Crypto traders are always on the hunt for the next big thing in the meme coin space.
While seasoned investors tend to scoff at these high-risk assets, meme coins have shown an impressive ability to generate exponential returns for early adopters.
In this article, we’ll highlight five meme coins that could offer 10x gains (or more) before the end of 2024 if bullish conditions materialize.
1. Sponge V2 (SPONGEV2)
The first entry on our list is Sponge V2 (SPONGEV2), an under-the-radar meme coin quietly gaining steam and positioning itself for an explosive 2024.
For those unfamiliar, Sponge V2 is the second iteration of the original Sponge (SPONGE) meme coin that gained popularity among fans of SpongeBob SquarePants.
The original token saw monumental gains in May 2023, reaching a $100 million market cap within days of its Uniswap listing.
Now, the upgraded Sponge V2 token is looking to recapture that same meme coin magic.
By allowing investors to lock up their V1 tokens to receive V2, the project has successfully sparked renewed interest and value.
Over $9.2 million in token value has been staked already, with yields on Polygon currently sitting at a whopping 1,399% per year.
Beyond staking utility, Sponge V2’s developers also have ambitious plans to launch a play-to-earn (P2E) game later this year.
With over 50,000 holders since migrating to Polygon and continued growth on its socials, Sponge V2 could be a meme coin poised for 10x gains in 2024.
Interested investors can buy SPONGEV2 tokens through Uniswap or by heading to the sponge.vip website.
2. Smog (SMOG)
Another meme coin making waves is Smog (SMOG) on the Solana blockchain.
Launched just last week, SMOG exploded onto the scene with an astounding 3,000%+ gain within its first three trading days.
Smog has quickly amassed a fully diluted market cap of over $45 million, with more than 14,600 people now holding the SMOG token.
The token’s creators accomplished this despite minimal marketing, relying primarily on community hype and the buzz around Solana-based meme coins.
Now, the creators are looking to boost interest even more by bridging the token to Ethereum.
By leveraging the power of Wormhole, Smog aims to become a thriving multi-chain project ahead of its highly anticipated airdrop campaign.
Over 10,000 airdrop tasks have already been completed ahead of the official event, showing there’s no shortage of interest from retail investors.
So, although SMOG’s value may have pulled back from last week’s peak, its multi-chain plans and upcoming airdrop indicate it has the potential to explode upwards once more.
Investors can buy SMOG tokens through Solana-based DEXs like Raydium and Orca or by heading straight to the smogtoken.com website.
3. Wen (WEN)
Next up is the super-popular Wen (WEN) token on Solana.
WEN has become one of the most talked-about new meme coin launches, integrating the “wen moon” meme into a cryptocurrency token.
At its core, WEN represents fractionalized ownership of a poem NFT split into one trillion tokens airdropped to one million wallets.
It was the first coin officially launched on Jupiter’s LFG launchpad and has performed impressively in the seven days since.
WEN’s value is up 62% since launching on Jupiter, with the token boasting a 24-hour trading volume of $41 million.
All in all, for those looking to speculate on the next viral meme coin, WEN and its unique approach check many boxes.
4. Coq Inu (COQ)
Coq Inu (COQ) is a meme token hosted on the Avalanche blockchain that now has a market cap of over $139 million.
Riding the wave of interest in animal-themed tokens, Coq Inu features a rooster theme to set itself apart from meme coins based on dogs.
However, the creators admit that it has no intrinsic value and is purely for entertainment rather than investment.
Despite that disclaimer, hype and speculation have pushed COQ’s value up 115% in the past week alone.
More than $11 million worth of COQ has traded hands since yesterday, making it the 13th most-traded meme coin globally.
Although COQ may still be a fraction of the size of Dogecoin (DOGE), its exponential growth suggests that there could be more upside ahead for risk-tolerant investors.
5. Catfish (CATFISH)
Rounding off our list of potential 10x meme coins in 2024 is Catfish (CATFISH).
This brand-new token takes a hilarious approach, branding itself as an antidote to all the hype and false promises that have become part of the meme coin space.
With a maximum supply of one billion tokens and no taxes, the creators aim to let CATFISH rise and fall on the power of its community alone.
So far, the market seems intrigued by CATFISH’s concept, with the token up 311% since its launch yesterday.
CATFISH now has a market cap of $1.3 million, attracting over $7.7 million in spot trading volume.
Despite being the newest meme coin on our list, Catfish has the potential for massive growth if it continues capitalizing on its parody idea.