Best meme coins in 2022

Meme coins may be fun and games, but they can also be extremely lucrative. This guide explores the five best meme coins that money can buy right now.
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Updated: Sep 26, 2022

On this page, we have listed the best meme coins that money can buy right now. In addition, we explore meme coins as an investment category, reviewing what they are and their pros and cons. Read on to get started.

What are meme coins and why are they so important?

A meme coin is a cryptocurrency that rises in value quickly due to social media hype rather than the underlying strength of the project it is a native token of. In essence, its fundamental value is not derived in a rational way, with humour and internet culture being key driving factors instead. A meme coin – like a meme stock – draws from jokes and trends within popular culture, and this can include anything including events, images, and passages of text.

Meme coins aren’t important in the traditional sense of the word. They typically do not break new technological ground or innovate to create a solution to a societal problem. Instead, they serve as a representation of the modern retail investor – a completely new way of looking at investing. Many meme coins are charity tokens, which attach themselves to a well-known cause and apportion a chunk of each transaction to a certain initiative.

While the fundamentals of meme coins are far less of a focus than the brand and marketing campaigns surrounding them, some coins do have in-built tokenomic factors or other benefits that give them some degree of value and profitability.

How and where can I buy meme coins now?

Below, we have listed some of the best places to buy meme coins online. Click on the relevant link to sign up, or keep scrolling to learn about the meme coin sector.

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5 easy steps to buy meme coins

The process of purchasing meme coins is quick and simple, so don’t worry, even if you’re new to crypto investing. These are the steps to follow in order to complete your investment:

  1. Choose an exchange. The easiest, fastest and most affordable way to purchase meme coins is through a cryptocurrency exchange. These are platforms that connect crypto buyers with crypto sellers, facilitating swaps. You should choose an exchange with a good track record of reliabilty and a wide variety of supported assets.
  2. Create an account. Once you have chosen the exchange you want to use, it is time to sign up. To create an account, fill out the contact details that are requested from you and send a copy of your photo ID over if needed.
  3. Deposit funds. Now you have an account, you need to fund it to carry out any transactions. This can be done by connecting your crypto wallet to your account.
  4. Purchase meme coins. Now, search for the ticker of the meme coin you want to purchase. For example, if you want some Dogecoin, search for DOGE in the search tab of your chosen exchange.
  5. Execute your order. Once you are happy with the number of coins you want to purchase, the price, and the incurred transaction fees, you can execute your transaction and the crypto should be added to your account almost instantly.

Top 5 meme coins to invest in

We have listed the five best DeFi coins that money can buy right now. Below, our analysts have provided a clear description of their features and what they have to offer for investors. Read on to get started. 

#Coin symbolCoin nameTrade now
1DOGEDogecoin
2SHIBShiba Inu
3ELONDogelon Mars
4SAMOSamoyedcoin
5BabyDogeBaby Doge Coin
List selected by our team of analysts, updated 4th November 2021

1. Dogecoin (DOGE)

Founded in 2013 by software development pair, Billy Markus and Jackson Palmer, Dogecoin is the original meme coin that all others have followed. The cryptocurrency shot to prominence in 2021 following a dramatic price surge after numerous tweets and public statements from Tesla CEO Elon Musk.

Dogecoin is named after the fluffy Shiba Inu meme its brand is based on, which is called Doge. The primary use of the cryptocurrency is for tipping digital content creators, though, in recent years, crypto traders have been increasingly drawn to the coin.

With a large online community, numerous major exchange listings, and superior scalability to both Bitcoin and Ethereum, Dogecoin has become a coin that consistently hovers around the top 10 in terms of market cap, and that is why it is top of our list.

You can find out how to purchase Dogecoin in our guide.

2. Shiba Inu (SHIB)

Another canine-themed cryptocurrency, Shiba Inu was launched in August 2020 by an anonymous person known as Ryoshi. On the Shiba Inu website, the project is described as an ‘experiment in decentralized spontaneous community building.’ The token has also been declared the ‘Dogecoin killer’ by the Shiba Inu developer team. The project’s lofty ambitions couldn’t be clearer.

Following in the footsteps of Dogecoin, Shiba Inu token has managed to latch onto a lot of the meme coin hype driven by Musk. In fact, before his Saturday Night Live TV appearance in 2021, the coin surged in value by more than 300%, demonstrating its potential for lucrative gains.

Running on the Ethereum blockchain, the Shiba token has secured major listings on both Binance and Coinbase. In addition, the project’s very own decentralised exchange (DEX), ShibaSwap, has become a popular place to exchange tokens, stake SHIB coin, and farm for BONES – a new token. With a variety of features and having achieved substantial price accretion, SHIB is well-deserving of a spot on this list.

Find out more about investing in Shiba Inu in our guide.

3. Dogelon Mars (ELON)

Dogelon Mars is a meme coin named after Elon Musk and his mission to take mankind to Mars. When it was launched in April 2021, the coin’s maximum supply of 1 quadrillion ELON coins was distributed – 50% to Ethereum founder, Vitalik Buterin, and 50% locked into the Uniswap liquidity pool. Interestingly, the founder of Dogelon Mars also claims to be called Elon.

