Memecoins are a new cryptocurrency sensation representing a merger between internet memes and crypto tokens. Accordingly, they are transacted using blockchains like Solana, Ethereum and others.
Notably, Avalanche memecoins were launched to provide better transaction speeds at cheaper costs than on other blockchains. Following the speculative and volatile nature of memecoins, Avalanche also allows for customizability and scalability.
And with the surge in memecoin trading, users need to know the top memecoins by performance and market capitalization. In this piece, we’ll explore the top 5 memecoins on Avalanche in 2024. So, let’s dive in!
The Top 5 Memecoins on Avalanche in 2024 Are:
#1. Coq Inu
Coq Inu ($COQ) is one of the top 5 memecoins built on the Avalanche (AVAX) blockchain with a max supply of over 69 trillion tokens. Markedly, it ranks so due to its community-driven model and liquidity supply on the AVAX blockchain.
Notably, Coq Inu has recorded a highest market cap of about $400 million since its launch. Also, major exchanges like Kucoin, Bybit, MEXC and Trader Joe have listed the memecoin. There’s room for improvement for Coq Inu and potential listing on top exchanges like Binance.
#2. ShibaVax
ShibaVax memecoin was inspired by Shiba Inu. $SHIBX tokens incorporate Avalanche’s features and the uniqueness of decentralized finance. Notably, ShibaVax grants an automatic reward of 10% on every $SHIBX transaction to the token’s holders.
Accordingly, this allows $SHIBX holders to earn more tokens passively. With an all-time highest market capitalization of about $1.2 million, the project has attracted lots of attention. In addition, platforms like Trade Joe and Pangolin have listed $SHIBX.
#3. Kimbo
Kimbo ($KIMBO) is another AVAX dog-themed memecoin seeking to grow the largest community in the Avalanche ecosystem. Already, the project has garnered thousands of followers on platforms like X, Discord, Telegram and Instagram.
Launched in December 2023, Kimbo records a highest market cap of about $17 million. Meanwhile, the memecoin is available on LBank, Trader Joe and some DEXs. Major CEXs listing $KIMBO will skyrocket the memecoin’s value.
Noteworthy is that the project started an NFT series collection titled “KIMBRO” with one digital art going for 1.5 $AVAX. Interestingly, Avalanche’s Culture Catalyst Fund supports Kimbo.
#4. Tech Improving
Tech Improving ($TECH) built on AVAX also incorporates a community-based model like Coq Inu emphasizing decentralized governance, community engagement and innovation. Overall, the project has a total supply of over 69 billion $TECH tokens with more than 90% in the liquidity pool.
Noteworthy is the automatic burn feature of 2% of all $TECH transactions to reduce the token’s supply (deflationary technique). Tech Improving also has a collection of NFTs.
#5. Gecko Inu
This gecko-themed AVAX memecoin promises great potential to investors. In contrast, $GEC has intrinsic value unlike other memecoins and has more features like staking options.
The token has a market cap of about $5 million while promising to surge based on future demand. The project also spots NFTs marketing and has applications in gaming and the metaverse.
In Conclusion
The memecoins industry keeps changing with AVAX growing as the preferred blockchain for most new projects owing to fast speeds at low costs. Like any other investment, start with only what you can lose after carefully researching each memecoin.