Ameme coin (also spelledmemecoin) is acryptocurrency that originated from aninternet meme or has some other humorous characteristic.[1]
The term is sometimes used interchangeably with the termshitcoin, which typically refers to a cryptocurrency with little to no value, authenticity, or utility.[2] It may be used in the broadest sense as a critique of the cryptocurrency market in its entirety — those based on particular memes such asDogecoin, celebrities likeCoinye, andpump-and-dump schemes such asBitConnect — or it may be used to make cryptocurrency more accessible.[3]
Meme coins derive their price primarily from social media momentum and celebrity association.[4] Their prices can skyrocket rapidly as new investors, drawn byviral attention orfear of missing out (FOMO), pour in funds. However, this growth is typicallyunsustainable, as the price depends heavily on a continuous influx of new buyers. When interest wanes or new investment slows, meme coins frequently experience sharp collapses, as there is little fundamental value to support theirmarket capitalization, much like howPonzi schemes rely on new capital to pay returns to earlier investors.[5]
The term is often used dismissively, comparing the value or performance of those cryptocurrencies to that of mainstreamdigital assets. Supporters, on the other hand, observe that some memecoins have acquiredsocial currency and highmarket capitalizations.[3]
In late 2013,Dogecoin was released after being created as a joke on theDoge meme bysoftware engineers. This sparked the creation of more meme coins. In October 2021, there were 124 meme coins circulating. Notable examples include Dogecoin andShiba Inu.[3]
In early 2021,Thailand's Securities and Exchange Commission banned meme coins as part of a crackdown on digital goods with "no clear objective or substance".[6] In late 2021, advertisements promoting the meme coin Floki Inu in London led to investigations around promoting the meme coin, considered to be an unregulated financial product by the United KingdomAdvertising Standards Authority (ASA).[7]
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Meme coins increased in popularity in 2021 and 2022 whenElon Musk endorsedDogecoin, one of the first meme coins.[9] He posted several tweets about the coin, including saying thatTesla-branded merchandise could be purchased with Dogecoin.[10][11] Musk was sued by investors who accused him of using Dogecoin as an unregisteredsecurity to operate apyramid scheme.[12][13]
Meme coins have seen a resurgence followingDonald Trump's victory in the2024 United States presidential election.[14] One such example is Fartcoin, whose valuation briefly surpassed $2 billion.[15][16][17] Trump himself launched the meme coin$Trump three days beforehis second inauguration.[18][19]
In February 2025, thePresident of the Central African Republic,Faustin-Archange Touadéra, announced a national memecoin, $CAR, on his officialX account.[20] Soon after its launch, the project's X account was suspended amid questions about its legitimacy and because the announcement video had previously been flagged as adeepfake.[20] Despite continued promotion from Touadéra via his verified X account, the value of $CAR dropped by 95% on February 11—just one day after trading began.[20]
In December 2024,Haliey Welch, who became viral online for the "hawk tuah" meme, issued$HAWK and it reached a peak of $490 million before plummeting to $25 million. She was accused of promoting a pump-and-dump as well as engaging in arug pull scheme andinsider trading.[21]
During the memecoin frenzy of early 2025, hackers hijacked verified government X accounts, including those of theCuban government, formerMalaysian PMMahathir Mohamad, andBihar's Water Resource Department, to promote fraudulent memecoins like "CUBA" and "MALAYSIA" on platforms likePump.fun. These tokens surged before crashing, with CUBA's volume dropping from $158.7M to $4.3M and MALAYSIA's rug pull draining $1.7M. TheCatholic News Agency andGerman President'sFrank-Walter Steinmeier's accounts were also compromised to push similar scams by repurposing them toimpersonate various figures promoting tokens.[22][23][24]
On 15 April 2025, hackers compromised UK Government MinisterLucy Powell's verified X account to promote a fraudulent "House of Commons" cryptocurrency ($HCC), using deleted posts with theHouse of Commons logo to tout it as a "community-driven digital currency."[25]
