There are thousands of projects in the cryptocurrency space. Some of them act as a store of value, others act as governance and utility tokens, and then there are shitcoins.
A shitcoin is a cryptocurrency created for no real reason or purpose. In most cases, those are meme tokens, or simply cryptos belonging to projects with little to no value. Such coins typically have really low value and often crash and burn. Some, however, manage to hit a price rally and reward their owners with thousands or millions in profit.
With their high profit potential, it’s only natural that many investors tend to become interested in shitcoins. But how do you know which shitcoins are worth buying and which ones are better off ignored? In this article, I will talk about some of the most promising shitcoins and give you some tips on how you can buy “shitcoin” tokens or coins.
What Is a Shitcoin?
‘Shitcoin’ is a term commonly used by cryptocurrency enthusiasts to describe a digital asset that has little or no value, often lacking a clear purpose or real utility. For instance, some individuals consider meme coins like Dogecoin and Shiba Inu shitcoins. The phrase can also describe blockchain-related projects that aren’t as serious as others.
Best Shitcoins to Buy in 2024
If you had invested in the second most popular shitcoin, Shiba Inu, in 2021, you would have received a return of more than 20,800,000% by the end of the year.
Due to their low initial value, shitcoins can potentially accelerate the growth of your investment by 1000X or more. Keep in mind, though, that shitcoins are more likely to dump and drop to zero than to increase by a millionfold. To capitalize on the inflated value gains posted by meme coins, first, determine the best shitcoins to purchase and get in early.
Dogecoin (DOGE) — The Market’s Leading Meme Coin
The first dog-themed meme coin, Dogecoin, has advanced considerably. The asset, albeit first intended to be a mockery of cryptocurrencies, quickly rose to become one of the most expensive coins. This would have been ironic enough in itself, but Dogecoin pushed forward, and is now in the top 10 most valuable coins on the crypto tokens market. It also has an infinite maximum supply.
One of the most remarkable things about Dogecoin is its insane consistency and relative reliability. Despite being the ultimate meme coin, DOGE has managed to remain in the top 10 cryptocurrencies by market capitalization throughout the many ups and downs of the crypto market. That’s why many investors still have their eyes on this crypto project and how it might do during the next bull market.
Shiba Inu (SHIB) — Popular Meme Coin That Aims To Challenge The Top 10
Shiba Inu is a good alternative if you don’t want to invest in Dogecoin. Shiba Inu gained notoriety for claiming to be the “Dogecoin killer” when it debuted on the market in 2020 without knowing whether its presale would be successful.
The Shiba Inu coin currently has no use cases, which makes it one of the best shitcoins available because, despite having little or no value, its popularity is undeniable. However, it does have one big edge over Dogecoin — since Shiba Inu is built on Ethereum, it can make use of smart contracts technology and thus interact with decentralized applications.
The developers of this cryptocurrency are working hard to provide token holders with more real-world utility, which may eventually aid in its ascending to popularity.
Pepe (PEPE) – The World’s Greenest Shitcoin
Pepe coin took the crypto world by storm — just like the Pepe the Frog meme took over the Internet. Relying solely on its meme status, this crypto remained within the top 100 cryptocurrencies by market cap ranking despite experiencing a huge drop in token price in early 2023.
PEPE’s strategic approach includes listings on multiple major cryptocurrency exchanges and partnerships that enhance its accessibility and credibility. These listings not only broaden its market reach but also affirm its standing in the crypto market, which can be crucial for its long-term viability.
PEPE has a strong community and deflationary mechanism that burns a small amount of coins with every transaction and helps to manage the token supply. It is one of the most transparent and upfront projects in the crypto space — its team has always been open about its lack of utility and Pepe being nothing more (or less) than a meme coin. This honesty, coupled with the iconic status of the meme it is based on, makes it one of the best shitcoins on the market.
