Survey on the Growth of Meme Tokens in the Latest Cycle

Dogwifhat (WIF)

Dogwifhat is a dog-themed meme coin built on the Solana blockchain, launched in November 2023. The project is recognized for its unique mascot: a Shiba Inu wearing a fluffy pink hat, inspired by the internet-famous dog Molly. This playful and endearing image has been instrumental in attracting a global, highly engaged community, especially among digital pet enthusiasts.

The project features a fully decentralized ownership structure, marked by a complete renunciation of ownership rights and the removal of token renewal authorities. This model significantly reduces centralization risks and empowers the community to lead the project's development.

Key drivers for WIF’s growth include major announcements, such as the launch of perpetual contracts with significant leverage on top exchanges and listings within innovation sections of major platforms. These events led to substantial increases in trading volume and market capitalization, reaching notable highs. With thousands of active social media followers and a total supply of 100 million tokens, Dogwifhat stands out as one of Solana’s most prominent meme projects.

Floki Inu (FLOKI)

Floki Inu is a meme token directly influenced by leading personalities in the cryptocurrency market. The project began with the social media announcement of a Shiba Inu named Floki, accompanied by a photo, forging a direct link with well-known figures in the crypto world and lending FLOKI considerable credibility and visibility.

This project exemplifies how pet-themed concepts have become vehicles for blockchain initiatives. Launched in 2021, Floki Inu is available across multiple blockchains, including Ethereum and Binance Smart Chain.

Floki Inu features deflationary mechanisms, such as token burning. With a total supply of 10 trillion tokens and a strong social media following, FLOKI has maintained a significant presence in the memecoin market.

Pepe (PEPE)

Pepe is an Ethereum-based meme coin centered on the iconic Pepe the Frog from a 2005 webcomic. Launched in April 2023, the project set out to become a definitive leader in the meme coin space.

PEPE’s economic structure is simple and transparent: there are no presales, mandatory burns, or transactional taxes. The focus is on entertainment and community participation rather than traditional utility.

Pepe has achieved extraordinary success, with notable price surges fueled by viral social media interest and attention from institutional investors. With a substantial market capitalization, a total supply of 420 trillion tokens distributed across Ethereum, BSC, and Arbitrum, and strong social media engagement, Pepe is now one of the leading meme projects.

Shiba Inu (SHIB)

Shiba Inu is a meme coin launched in August 2020 as a decentralized alternative in the virtual pet space. Conceived as a community-driven, fully decentralized initiative, SHIB serves as the primary token of the Shiba Inu community.

Token distribution was executed equitably, with the development team deliberately renouncing all token holdings to guarantee true decentralization. This strategy has attracted many small investors interested in digital pet economies.

The project includes a decentralized trading platform that has drawn significant attention since launch. Its community-first strategy and affordable token price have fueled widespread adoption. With a total supply of 1 trillion tokens, major market capitalization, availability on multiple blockchains, and millions of social media followers, Shiba Inu is one of the largest meme projects by market cap.

Bonk

Bonk is a dog-themed meme coin created to reinvigorate and support the Solana ecosystem. Launched in December 2022, the project introduced an innovative distribution strategy, airdropping around 50% of its total token supply to the Solana community.

This airdrop targeted key segments, including developers, NFT enthusiasts, investors, and other ecosystem participants. The Bonk team is committed to sustaining and strengthening community trust in Solana.

Bonk allocates a significant portion of its supply to a Decentralized Autonomous Organization (DAO) to ensure genuine community governance and decentralized decision-making. The community-driven nature of Bonk sets it apart, as the development team does not control the supply or project direction. With 100 billion tokens, substantial market capitalization, integrations with DeFi and gaming projects, and strong social media presence, Bonk has built a robust Solana ecosystem.

CorgiAI

CorgiAI is an innovative project that fuses artificial intelligence, gaming, and social features within the crypto ecosystem, applying these to the concept of smart virtual pets. Its primary token serves as a medium of exchange for acquiring other tokens and participating in future ecosystem initiatives.

CorgiAI’s ambitious goals include supporting AI companies, promoting the creation and trading of AI-generated art and NFTs, and providing opportunities in the emerging AI job market. The project conducted an Initial Exchange Offering (IEO) on a leading platform in March 2023.

With a substantial token supply distributed across Solana, Ethereum, and Cronos, notable market capitalization, and a growing social media following, CorgiAI represents a modern meme project that integrates cutting-edge technologies.

