MEXC Research has published a year-end report identifying its Top 10 memecoins to watch in 2024, arguing that the segment has become one of the fastest-growing corners of the digital asset market. According to the report, memecoins are no longer defined purely by internet jokes or short-lived speculation. Instead, many projects are increasingly built around strong communities, viral narratives, cultural symbols, and in some cases broader social themes.
The report says MEXC has become an important listing venue for a number of memecoin projects during the year, with several tokens gaining major traction after their initial exposure on the exchange. While the platform frames this as evidence of market demand and ecosystem growth, it also stresses that memecoins remain highly volatile assets whose prices can shift quickly based on sentiment, social media trends, and momentum-driven trading.
Memecoins emerge as a major market trend
One of the main takeaways from the report is that the memecoin category expanded far beyond its early reputation as a purely humorous or utility-free niche. MEXC argues that many newer projects now lean into community identity, online culture, and shared narratives as their core value proposition. In some cases, projects also link themselves to real-world causes or public conversations.
As an example, the report points to PNUT, a Solana-based memecoin inspired by a squirrel named Peanut. Beyond its meme appeal, the token is presented as a tribute tied to broader discussions around animal protection and immigration policy. MEXC uses examples like this to suggest that memecoins are increasingly blending internet virality with emotional or cultural resonance.
The report also cites CoinTelegraph data claiming that by 2024, memecoins had become the fastest-growing segment in crypto, with top-performing projects generating an average return of +1300%. That figure helps explain why the category has remained so attractive to traders despite its well-known risks.
Community remains the core growth engine
MEXC emphasizes that the success of memecoins still depends above all on community strength. Social media platforms, online forums, and influencer attention continue to play a central role in amplifying visibility and attracting new participants. In this model, a project’s market trajectory is often shaped less by conventional fundamentals and more by the intensity of collective online engagement.
Tokens such as Neiro, PNUT, and ACT are highlighted as examples of projects that benefited from viral marketing and strong digital communities. The report suggests that this dynamic has become one of the defining mechanics of the memecoin sector: communities do not merely support these assets after launch, but actively create the narratives that drive adoption, liquidity, and trading momentum.
At the same time, MEXC clearly frames the category as speculative. It notes that memecoins are often traded as high-risk, high-reward instruments and that their valuations can change abruptly based on public attention, community enthusiasm, or broader market mood. The report stops short of making any investment recommendation and repeats that readers should understand the risks before making trading decisions.
The 10 memecoins highlighted by MEXC
The exchange’s list of the Top 10 memecoins on MEXC in 2024 is based on a combination of market heat and annual price performance. The projects named in the report are NEIROCTO, PNUT, ACT, BOME, MOODENG, FWOG, MOG, POPCAT, CHILLGUY, and LUCE.
NEIROCTO is described as a community-driven memecoin inspired by Dogecoin and the legacy surrounding Kabosu’s rescue dog. MEXC portrays the token as one of the standout names of the latest bull market cycle, even calling it a “next-generation Big Dog.” According to the report, Neiro was initially listed on MEXC and later gained further visibility after a Binance listing, which helped drive a sharp increase in market capitalization.
PNUT, built on Solana, is another animal-themed memecoin that gained attention through a narrative rooted in a real-world story. The token was launched in tribute to Peanut the squirrel and, according to the report, gathered additional momentum after Binance announced its listing. MEXC presents it as one of the more prominent animal-themed meme tokens to emerge during the year.
ACT stands out in the report for combining the themes of artificial intelligence and crypto. MEXC describes it as an “AI + Crypto” token whose positioning goes beyond the standard memecoin template. In addition to its market appeal, the project is said to contribute to AI literacy. After first being listed on MEXC and later on Binance, the token’s market capitalization reportedly climbed into the hundreds of millions of dollars.
BOME, short for Book of Meme, is presented as one of the year’s most innovative meme projects. Launched on March 10, 2024, BOME reportedly surged by 3000% within days. Created by Darkfarms, the artist associated with the well-known Pepe meme universe, the project aims to build a permanent digital archive for meme culture using decentralized storage technologies such as Arweave and IPFS.
Big gainers define the speculative appeal
Several of the projects on the list are notable primarily for the scale of their price appreciation. MOODENG, a community-driven token inspired by the famous pygmy hippopotamus “Moo Deng” from a Thai zoo, was described by MEXC as an onboarding-friendly project that could attract newcomers through its lighthearted branding. The exchange says the token posted gains of up to 6900% after being listed.
FWOG, another Solana-based memecoin, is one of the strongest performers in the report. Originating from the rebranding of Flog (FLOG), the frog-themed token saw its logo and broader visual identity updated as part of the transition. MEXC states that after listing on the platform, FWOG’s market capitalization rose to around $700 million, while its peak gain reached an eye-catching 10,033%.
MOG, which the report refers to as the “first cat coin” and “first culture coin,” is described through a broader cultural lens rather than just as a meme asset. Its philosophy of “mogging” is presented as a kind of internet-native mindset associated with dominance and winning. MEXC says it supported the token early and that it ultimately achieved a peak gain of 4950%.
POPCAT draws from the widely circulated “mischievous cat” meme and is framed as a project that successfully merged familiar internet culture with crypto speculation. According to the report, MEXC listed POPCAT early, and the token went on to record a peak gain of 4100%.
CHILLGUY, created in 2023 by artist Phillip Banks, is based on a relaxed cartoon character that became especially popular on TikTok among Gen Z users. Built on Solana, the token reflects a “chill and laid-back” lifestyle identity. MEXC says it listed CHILLGUY early and that the token reached a peak gain of 831%.
LUCE, also on Solana, was inspired by the mascot created for the Vatican’s 2025 Jubilee Year. The name means “light” in Italian. MEXC reports that it listed LUCE early and that the token posted a peak gain of 3340%.
From jokes to narrative assets
Viewed as a whole, the MEXC report suggests that memecoins in 2024 evolved into a more layered market category. While humor and internet-native branding remain essential, the projects attracting the most attention often combine those elements with a stronger narrative architecture. Animal icons, viral characters, AI themes, cultural identity, and even values-based storytelling are all part of how these tokens compete for attention.
That said, the report does not argue that the sector has outgrown speculation. On the contrary, the explosive gains recorded by projects such as FWOG, MOODENG, BOME, and MOG underline the extent to which memecoins still function as momentum-driven assets. Their appeal comes from outsized upside potential, but the same market structure can produce rapid reversals.
MEXC closes the report with a formal disclaimer that the material is provided for reference only and does not constitute investment, legal, tax, accounting, or financial advice. It also says the report should not be interpreted as a recommendation to buy, sell, or hold any asset. For market participants, that caveat may be as important as the rankings themselves: memecoins have become one of crypto’s most dynamic sectors, but they remain among its most unpredictable.