Memecoin has become a ubiquitous part of cryptocurrency culture and is set to have a huge year in 2024. The total market capitalization of the tokens now stands at more than $60 billion, up from about $23 billion at the start of the year.
Platforms like Solana’s Pump.fun have made memecoin creation easier than ever, and creating tokens for short-lived viral moments has become a cryptocurrency standard.
This year too, many celebrities and public figures launched tokens. But here Cointelegraph is redoing some of the funniest memecoins of 2024.
Fartcoin, not that kind of blockchain gas
Fartcoin (FART) was a latecomer to 2024, appearing in October. It’s literally just a token for a fart joke with absolutely no utility, but that didn’t stop cryptocurrency investors from boosting its value by more than $1 billion in mid-December, reaching a peak of $1.31 billion.
Although its market capitalization has fallen to around $860 million, it is still the largest token on Pump.fun, the platform on which it was first launched.
source: Partcoin
The fart-based coin received a bit of a breeze when it got a shout-out from Stephen Colbert, host of The Late Show with Stephen Colbert on CBS.
Fartcoin has become the latest example of how absurdity sells in the Memecoin space.
woman yelling at cat
A long-running viral meme juxtaposing two images to make it look like a woman is screaming and crying while pointing at a confused cat also became a memecoin this year, imaginatively called WYAC (Woman Yelling At Cat).
The token was launched in June. The Real Housewives of Beverly Hills Star Taylor Armstrong (the woman in the meme, not the cat) almost puts the token in the realm of celebrity memecoins.
According to CoinGecko, on October 21, WYAC reached a peak valuation of just over $52 million, but has now fallen to less than $4 million as of December 31.
WYAC hit more than $52 million on October 21, but has now plummeted. source: CoinGecko
Armstrong’s photo real housewives An episode where the other cast members confront each other about rumors about their ex-husband who committed suicide due to abuse allegations.
Armstrong now appears to be using memes and tokens to raise awareness for domestic violence programs.
Peanut, Eternal Squirrel
Peanut Squirrel (PNUT) is a token for the squirrel of the same name that was euthanized for rabies testing by the New York State Department of Environmental Conservation (NYSDEC) on November 1 after biting an investigating officer. .
The squirrel used to be wild, but since 2017 it has been under the care of amateur porn producer Mark Longo (which is illegal in New York) and has amassed a following on social media.
Online protests began after Peanut was arrested last October and euthanized days later for rabies testing after biting a NYSDEC official. There is no way to test for rabies in live animals.
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PNUT was launched on November 1 and reached a peak market capitalization of $2.27 billion on November 14. It then collapsed, falling below $650 million.
PNUT peaked at $2.27 billion on November 14. source: CoinGecko
Memecoin’s chaotic memecoin aspect of cryptocurrency proves that sheer absurdity can be the driving force of the market, whether the source is a fart or a viral animal.
Fartcoin, WYAC, and PNUT are also examples of how internet culture intersects with financial markets to deliver profitable outcomes for a lucky few at the right time.
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