Meme Coin has had a solid year-end in 2023, with Bonk leading the way as one of the best-performing tokens in the space.
Now, as we enter 2024, various coins are trying to mimic or beat the returns that Bonk was able to achieve.
In this article, we will analyze the 6 best meme coins that could deliver 10x profits this year based on community hype, utility, and technical factors.
1. Sponge V2
Kicking off our list of the best meme coins to buy in 2024 is Sponge V2 (SPONGEV2).
The token debuted in May 2023 thanks to the popularity of the iconic SpongeBob SquarePants cartoon character.
In just a few days, SPONGE surged 100x in price despite entering the market at a time when most investors were bearish.
Now the SPONGE team has even higher ambitions, as evidenced by the upcoming major upgrade to Sponge V2 (SPONGEV2).
Sponge V2, expected to launch later this year, represents a shift beyond the traditional meme coin model.
We will introduce play-to-earn games so token holders can earn rewards through competitive gameplay.
The upgrade also includes a Stake-to-Bridge mechanism to encourage conversion to V2 and provides SPONGE holders with a 466% annual return.
In particular, the V2 announcement has led to a 60% increase in the price of the original SPONGE token over the past month, highlighting investor enthusiasm for the new launch.
People who want to participate in the ecosystem can purchase SPONGE tokens on sponge.vip and automatically stake them to receive SPONGEV2 once the tokens are activated.
2. Meme Combat (MK)
The next meme coin with a 10x potential in 2024 is Meme Kombat (MK).
Meme Kombat seeks to inject fighting style action into the meme coin space through a virtual fighting platform.
This allows users to bet on fights between popular meme coin mascots like Doge and Shiba Inu, who face off in hilarious animated battles.
MK is the native betting token, and users are rewarded through winning bets and staking.
The current staking return is set at 161% per annum and over 24.4 million MK tokens have already been pledged.
Having raised more than $5.8 million through presales, Meme Kombat has undoubtedly caught the attention of retail investors.
Future plans include new seasons, characters, and game modes to ensure gameplay never gets stale.
With YouTube celebrities like Michael Wrubel already following suit, Meme Kombat has the potential to become a major player in the meme coin market.
Investors can purchase MK tokens for $0.268 through the pre-sale using ETH or USDT.
3. Snack
Next up is Snek (SNEK), which it describes as “the coolest meme coin on the Cardano blockchain.”
Snek debuted in April 2023 and features a playful snake theme that contrasts with the dog style seen on most meme coins.
The token operates on a deflationary basis, with 1% being burned on each transaction, with the goal of gradually increasing its holding value over time.
Snek, the top Cardano meme coin by trading volume, now boasts a list of top exchanges and plans to move beyond memes into real-world utility like P2E gaming.
Currently, SNEK is trading at a level of $0.0016, and with the price up more than 1,000% since October 2023, there is no doubt that there is room for a 10-fold increase this year if all goes according to plan.
4. Shiba Inu (SHIB)
Although still well below 2021’s all-time highs, Shiba Inu (SHIB) is showing signs of a potential 10-fold resurgence this year.
SHIB experienced a price roller coaster in 2023, ending the year at around $0.000010.
Key events in 2023 included the launch of the Shibarium network and enhanced burn plans to reduce supply.
Last week, SHIB fell to third place in the ranking of meme coins by daily trading volume, behind BONK.
However, with such a wide online community and increased usage of Shibarium, SHIB may be well-positioned to grow 10x over the next 12 months.
5. Meme Coin (MEME)
Another meme coin that could grow tenfold this year is Memecoin (MEME), an ambitious Web3 experiment from popular meme platform 9GAG.
Launched in November 2023 as the native token of “Memeland,” Memecoin aims to create a decentralized meme economy that benefits from 9GAG’s 50 million+ users.
However, like most meme coins, MEME currently has no real use cases other than pure speculation.
This hasn’t stopped retail investors from purchasing MEME tokens and helped its market capitalization reach $61.2 million.
Moreover, MEME has previously demonstrated the ability to generate returns of over 100% in a matter of days. This means it could have the potential for explosive growth once momentum returns.
6. Kok Inu (COQ)
Rounding out our discussion of the best meme coins to buy for 10x profits is Coq Inu (COQ).
Hosted on the Avalanche blockchain, COQ emphasizes fair distribution with no taxes, quotas, or pre-sales.
It has seen incredible growth since launch, with its price rising 321% in the last month alone.
However, COQ still lacks utility. In other words, its value is based purely on speculative demand.
Nonetheless, Coq Inu has established itself as the most talked about meme coin on Avalanche. Once the meme coin craze takes off, it sets the stage for potential 10x profits.