Luna Classic (LUNC) — Revived Legacy Coin with Speculative Recovery Potential
Luna Classic (LUNC) is essentially a remnant of the original Terra blockchain that continued under a new name following the memorable collapse of the Terra ecosystem in May 2022. Originally known as LUNA, the token was renamed Luna Classic, and a new blockchain called Terra 2.0 was created, featuring a new version of the LUNA token. This rebranding and launch of the new blockchain were part of a broader effort to stabilize the network and restore trust among its users after the dramatic crash of its algorithmic stablecoin, TerraUSD (UST), which lost its peg to the US dollar.
Regarding its reputation as a “shitcoin,” Luna Classic has been critiqued for its inherent design flaws, particularly its dependency on the algorithmic stablecoin (UST) that proved unstable. This instability, coupled with the rapid devaluation during the crash, has led many in the cryptocurrency community to view it skeptically. Critics argue that the reliance on speculative stabilization mechanisms and the severe impact on investors contribute to its negative perception.
Luna Classic now experiences significantly reduced activity and growth potential, mostly trading on historical relevance rather than substantive utility or innovation in the current crypto market landscape.
People believe Luna Classic may recover due to active community efforts, such as token burning and governance updates. The speculative nature of the crypto market also plays a role, with traders betting on potential price increases.
ApeCoin (APE) — Best Shitcoin for Crypto Commerce
The creators of Bored Ape Yacht Club, a popular NFT project, introduced ApeCoin in 2022.
An ERC-20 governance and utility token, ApeCoin is used to encourage and facilitate decentralized community formation at the forefront of Web 3. The holders of ApeCoin can govern themselves thanks to the decentralized governance model. The framework decides how to use the Apecoin DAO Ecosystem Fund and controls how the Apecoin DAO operates.
One of the best shitcoins, APE, is currently one of the top 150 cryptocurrencies in the world. Although it has a rather high price for a shitcoin — over one US dollar — it still has a place on this list, considering the shaky reputation NFTs have at the moment. At the same time, since it is the native token of such a famous project, it has great growth potential.
Bonk (BONK) — A Shitcoin with Community-Driven Growth and High Trading Volume
Bonk (BONK) is the first dog-themed coin on the Solana network, embodying the ethos of “for the people, by the people.” Launched on December 25, 2022, BONK quickly gained traction by distributing 50% of its total supply to the Solana community, including NFT collectors, developers, and artists. This strategic move led to a 34% increase in the price of the original SOL token within 48 hours.
This distribution model, alongside the project’s high focus on its community, is the unique aspect of BONK. The airdropping of around 50 trillion coins to those maintaining and developing the Solana blockchain generated approximately $20 million in trading volume, and the token has grown by over 2,000% in just a week since its initial listing on various crypto exchanges.
With over 350 on-chain integrations built by the community, BONK continues to drive engagement and innovation within the Solana ecosystem. Despite the anonymity of its founders and the lack of a comprehensive white paper, BONK’s active Twitter presence and detailed bonk-paper provide enough information.
Dog (Runes) (DOG) — A Shitcoin with Massive Growth Potential
Dog (Runes) (DOG) is a decentralized, community-led meme coin on the Bitcoin blockchain, launched on April 24, 2024. It was distributed through a volunteer-organized airdrop to the Bitcoin Ordinals community, with no team allocation or presale. DOG’s mission is to onboard millions of people to Bitcoin, aiming to “go to the moon.”
The unique aspect of DOG lies in its foundation on the Runes Protocol, which simplifies the launch and management of fungible tokens on Bitcoin. As the largest cryptocurrency within this new ecosystem, DOG is more than 10 times more valuable than its closest competitor. The token has already captured a lot of attention, boasting a current market cap of over $500 million at the time of writing.
DOG being based on Bitcoin (Runes) gives it substantial future growth possibilities. Given Bitcoin’s insanely high market cap, even a small fraction of Bitcoin’s price movement could dramatically increase DOG’s price. This potential makes DOG a compelling choice for those looking to diversify their investment strategy with a leading shitcoin that combines community engagement and cutting-edge blockchain technology.
