Meme coins are back, reignited by a surge in Solana ecosystem tokens that have seen massive success in the past year. In 2024, POPCAT led the pack, gaining over 20,000%, while Ethereum-based MOG Coin gained nearly 5,000%.
However, investors are still bullish on two of the more seasoned memecoins—Shiba Inu and Floki—while the new utility-led project Yeti Ouro is grabbing their attention as the next potential 100X meme coin.
Shiba Inu Retains Investor Interest
It was once only seen as Dogecoin’s little brother, but those days are in the rearview mirror for Shiba Inu. The meme coin, which launched in 2020, has become a mainstay in the crypto ecosystem, and today, its $15 billion market cap has cemented its place in the top 20 cryptocurrency projects.
Shiba Inu has had a bumpy year. It started the year below $0.00008 and remained subdued up until March when the broader market bull run pushed it to a two-year high of $0.000036. However, the momentum faded shortly thereafter and it has been on a downtrend since, up until Donald Trump’s victory gave the market a much-needed push last week. It now trades just above $0.000025.
According to one analyst, if it holds above $0.00002, the meme coin could establish solid support and retest previous highs.
Yeti Ouro Captures Investor Interest
Savvy investors always identify the next big thing before the rest of the market and make a killing from it. This year, the project on investors’ radar is Yeti Ouro (YETIO), a memecoin that relies on utility for long-term sustainability.
Yeti Ouro is a new coin deployed on the secure and trusted Ethereum blockchain that marches the easygoing nature of crypto with the adrenaline of gaming.
Gaming is one of the highest-potential applications of blockchain technology. Yeti Ouro is tapping into this GameFi sector with Yeti Go, its explosive new play-to-earn (P2E) game that thrills and rewards. Built using Epic Games’ ubiquitous Unreal Engine, Yeti Go offers players a fast-paced racing environment where the goal is to outwit their opponents while dodging hazards and obstacles. Yeti Go aims to appeal to newbies who want to enjoy the thrill as well as ultra-competitive seasoned players.
The Yeti Go gaming ecosystem is anchored by YETIO. Players get to make purchases in-game and trade their skins, features and customisations on a player marketplace using YETIO, which drives up authentic demand and liquidity for the token. They also pay to enter new races and earn rewards for their victories in the YETIO token.
To further boost its long-term prospects, Yeti Ouro’s supply is capped at one billion tokens, unlike other memecoins whose supply is their biggest headwind, like Shiba Inu’s 589 trillion maximum supply. 50% of this supply has been allocated to a presale, which has already raised $260,000 in days.
Floki—From Musk’s Dog To $1.66 Billion Meme Coin
Floki is one of the many meme coins angled towards Tesla and SpaceX CEO Elon Musk. Launched in June 2021, it’s named after his dog. However, while its origin may have been merely for fun and jest, it has risen to become one of the most popular meme coins.
Floki commands a $1.67 billion market cap, outpacing more established projects like Maker and Algorand. This year, it hit its heights in June, trading at $0.0003202, but it has shed over half of this value in the four months since.
The meme coin has reversed its fortunes in the market bull run that was sparked by US elections. In the past week alone, it has gained 43% to bring its gains this year to 390%, twice as much as Shiba Inu and Dogecoin.
Conclusion
Investors are still highly interested in meme coins, which have traditionally had the highest gains in the crypto sector. While some are betting on the seasoned Shiba Inu, others are placing their money on Floki, a fun meme coin named after Elon Musk’s dog. However, savvy investors are looking ahead and investing in the next 100X meme coin, Yeti Ouro, which combines the fun of meme coins with play-to-earn gaming, making it one of the few meme coins with utility and boosting its long-term prospects.
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