Memecoins have emerged as hot properties in the crypto industry this year, with dozens of new tokens capturing the imagination of the community
Unlike traditional cryptocurrencies, which are designed to solve complex problems, memecoins have no such utility, relying on their humorous branding and viral appeal to ignite enthusiasm among investors and crypto natives.
The craze around memecoins has been seen as a sign of broader interest in the benefits of blockchain and decentralized technologies. But there has been a lot of debate about the merits of these tokens, with critics arguing that their lack of utility means they are entirely speculative assets.
While memecoins can explode in value, there is also a very real risk that they’ll quickly collapse once their appeal wears off. Still, there are reasons to think some memecoins will have more staying power, with many of these projects evolving to provide utility that can ensure their long-term viability and success.
One of the best examples of this is Dogecoin, which kicked off the entire memecoin movement as a joke, and has grown to become one of the cryptosphere’s favorite tokens for charitable donations, as well as a viable method of payment at numerous global brands. Meanwhile, Shiba Inu has developed a fully homomorphic encryption platform with Zama.ai to enable private payments.
These days, a number of up-and-coming memecoins are getting serious about having a lasting impact on the crypto world, and they have come up with some compelling use cases that might help them remain relevant for years to come. So let’s take a look at some of the more promising ones.
As the name suggests, WOMIO wants to revolutionize the world of memecoins by creating an ecosystem that enables anyone to launch their own multichain memecoin and build a community around it.
It’s targeting memecoin creators who are serious about providing genuine utility with their tokens, as opposed to degens who just want to mess around. To do this, its ecosystem has expanded to integrate aspects like staking, investment, discussion and social media promotion into its platform. Its multichain support is a key feature too, because it means creators can deploy their tokens on several blockchains, enhancing their flexibility and reach.
To encourage creators to build memecoins with genuine utility, WOMIO is leading by example with staking at its core. Each memecoin project that launches on WOMIO’s platform will pay a 1.25% fee that will be distributed to WOMIO stakers. This provides users with a strong incentive to hold and stake WOMIO, as the platform has already gotten a lot of interest from crypto creators even prior to its launch. In addition to its memecoin creation platform, WOMIO will also provide comprehensive analytics, with research tools, charts and discussions about the latest trends in the industry.
WOMIO launched its token presale in August, with 35% of its total supply set aside for that purpose. Another 25% is reserved for boosting crypto exchange liquidity and trading, with 20% for community bounties, 10% for marketing purposes and 10% for early adopters.
Ultimately, WOMIO’s vision is to redefine memecoins with an ecosystem that bundles creation, innovation and community, and in effect become the de facto platform for any creator wanting to launch their own digital asset.
Another project that’s aiming to boost the overall memecoin ecosystem, KIBA is building a decentralized exchange platform for memecoins complete with an array of pro trading features such as its token tracker, blockchain bridge and honeypot checker.
KIBA’s stated goal is to restore integrity in memecoins by creating the safest DEX and launchpad specifically for these tokens. It aims to capitalize on the fun and the growth of memecoins, while helping investors avoid the numerous pitfalls that plague the industry, including fake tokens and scams.
The Kiba Swap platform is KIBA’s main DEX offering, and it has quickly emerged as one of the top platforms for trading memecoins thanks to its multichain support, residing on Ethereum and the Binance Smart Chain networks. Interoperability between those chains is established by Kiba Bridge, enabling users to swap tokens across them with nothing but a couple of clicks. Among KIBA Swap’s many features are a portfolio tracker tool, a token tracker, launchpad services and more.
The standout feature of KIBA Swap is the Kiba Honeypot Checker, which helps users to spot so-called “honeypots”, or malicious smart contracts used by hackers. Honeypot scams aim to deceive investors and steal their funds, and often involve the creation of fake projects or tokens that promise high returns, in order to tempt investors to deposit funds in a smart contract. With its Honeypot Checker, KIBA aims to prevent investors from falling for such dirty tricks.
Another innovative memecoin project is BOME, which is building what it hopes will become the most comprehensive library of digital memes on the internet, supported by its native token.
BOME launched its token in March 2024, raising over 10,000 SOL tokens to achieve a market capitalization of over $1 billion within days. Its launch coincided with the release of its permanent repository of meme culture that lives on the blockchain, complete with tools for creating and sharing new memes, plus a thriving community of meme lovers to help spread the love. Since launching, its platform has already been used to create a number of viral memes
One of the reasons for BOME’s success is not just the popularity of meme culture, but also its smart strategy of listing on prominent cryptocurrency exchanges like Binance, Gate.io, Bybit and HTX. In addition, the BOME token is also available on popular Solana-based DEXs like Jupiter and Raydium.
CHMPZ calls itself a crypto sustainability project, and it’s leveraging its memecoin to try and help critically endangered animals and protect their ecological habitats. The concept has attracted huge interest in a crypto industry that already has a reputation for focusing on good causes, selling all of its tokens within days of the launch of its presale in February.
To raise funds for wildlife conservation, CHMPZ has created an ecosystem based around a DEX platform, NFT minting, a merchandise store and a play-to-earn game called “Zero Tolerance”, giving users the opportunity to earn rewards while giving back. CHMPZ donates a share of the revenue it earns to organizations such as the WILD Foundation, One Tree Planted and Forgotten Animals, among others.
To date, CHMPZ says it has already helped to plant more than 1,000 trees as part of an ongoing project to restore a rainforest, while donating over $15,000 to the WILD Foundation to help protect the world’s last remaining herds of elephants that live in desert habitats.
Memecoins have emerged as one of the most vibrant and dynamic landscapes within the crypto industry this year, and as the space evolves, it’s beginning to take on more responsibility. Gone are the days when memecoins were simply created for giggles. These days, a growing number of such projects are showcasing the innovative potential of blockchain and decentralization, while simultaneously promoting internet culture.
As more memecoin projects with genuine utility emerge, such tokens are becoming less speculative in nature, and instead giving rise to powerful new applications that drive real value while encouraging playful community interactions.
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