Baby Doge Coin (BabyDoge) — A Shitcoin with a Robust Ecosystem
Baby Doge Coin (BabyDoge) is a leading community meme coin on the Binance Smart Chain, created initially as a joke to raise awareness about animal adoption. Launched in June 2021, BabyDoge gained massive popularity after being mentioned by Elon Musk. The coin’s primary utility lies in building a fun meme community focused on animal welfare and pet adoption, supported by unique tools like the BabyDoge AI image generator, which allows users to create and mint AI-generated images and memes as NFTs.
BabyDoge has a significant market cap and a substantial community of over a million token holders. It has also set a world record for the most pet food donated in 24 hours, contributing over 81,000 pounds of dog food and $1.5 million to animal shelters.
BabyDoge has a robust ecosystem, featuring its own decentralized exchange, BabyDogeSwap.com, which offers various services like automated market making (AMM), farming, token locking, a burn portal, and more. Despite the anonymity of its creators, BabyDoge’s use of the Binance Smart Chain ensures compatibility with Ethereum and a Proof of Staked Authority consensus that promotes decentralization and community involvement. BabyDoge’s integration into smart contract products and its positive message make it a leading shitcoin with a strong potential for future growth.
Floki Inu (FLOKI) — Best Shitcoin for Multi-Chain Functionality
Floki Inu, which entered the cryptocurrency market in August 2021, is another dog-themed shitcoin you might want to look into. The fact that investors had connected Floki Inu with Dogecoin after the coin’s initial launch helped the currency to soar.
The Floki Inu coin was made when Elon Musk said in June 2021 that he was naming his Shiba Inu pet “Floki.” Dogecoin-like Floki Inu, now known simply as Floki, was conceived as a joke currency, but a closer look reveals that it is much more than that.
The Floki Inu development team has since shifted its focus to community building while transforming the shitcoin into a viable utility token. The collaboration between the project and CryptoCard deserves credit here because it enables Floki Inu users to make purchases from more than 2,000 merchants. The multi-chain cryptocurrency that runs on the Ethereum and Binance Smart Chain (BSC) blockchains also established a number of projects that it can leverage to expand its reach.
Despite all of its ups and downs, FLOKI remains one of the most popular shitcoins and one of the top 150 cryptocurrencies in the world.
That concludes our list of the best shitcoins to buy in 2024. If you’d like to know what other currencies have the greatest potential in 2024, you can view this article.
How to Find New Shitcoins to Buy?
When trading shitcoins, sometimes it is not enough to look up the best shitcoin to buy lists or various rankings. If you’re an experienced investor with high risk tolerance, you can look for hidden gems.
One effective investment strategy is to participate in Initial Coin Offerings (ICOs) and presales, where you can acquire new tokens at a lower price before they hit the market. Participating in airdrops is a way to receive new tokens for free, often as a reward for community engagement or holding specific cryptocurrencies. Engaging with group chats on Telegram, forums, and Discord can provide valuable insights and early information about emerging projects.
Monitoring trading volume and current price trends on decentralized exchanges can help you identify potential breakout tokens. Staying up-to-date with market trends through these communities can give you a competitive edge. Additionally, following influencers and analysts on social media can reveal under-the-radar opportunities — just make sure to take any and all investment advice with a grain of salt and always DYOR before making any purchases. This proactive approach can enhance your chances of finding the next big shitcoin before it becomes mainstream. As you gain more experience, you’ll get better at recognizing high-potential projects.
What Can Make a Shitcoin Worth Buying?
The majority of shitcoins derive their worth from their mere existence, celebrity endorsements, or securing backing from a reputable company. However, many crypto investors continue to see value, utility, and real-world assets in these coins. They have a keen interest in these digital assets. Let’s take a closer look at some of the factors that can influence whether a shitcoin is worth buying.
