MEXC Research has published a report highlighting what it calls the top 10 memecoins to watch in 2024, offering a snapshot of a sector that has continued to command attention across the broader digital asset market. According to the report, memecoins remained one of the most closely watched themes this year, fueled by strong online communities, viral narratives, and in several cases, dramatic price appreciation after exchange listings.
The exchange framed the memecoin segment as a category that has evolved beyond its early reputation as a corner of the market driven only by jokes and internet hype. While speculation remains a defining feature, MEXC argued that many newer projects now combine community energy with cultural storytelling, cause-based branding, or broader thematic appeal. That shift, in the firm’s view, has helped memecoins remain relevant during a period in which traders have been searching for high-volatility opportunities.
A Market Moving Beyond Pure Meme Status
One of the report’s central claims is that memecoins are no longer judged solely on whether they have conventional utility. Instead, community cohesion, meme strength, social media reach, and the ability to turn a simple concept into a durable narrative have become key drivers of market performance. MEXC pointed to examples such as PNUT, a token inspired by a squirrel named Peanut, which also became associated with animal protection themes and broader public discussion.
The report also highlighted ACT as an example of a project attempting to merge the “AI + crypto” narrative with memecoin-style market dynamics. In MEXC’s telling, this kind of hybrid positioning has helped some tokens break away from the stereotype that all meme assets are identical or purely comedic. Even so, the report did not suggest that memecoins have become low-risk assets. On the contrary, it repeatedly emphasized their sensitivity to sentiment, trend cycles, and social amplification.
Citing CoinTelegraph, the report said that by 2024 memecoins had become the fastest-growing segment of the crypto market, with top performers delivering an average return of +1300%. That figure was used to reinforce the idea that the sector has become a major force in market attention, even if much of that attention remains speculative.
Community and Social Media Still Drive the Category
MEXC described community participation as the dominant engine behind memecoin growth. Social platforms, online forums, and influencer endorsements were all identified as major catalysts for adoption and price momentum. In practical terms, this means memecoins often rise not because of traditional valuation frameworks, but because they succeed in creating highly engaged communities capable of sustaining visibility.
The report specifically noted that tokens such as Neiro, PNUT, and ACT benefited from viral marketing and coordinated online attention. That pattern is familiar across the memecoin space: a recognizable character, a compelling meme format, or a cultural hook spreads quickly, and exchange listings can then magnify the resulting liquidity and visibility.
At the same time, MEXC cautioned that this same dynamic can work in reverse. Because prices are often shaped by mood, attention, and momentum, memecoins can be subject to abrupt swings when sentiment weakens or the market shifts focus. The report therefore characterized the asset class as a high-risk, high-reward corner of crypto rather than a stable or fundamentals-driven segment.
The 10 Memecoins Featured by MEXC
The report’s featured list includes NEIROCTO, PNUT, ACT, BOME, MOODENG, FWOG, MOG, POPCAT, CHILLGUY, and LUCE. MEXC said the ranking was based on market heat and the highest price increase seen during the year, with stronger-ranked tokens appearing earlier in the list.
NEIROCTO was described as a community-driven memecoin inspired by Dogecoin and by Kabosu’s rescue dog. MEXC said the token stood out during the recent bull market and gained added investor attention after being listed first on MEXC and later on Binance, where its market capitalization rose significantly.
PNUT, built on Solana, drew inspiration from a squirrel named Peanut and turned that story into a broader symbolic project tied to animal protection and related public debate. MEXC said momentum accelerated after its initial listing on the exchange and then intensified following news of a Binance listing.
ACT was presented as a more unconventional entry in the memecoin field, combining artificial intelligence and crypto themes. MEXC said the token’s market capitalization climbed rapidly to hundreds of millions of dollars after its early listing and subsequent Binance debut, helping establish it as a leading AI-themed token.
BOME, or Book of Meme, launched on March 10, 2024, and was one of the year’s most notable breakouts. Created by Darkfarms, the artist associated with the well-known Pepe meme, the project positioned itself as a decentralized archive for meme culture using storage systems such as Arweave and IPFS. According to the report, BOME surged by 3000% within days of launch.
MOODENG was highlighted as a community token inspired by a famous pygmy hippopotamus from a Thai zoo. MEXC said the project sought to use a friendly and recognizable mascot to draw new users into crypto, and that after being listed on the exchange, the token posted gains of up to 6900%.
FWOG, a frog-themed Solana memecoin born out of the rebranding of Flog (FLOG), was one of the strongest performers in the report. MEXC said that after listing, the token’s market capitalization climbed to around $700 million, with peak gains reaching 10,033%.
MOG was described as the “first cat coin” and “first culture coin,” with a philosophy centered on “mogging,” or achieving dominance and “winning” in every arena. MEXC said it supported the project early and that the token recorded peak gains of 4950%.
POPCAT, inspired by the viral mischievous cat meme, was another internet-culture token that translated broad online recognition into crypto market momentum. MEXC said the token achieved a peak increase of 4100% after early support from the exchange.
CHILLGUY, a Solana-based meme token created by artist Phillip Banks in 2023, gained traction especially among Gen Z users through TikTok. Built around a relaxed, laid-back aesthetic, the token represented how social identity and internet subculture continue to shape the memecoin sector. MEXC said CHILLGUY posted a peak gain of 831%.
LUCE, also on Solana, drew inspiration from “Luce,” the mascot created for the Vatican’s 2025 Jubilee Year. The name means “light” in Italian. MEXC said it listed the token early, and the asset went on to record gains of 3340%.
What the Report Suggests About the 2024 Memecoin Cycle
Taken together, the list illustrates several themes that defined memecoins in 2024. First, exchange access and timing remained crucial. In multiple cases, MEXC emphasized its role as an early listing venue before further market expansion or listings on larger platforms. Second, the winning projects were rarely random; most combined a recognizable visual identity with a story that could travel quickly across social channels. Third, the sector expanded beyond simple animal memes into adjacent narratives such as AI, digital culture preservation, and social symbolism.
Still, the report stopped short of portraying memecoins as a mature, fundamentally driven asset class. Its own language repeatedly underscored that the category remains heavily dependent on speculation. In memecoins, cultural resonance can create enormous upside, but it can also disappear quickly if attention fades. For traders, that makes liquidity, timing, and risk control especially important.
MEXC included a clear disclaimer stating that the report does not constitute investment, tax, legal, financial, accounting, or consulting advice, nor should it be interpreted as a recommendation to buy, sell, or hold any asset. The exchange said the information is provided for reference only and urged users to fully understand the risks before making investment decisions.
That disclaimer is particularly relevant in a segment where triple- and even quadruple-digit gains often draw fresh waves of speculative capital. The same factors that allow memecoins to surge on narrative momentum can also expose investors to sharp reversals. As 2024 showed, memecoins remain one of the most explosive areas in crypto, but also one of the least forgiving when sentiment turns.