MEXC Research has released a year-end report spotlighting its Top 10 memecoins to watch in 2024, arguing that the sector has evolved far beyond internet jokes and become one of the fastest-moving segments of the crypto market. According to the report, memecoins gained traction this year through a combination of strong communities, viral social media dynamics, and increasingly distinctive narratives that tied together culture, identity, and speculation.
The exchange said it has become an early venue for a number of memecoin launches, and the projects highlighted in the report were ranked by a mix of market heat and peak annual price appreciation. The list includes NEIROCTO, PNUT, ACT, BOME, MOODENG, FWOG, MOG, POPCAT, CHILLGUY, and LUCE.
From pure jokes to community-led narratives
One of the report’s central themes is that memecoins are no longer being defined solely by humor. While the category still depends heavily on internet culture and attention cycles, MEXC argues that several projects are trying to anchor themselves in broader stories, causes, or digital identities.
PNUT, for example, is described as a Solana-based memecoin inspired by a squirrel named Peanut. The animal drew public attention after being euthanized by environmental authorities over illegal wildlife possession. In MEXC’s framing, the token became both a tribute and a commentary that touched on animal protection and immigration policy discussions. That gives the project a more layered narrative than a standard meme token.
ACT is another case the report uses to show how the category is stretching. Rather than being presented as a purely comedic coin, ACT is positioned as an “AI + Crypto” token that blends artificial intelligence and cryptocurrency themes. MEXC says its value proposition goes beyond conventional memecoin branding and includes efforts to promote AI literacy, allowing it to sit at the intersection of two of the market’s most attention-heavy sectors.
The report also cites CoinTelegraph as saying that by 2024, memecoins had become the fastest-growing segment in crypto, with top performers delivering an average return of +1300%. That figure helps explain why the category remained central to retail speculation throughout the year.
The power of community and social distribution
MEXC emphasizes that the category continues to thrive because of deeply engaged communities. In memecoin markets, price action is often inseparable from community behavior: online forums, social platforms, influencer endorsements, and viral images can all function as distribution engines. The report specifically points to projects such as NEIRO, PNUT, and ACT as examples of tokens that benefited from online communities rallying around them.
This social layer is one of the defining features of memecoins. A token’s success may depend less on a traditional product roadmap and more on whether it can create recognizable identity, maintain attention, and transform internet energy into sustained on-chain demand. That dynamic has made memecoins one of the most speculative corners of the digital asset market, but also one of the most effective at attracting new users.
MEXC’s top 10 memecoins in 2024
NEIROCTO is presented as a community-driven memecoin inspired by Dogecoin and Kabosu’s rescue dog. MEXC describes it as a standout in the recent bull market and suggests that it gained additional recognition after first listing on MEXC and later appearing on Binance, where its market capitalization climbed sharply.
PNUT, built on Solana, drew strength from its emotionally charged backstory and animal-themed branding. MEXC says that after its initial listing on the exchange, the subsequent Binance listing helped generate substantial momentum and pushed it into the ranks of the more prominent animal-themed memecoins of the year.
ACT is framed as one of the market’s notable AI-themed tokens. According to the report, after listing early on MEXC and later on Binance, its market capitalization rose quickly into the hundreds of millions of dollars, signaling strong investor demand for tokens linked to AI narratives.
BOME, or BOOK OF MEME, launched on March 10, 2024 and was one of the most eye-catching projects in the report. MEXC says the token surged by 3000% within days of launch. Created by Darkfarms, known as the artist behind the well-known Pepe memes, BOME seeks to build a permanent digital archive for meme culture using decentralized storage technologies such as Arweave and IPFS.
MOODENG is a community-driven memecoin inspired by “Moo Deng,” a famous pygmy hippopotamus from a Thai zoo. The report says the project aimed to bring new users into crypto through a friendly mascot and active community engagement. MEXC states that after recognizing its potential and listing it early, the token went on to post a price surge of up to 6900%.
FWOG was among the strongest performers by peak return. The Solana-based frog-themed token emerged from a rebrand of Flog (FLOG), including changes to logo and visual identity. After listing on MEXC, its market capitalization climbed to around $700 million, while its peak gain reached an impressive 10,033%, making it the highest percentage gainer mentioned in the report.
MOG is described as both the “first cat coin” and the “first culture coin,” with a philosophy centered around “mogging,” or achieving dominance and “winning” in all pursuits. MEXC says it supported the token early and that it eventually recorded a peak gain of 4950%.
POPCAT draws from a widely recognized mischievous cat meme known for its open-mouth expression. The project is presented as a fusion of viral internet culture and the expanding crypto ecosystem. According to MEXC, the exchange listed POPCAT early and the token later delivered a peak gain of 4100%.
CHILLGUY is a Solana-based meme token created in 2023 by artist Phillip Banks. The character, wearing a hoodie, jeans, and sneakers, became especially popular on TikTok among Gen Z audiences. MEXC says the token captured a “chill and laid-back” lifestyle narrative and, after early listing, reached a peak gain of 831%.
LUCE is another Solana-based memecoin, inspired by the mascot created for the Vatican’s 2025 Jubilee Year. The name means “light” in Italian. MEXC notes that it listed LUCE early and that the token later achieved a peak gain of 3340%.
Why memecoins kept outperforming
The report’s broader takeaway is that memecoin success in 2024 came from the convergence of multiple forces. First, the sector benefited from rapid narrative formation: projects linked to recognizable animals, internet icons, or emotionally resonant stories could capture attention quickly. Second, the category remained highly compatible with social media algorithms, where short-form content and meme-driven branding can accelerate discovery. Third, exchange listings played a significant role in amplifying visibility and liquidity.
MEXC repeatedly frames itself as an early listing venue for several of the projects discussed, and in a number of cases the report points to later listings on larger platforms such as Binance as catalysts for further market expansion. That pattern reflects a familiar structure in speculative crypto markets: early exchange support can help establish initial traction, while subsequent broader distribution can trigger another wave of interest.
High upside, but still a speculative market
Despite the striking performance numbers, the report also delivers a clear warning. MEXC says memecoins are often treated as speculative investments driven primarily by sentiment, social media trends, and shifting crowd attention. That makes them attractive to traders looking for high-risk, high-reward opportunities, but it also means prices can be extremely volatile and vulnerable to sudden reversals.
In practice, that volatility can be shaped by changing online narratives, media attention, and the willingness of communities to keep momentum alive. A meme token can appreciate sharply on listings, virality, or celebrity mention, then retrace just as quickly when enthusiasm fades. For that reason, the report notes that investors should remain cautious when approaching the sector.
MEXC closes with an explicit disclaimer that the publication does not constitute investment, tax, legal, financial, or accounting advice, and should not be interpreted as a recommendation to buy, sell, or hold any asset. The exchange says the information is provided for reference only and urges users to understand the risks before making any investment decision.
Taken together, the report presents 2024 as a year in which memecoins matured into a more complex market category: still driven by humor and hype, but increasingly shaped by community coordination, narrative design, and cultural relevance. The performance numbers listed by MEXC show why the segment remained impossible to ignore—yet the disclaimer serves as a reminder that the same forces behind explosive upside can also produce equally sharp downside.