potential if it continues to capitalize on parody ideas.