Though Dogelon Mars promises aims to create an ‘intergalactic currency,’ this is the sort of vague mission statement that investors and traders have come to expect from meme coins. Moreover, while the project has claimed to be a fork of Dogecoin, little evidence currently exists to document this.

While obvious use cases, tokenomic advantages, and technical innovation aren’t strong suits for ELON, where the project has excelled has been its marketing strategy. Using WhatsApp, Telegram, Twitter and Instagram, the project has managed to establish a 250,000-strong community. Building a strong community is crucial for the success of any meme coin, and it is this impressive number that has secured ELON a place in our top 5.

4. Samoyedcoin (SAMO)

If you prefer Samoyeds to Shiba Inus, SAMO could be the meme coin for you. Samoyedcoin is the meme coin of the Solana blockchain, aiming to be ‘community-owned and fun.’

The coin’s obvious inspiration is Dogecoin, though it opted for a Samoyed because it is the dog breed owned by Solana’s cofounder, Anatoly Yakovenko. Many of the top cryptocurrencies that run on Solana are quite technical, and they don’t appeal to the general population because of this. Samoyedcoin aims to be a more accessible, simpler pathway to entry for investors to get involved in the Solana ecosystem.

Of the 14 billion maximum supply, 2.1% were burnt at launch in April 2021, with a further 64% set to be burnt over 3 events and around 5% already burnt. This means supply should be reduced over time, which could drive the price of SAMO up. It is this key deflationary factor that has allowed Samoyedcoin to find a spot in our list.

5. Baby Doge Coin (BabyDoge)

Launched in June 2021, Baby Doge Coin is aiming to benefit from the Dogecoin brand despite not having any direct affiliation with it. The coin was created by fans within the Dogecoin community, and its stated aims are to improve transaction speeds and increase ‘adorableness.’

BabyDoge has a 5-second block time compared to Dogecoin’s 60 seconds, meaning it is more scalable and gas fees are generally cheap. However, whether BabyDoge can ever truly emerge from under the shadow of DOGE remains to be seen.

Running on the Binance Smart Chain (BSC), Baby Doge Coin is a hyper-deflationary meme coin with an integrated smart staking system. Essentially, what this means is that more BabyDoge is added to each holder’s wallet – specifically, a 5% fee on all transactions over the network – and users can earn more BabyDoge by staking their coins. The unique features, strong brand and price appreciation that BabyDoge has achieved in a short time is impressive, which secures it the final spot on our list.

You can find out more about BabyDoge in our guide.

Before investing in meme coins

Below, we have outlined the main advantages and disadvantages of investing in DeFi tokens

Pros

  • Enormous growth potential
  • Easy to understand and navigate, even for those unfamiliar with crypto
  • Large, passionate and fun communities
  • Topical, trending, and reflective of a new generation of retail investors
  • Able to be easily marketed in a new social media age
  • Backed by some major names, including Elon Musk

Cons

Benefits of investing in meme coins

The potential benefits of investing in meme coins are clear and simple. If you managed to pick the right one and can beat the crowd, colossal gains could be on the cards, more so than pretty much any other financial asset on the market.

Because there are now so many meme coins, it is easy to spread your bet over multiple projects, and given their low initial value, you can quickly and affordably build up a diverse and vast portfolio of meme coins. Moreover, some have interesting tokenomics that can allow you to earn while you hold coins.

Furthermore, meme coins are much easier to understand and – consequently – more appealing for average Joe retail investors. Rather than having to wade through white papers citing the benefits of a project’s consensus mechanism, they can instead focus on a humourous brand and social community.

Risks of investing in meme coins

The risks of investing meme coins are equally overt. For a start, meme coins typically don’t have strong fundamentals, meaning they are solely dependent on market hype to achieve price growth. While this might be fine for the rare few meme coins that achieve mainstream attention, the majority are destined for failure.

Moreover, because of the somewhat facetious nature of many meme coins, some crypto commentators feel they are detrimental to the public reputation of the industry. After all, how can anyone expect the general public to plough their finances into cartoonish currencies?

All in all, the risks for meme coins are more substantial than for nearly any other investable or tradeable asset. They are especially prone to rug pulls and scams, and they are often extremely volatile. However, if you can tolerate this level of risk, the upside potential is unrivalled.

How can I find the best meme prospects?

If you are looking for the best meme coins to add to your portfolio, the typical method of fundamental analysis won’t be especially effective. Instead, you should focus on three things: brand, community, and volume.

With meme coins, building an eye-catching brand that can stand out from the swathe of competition is crucial if a coin is going to climb the rankings. Moreover, a significant community on social media can be a good sign that a coin is set to rise in value when the time is right.

Finally, make sure you keep your eye on the trading volume of meme coins. Often, an increased volume can have something of a snowball effect, creating a rapid surge in the price of your targeted meme coin.

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Charlie Hancox
Financial Writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.