The cyclical nature of the blockchain has been fully visible lately. While in the past market changes may have been driven by generative avatars, major innovations, or even catastrophic events, the recent resurgence of memecoins has led to a major shift in day-to-day activities for those in the NFT space.
In early 2023, open editions appeared to be the savior of a declining NFT market. But now memecoins trading volume continues to far exceed that of NFTs. Likewise, the number of crypto enthusiasts owning memecoins has continued to hit new all-time highs month after month.
This feverish trade may spark nostalgia among those who joined the 2021 “shitcoin” wave, but things seem to be a little different this memecoin season. $PEPE, the Pepe the Frog-inspired coin, is taking center stage as the king of memecoin mania of 2023, but there are many more dominating the charts.
So let’s take a look at some of the best memecoins on the market.
What are the most popular memecoins?
Pepe
Unequivocally the most popular memecoin of the 2023 season, $PEPE is credited as leading the memecoin resurgence. Created by an anonymous team of developers, $PEPE reached a market cap of $1 billion and entered the crypto market’s top 100 cryptocurrencies three weeks after its launch. While traders and exchanges alike have quickly adopted $PEPE as a facet of the crypto ecosystem, some remain wary that the coin’s IP address lead to legal problems along the line.
turbo
$TURBO is a coin created as both an experiment and a piece of performance art by Sotheby’s selling OG crypto artist Rhett Mankind. Mankind created the coin on a budget of $69 and no significant prior experience. He just asked ChatGPT to do it for him. He documented the entire process through his Twitter, even asking his followers for help with decisions along the way. $TURBO has since grown to a market cap of over $50 million.
Good Gensler
$GENSLR, also known as Good Gensler, is a memecoin based on a parody of SEC Chairman Gary Gensler. Since (the real) Gensler is known for being a bit of an adversary to crypto and NFTs, Good Gensler exists as its antithesis. The Good Gensler character, who serves as $GENSLR’s visual representation, is said to be the “founder of the Intergalactic Crypto Defense League (ICDL) and a champion of crypto” who came to Earth to defeat his doppelgänger.
Mong
$MONG, or MongCoin, is a memecoin related to the existing Mongs NFT collection launched in January 2022. The original concept of the Mongs ecosystem can be traced back to a joke by Democratic Congressman Brad Sherman about a fictional “mongoose coin”. .” The Mongs community had started the joke and launched $MONG to reward its NFT holders and provide the larger NFT space with a “meme coin that the community always deserved”.
Wojak
$WOJAK is a memecoin based on a historical meme called Wojak, also known as “Feels Guy”. Dating back to 2010, the meme features a black-outlined cartoon of a bald man whose many expressions are interchangeable and used in various meme formats. Wojak has become especially popular in the crypto and NFT space, and $WOJAK is just another evolution of the meme that has been shared within various blockchain communities for years.
Jeff
$JEFF is a memecoin also based on the Wojak meme but with a twist. Instead of using the original Wojak meme, Jeff is based on the McDonalds version which is often spread as a sort of self-deprecating inside joke between crypto and NFT traders when prices crash. Jeff (Mcdonald’s Wojak’s character) is said to be “an average guy who works at McDonald’s”, hoping to take a risk and make some money by launching his own token.
capybara
$CAPY, or Capybara Coin, is a community-driven token created to be “the next top memecoin”. Guided by the slogan “come to explain in a pinch”, $CAPY uses a Capybara as its mascot and often shares Capybara memes as part of its social media branding. Going forward, the creators of $CAPY have said they plan to donate money to charities and organizations (such as zoos) that support capybaras.
Rizz
$RIZZ is a memecoin said to be the “ultimate cultural ecosystem built on top of Ethereum”. A play on the term “rizz” (which is short for charisma), the token is described by its creators as a “cultural work of art” based on “fun and entertainment” that will evolve into a decentralized lending market, yield farm, chain analysis tools and more.
Four
$FOUR, or FourCoin, is a memecoin that is probably based on a large number of memes in which people, animals and characters stand four fingers while posing for a photo. While little information is known about the token or roadmap, its popularity has solidified thanks to an event where a trader spent 64 ETH (approximately $120,000). to transaction costs to buy $13.7 billion FOUR.
Guac
$GUAC, or Guacamole, is a memecoin said to be “for the people, for the memes, for the toast and chips”. The coin features striking green and guacamole themed branding and, unlike the other memecoins on this list, is based on the Solana blockchain. $GUAC is credited with the rise of Solana memecoins and is considered the most successful memecoin on Solana. The official Twitter also posts regularly transparency reports to keep holders and community members updated on everything that is happening.