Best Shiba Inu (SHIB) Alternatives of 2024: Meme Coin In-Depth Review
shiba inu (SHIB) is one of the most popular meme coins in both the cryptocurrency world and the mainstream.
In terms of market cap, it is the second largest meme coin after the beloved dogecoin (DOGE). As this segment of the market continues to expand with a never-ending influx of participants, it’s worth looking at some of the best-known alternatives to SHIB.
This task is challenging because the meme coin market is filled with hundreds of coins that have no purpose other than entertainment/speculation. However, some of these have a strong user base or plan to become a hub for Web3 projects and provide some level of utility for users and merchants on decentralized applications (dApps) to their meme coins.
We’ve rounded up the most popular meme coins of 2024 based on a variety of factors, such as their roadmap, benefits, or just the sheer power of their community.
Best SHIB Alternatives for 2024
Note that this article is not intended to provide financial advice. Investing in cryptocurrencies, especially meme coins, carries potential risks due to their inherent volatility. Always do your own research and consult an expert before investing your own money. Investing in cryptocurrency carries significant risks of financial loss.
Dog Hat (WIF)
WIF is the first dog-themed solana meme coin. It caught the attention of altcoin traders and pushed the meme coin narrative on Solana to the fore.
As the name suggests, the coin features a dog wearing a pink hat. It has simple tokenomics, and like other internet-inspired meme coins, its value is determined by its community and large follower base.
Its success inspired similar meme coins in Solana.
WIF is of no use. The website describes him as “just a dog with a hat.” This did not stop investors from pushing its price to new highs and turning it into one of the best performing meme coins in 2024.
Despite its inconvenience, WIF has a strong user base. Token holders even launched a funding campaign to feature the dog hat ICON at the Sphere, Las Vegas’ popular entertainment arena.
Source: CoinGecko
Key features and facts about WIF (as of March 2024):
Benefit: no clear benefit. There is no roadmap, no writing mechanism, and no DeFi. It is for entertainment purposes only.
tokenomics:
- Maximum supply: 998 million
- Total supply: 998 million
- Circulating supply: 998 million
- Market value: $2.6 billion
Bonk (BONK) is a popular meme coin inspired by Dogecoin. It also adopts a Shiba Inu as its mascot and symbol.
Unlike other meme coins, BONK has taken a community-centric approach rather than opting for an initial coin offering (ICO) or pre-sale during its December 2022 launch. It rewarded those who contributed to the expansion of the network by distributing 50% of its total supply to active members of the Solana community via an airdrop.
Source: CoinGecko
Key features and facts about BONK
Benefit: According to the project’s whitepaper, BONK aims to provide integration between dApps on Solana and become the most popular meme coin on the network by acting as an incentive for user participation.
Community-oriented approach: no presale – distributed via an airdrop to Solana community members.
BONK Tokenomics (as of March 2024):
- Maximum supply: 93.52 trillion
- Circulating supply: 65.82 trillion
- Market value: $1.69 billion
FLOKI is the utility token of the Floki ecosystem. It is built on the Ethereum blockchain but is also BEP-20 compliant. This means that users can exchange FLOKI tokens at a 1:1 ratio on the ETH-BSC bridge.
FLOKI describes itself as “The People’s Crypto” and emphasizes its vision as a movement dedicated to the Web3 space and more than just a dog-themed coin.
Unlike other meme coins, FLOKI focuses on being a hub for web3 enthusiasts.
FLOKI has several main projects that provide practical applications for the FLOKI token: Valhalla for gaming metadatabase, FlokiFi for decentralized finance, FlokiPlaces for NFTs and trading products, and Floki University for education and more.
Source: Floki.com
Key features and facts about FLOKI:
Benefit: Main currency and incentive for Floki ecosystem and projects
tokenomics (as of March 2024):
- Maximum supply: 10 trillion
- Total supply: 10 trillion
- Circulating supply: 9.7 trillion
- Market value: $2.4 billion
PEPE is an Ethereum-based meme coin. Like Dogecoin, it was inspired by Pepe the Frog, one of the oldest memes on the internet.
Launched in April 2023, the cryptocurrency quickly gained traction and reached the top 100 cryptocurrency rankings within two weeks. However, PEPE has no intrinsic value and serves no purpose other than speculation, making it one of the most volatile cryptocurrencies on the market.
It is mostly driven by its online community and meme culture. Moreover, although its founder is anonymous, PEPE is one of the most active projects on social media, with nearly 650 thousand followers on X (formerly Twitter).
As of March 2023, PEPE ranks third in the meme coin rankings with a market capitalization of over $3.5 billion.
Source: CoinGecko
Key features and facts about PEPE (as of March 2024):
Benefit: No benefits, no clear roadmap and no official team. The project’s website clearly states that PEPE’s focus is primarily on entertainment and capitalization in the meme money market.
tokenomics:
- Total supply: 420 trillion
- Maximum supply: 420 trillion
- Circulating supply: 420 trillion
- Market value. $3.5 billion
The list wouldn’t be complete without DOGE, the father of all meme coins. Launched in 2013 as a satirical joke about cryptocurrencies, DOGE has garnered a large following and support from celebrities like Elon Musk.
While other meme coins are experiencing bigger action in the first three months of 2024, DOGE remains the largest meme coin with a broad market cap of over $25 billion.
DOGE peaked in May 2021, reaching a market cap of over $85 billion at an all-time high of $0.75. This means DOGE still has a lot of room to grow. She is currently the biggest meme coin in terms of popularity and has over three million followers on X.
Key features and facts about DOGE:
Benefit: no use, no roadmap.
tokenomics:
- No maximum feed
- Total supply: 143 billion
- Circulating supply: 143 billion
- Market value: $25.6 billion
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