In January 2025, three USasset managers set out to launchexchange-traded funds investing in meme coins linked to Trump and Musk.[26]
Commentators have compared meme coins with the speculative frenzy and collapse of theNFT market in 2022. American investor David Einhorn stated that, "We have reached the 'Fartcoin' stage of the market cycle ... Other than trading and speculation, it serves no other obvious purpose and fulfills no need that is not served elsewhere."[27] In February, more than 700 different copycat and spam coins were sent to Trump'sdigital wallet by people apparently seeking to falsely suggest they had his endorsement.[28]
| Coin name | Ticker | Year launched | Named after | Blockchain | Peak market cap (US$) | Notes |
|---|---|---|---|---|---|---|
| Dogecoin | DOGE | 2013 | Doge | Dogecoin | ~US$88 billion | Created as a satirical critique of the 2013 cryptocurrency boom and later boosted by celebrity promotion (notably Elon Musk).[29] Musk-related posts were associated with surges in trading and price.[30] In November 2024, Dogecoin spiked after Trump announced a "Department of Government Efficiency" (DOGE).[31][32] |
| Shiba Inu | SHIB | 2020 | Shiba Inu | Ethereum | ~US$43 billion | Ethereum-based meme coin created in August 2020[32] |
| Floki Inu | FLOKI | 2021 | A dog owned byElon Musk | BNB Chain | US$2.3 billion | Dog-themed memecoin inspired by Musk'sShiba Inu dog "Floki", it was launched in June 2021.[33] In 2022, theAdvertising Standards Authority banned the advertisement of token in the UK.[34][35] |
| Baby Doge Coin | BABYDOGE | 2021 | A variant ofDoge | BNB Chain | ~US$1 billion | Dog-themed memecoin launched in 2021 as a variant ofDogecoin.[36][37] It drew widespread attention afterElon Musk tweeted about it.[38][37] |
| Bonk | BONK | 2022 | Bonk Meme | Solana | ~US$3 billion | Solana dog-themed memecoin launched December 2022. Reported market cap around US$3 billion during late-2024 memecoin rally; described as created after the collapse of FTX to cheer up Solana traders.[39] |
| Pepe | PEPE | 2023 | Pepe the Frog | Ethereum | ~US$11.37 billion | Memecoin referencingPepe the Frog; launched in April 2023.[32] |
| dogwifhat | WIF | 2023 | Dog | Solana | ~$4.84 billion | Launched during the memecoin boom in late 2023 as a dog-themed token, Dogwifhat drew widespread attention after Stratos, a firm based inNewport Beach, California, launched a liquid fund that held the token as an investment.[40] |
| Peanut the Squirrel | PNUT | 2024 | Peanut | Solana | ~US$1.2 billion | Solana-based token inspired by "Peanut" (an orphaned squirrel euthanised by New York State authorities), it was launched during the memecoin boom after the 2024 U.S. election.[39] |
| Pudgy Penguins | PENGU | 2024 | Pudgy Penguins | Solana | ~US$2.9 billion | Launched on Solana on 17 December 2024. In 2025, an ETF proposal linked to the Pengu token and Pudgy Penguins NFTs was filed.[41] |
| Fartcoin | FARTCOIN | 2024 | Fart | Solana | US$2.3 billion | Started trading in late October 2024 and was reported at nearly a US$800 million market cap by mid-December 2024.[42][15][17]The Guardian reported a peak market capitalisation of more than US$2.3 billion.[43] |
| Official Trump | TRUMP | 2025 | Donald Trump | Solana | ~US$14.5 billion | Launched by Donald Trump on January 17, 2025; Reuters reported a peak market value over US$14.5 billion by January 19, 2025, followed by a large decline.[44] The launch and subsequent losses were widely reported and scrutinized.[45][32] |
| Melania Meme | MELANIA | 2025 | Melania Trump | Solana | ~US$2.2 billion | Launched January 19, 2025 by Melania Trump.[46] Reported market cap around US$2.2 billion shortly after launch.[47] Bloomberg reported the coin was down about 90% from its peak by February 6, 2025.[48][32] |
| $CAR | CAR | 2025 | Central African Republic | Solana | ~US$600 million | Announced February 10, 2025 by theCentral African Republic's presidentFaustin-Archange Touadera as an "experiment" in national development.[49] |
| $LIBRA | LIBRA | 2025 | Viva La Libertad | Solana | ~US$4.5 billion | Promoted by Argentine presidentJavier Milei beginning February 14, 2025; the launch drew controversy and legal scrutiny after a rapid collapse in value.[50][51] Reuters cited researchers describing a peak valuation around US$4.5 billion before it crashed.[52] |