Book of Meme (BOME)

Book of Meme is a decentralized meme creation and trading platform, announced in March 2024. The project is designed as a continuously updated resource, offering comprehensive information on the majority of meme tokens across various blockchains.

BOME functions as a cross-chain social storage platform, enabling users to freely create, share, and trade memes. The project is built on Solana and used a presale model with token distribution based on participation volume.

The presale exceeded expectations. With 69 billion tokens in total supply, strong market capitalization, and an active social media community, Book of Meme has demonstrated the potential of art- and community-focused meme projects.

Memecoin (MEME)

Memecoin was launched by the team behind a global image and humor-sharing platform founded in 2008. The project aims to leverage NFTs, tokens, and creative products to foster deeper connections between creators and communities—including those built around virtual pets—through its Web3 creative studio.

The team brings over 15 years of experience in developing community-driven products, with a track record encompassing hundreds of brands, thousands of creators, and millions of fans. The initiative is backed by prominent ecosystem investors.

Memecoin raised significant funding via two rounds of presales, selling portions of the total supply to private investors and the broader community at predetermined prices. Launched on November 3, 2023, the project features a total supply of 69 billion tokens on Ethereum, notable market capitalization, and a substantial social media following, establishing itself as one of the most institutional meme projects.

Baby Doge Coin

Baby Doge Coin is a community token launched on Binance Smart Chain in June 2021, positioned as an upgraded contender in the Dogecoin-themed pet space. Its name draws from popular cultural references, immediately resonating with a global audience.

The project gained major traction after being mentioned by influential figures in the crypto industry. Baby Doge Coin utilizes a unique deflationary mechanism: a percentage of each transaction is redistributed to existing holders, while another portion is permanently burned, boosting token scarcity and value over time.

This mechanism is designed to reward long-term holders and foster a strong, united community. Additionally, Baby Doge Coin partners with animal charities to help stray dogs find homes, adding a meaningful social dimension. With a total supply of 420 trillion tokens, multi-chain availability, significant market capitalization, and robust social media engagement, Baby Doge Coin maintains a prominent market position.

Slerf

Slerf is a meme project built on Solana, launched in March 2024 on major platforms. The project took a novel, transparent fundraising approach: 50% of raised funds went to presale, while the remaining 50% was injected directly into the liquidity pool.

This model reflects lessons learned from earlier meme projects about liquidity sustainability. The Slerf team partnered strategically with top platforms to return part of the funds raised during crowdfunding, reaffirming their commitment to transparency and participant welfare.

Slerf quickly attracted strong community interest, with its market capitalization reaching significant levels within hours of launch. A joint donation campaign raised substantial resources on day one. However, the project encountered a major incident when tokens were accidentally burned during initial distribution. Developers responded transparently, conducting public sessions to address the event. With 500 million tokens, significant market capitalization, and notable social media traction, Slerf represents a more mature meme project emphasizing operational transparency.

Conclusion

This survey of meme token growth in the latest cycle highlights major advances in sophistication, structure, and strategic direction among these projects. While humor, community focus, and high price volatility remain common traits, each project has developed distinct features reflecting lessons learned over time.

What are pets? In this context, pets are themed virtual mascots that provide narrative foundations for blockchain community projects, allowing participants to connect with familiar and emotionally resonant concepts as they engage with decentralized technology.

The reviewed projects show an increasing trend toward deflationary mechanisms, DAO-driven decentralized governance, equitable token distributions, and strategic partnerships with established platforms. Collectively, their market capitalization exceeds $30 billion, demonstrating that meme tokens have become a major category within the crypto ecosystem.

Public personalities continue to play a significant role as catalysts, although dependence on endorsements has waned. The most successful projects have built robust organic communities, clear value propositions, and strong transparency mechanisms that foster trust. The addition of gaming, NFTs, and social impact features introduces new dimensions beyond pure speculation, signaling a gradual maturation of the memecoin market toward more complex and sustainable ecosystems.

FAQ

What are pets and what are their uses?

Pets are collectible digital assets in web3, representing virtual mascots. They enable interaction within decentralized ecosystems, participation in blockchain games, and yield generation through staking or gamified activities.

What is PETS and what is its purpose?

PETS is a cryptocurrency token designed for the web3 digital pet community. It is used for transactions, governance, and access to virtual pet NFT ecosystems, empowering users to actively engage on decentralized pet platforms.

What does “pets” mean?

In crypto, pets are digital assets or tokens representing virtual mascots with unique attributes. They can serve as collectibles, offer utility in blockchain games, or generate income for holders within specific decentralized ecosystems.