Community Support
Without a clear goal, shitcoins can still be profitable investments if they are supported by robust communities. This indicates that there will be a sizable number of holders willing to keep purchasing and supporting the price of a shitcoin.
Shitcoins have historically been the main attractions in the crypto community due to their potential returns of up to 50–500% or even higher. Investors need to set up their portfolios for a positive market as the 2022 bearish trend comes to an end and the 2024 crypto spring draws near. The secret is to spot promising shitcoins and buy them while they’re still reasonably priced.
The Blockchain
Many users choose their next shitcoin investment based on a particular blockchain. Ethereum is naturally the most popular one, but the Solana network isn’t too far behind.
Blockchain performance, transaction speed, and fees also come into the equation when users are deciding upon their next shitcoin investment. Ethereum’s established ecosystem and security make it a popular choice, while Solana’s high throughput and low costs attract those looking for quick profits. Last but not least, hype and market perception can noticeably influence investor decisions, with newer blockchains gaining attention for their innovative approaches.
Staking Rewards
High staking rewards are often a big factor in a shitcoin’s success.
Shifting the Focus
A shitcoin may begin with no apparent purpose but change course eventually and adopt certain use cases.
Just like that, Dogecoin advanced significantly as a payment option last year; the same is true for coins like Shiba Inu. To increase their appeal and motivate users, other meme assets included features like staking and prizes.
Celebrity Endorsements
As we’ve mentioned earlier, finding the best shitcoins to buy is ultimately done mostly for financial gain. And the truth is, nothing completely captures the potential for profit when it comes to shitcoins like celebrity endorsements.
Celebrities like Snoop Dogg, Miley Cyrus, and even Elon Musk were quite outspoken about supporting crypto assets in the past. A shitcoin may indicate that its price is about to increase, at least temporarily, if it gains celebrity endorsements.
Remember that some shitcoins can be frauds, like Will Smith Inu (WSI), a project that suddenly lost all of its value. Scam shitcoins typically only appear on one DEX (decentralized exchange), and are never listed anywhere else. However, this can also apply to newer projects or ones that haven’t had their big break yet.
After all, shitcoins are not some cutting-edge tokens that aim to solve real-world problems. They can come in a wide range of forms, and major crypto exchanges may have their stance on accepting them. When you invest in shitcoins, you must understand that it is incredibly risky. A good way to weed out the scams is to study the project’s social media and official website. Still, you should be wary and always keep in mind that these are very high-risk investments.
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Best Platforms to Buy Shitcoins
When it comes to centralized exchanges, Binance, Changelly, and Coinbase are the top 3 picks for purchasing shitcoins. They all let you purchase meme coins with fiat currencies and have quick and simple signup processes. Credit/debit cards, bank wire transfers, eWallets like PayPal and Skrill, as well as other cryptocurrencies, are supported as traditional payment options.
You can also invest in shitcoins via decentralized platforms, like Uniswap (for ETH tokens) or Jupiter (for Solana).
Before you buy any shitcoin, however, you will first need to get a crypto wallet that can support it. Since most shitcoins are tokens, it can be a safe bet to get MetaMask or another Ethereum wallet. Crypto wallets like that also often have in-built crypto exchanges that can give you access to an even wider range of popular meme coins and shitcoins.
How to Buy Shitcoins for Beginners — Step-by-Step Guide
Buying a shitcoin is easier than most new investors would think. All you need to do is follow some basic steps, such as signing up for an exchange account with a safe company, doing proper research on available shitcoins, and becoming familiar with market order types.
Another thing to remember: investing all of your money in a single cryptocurrency is risky. It is not a good strategy, even though it may appear like an easy method to make quick money.
Ultimately, having a detailed plan and taking time to practice will lead you to successful crypto investment experiences in the long run.
Where to Store Shitcoins Safely
As the cryptocurrency market constantly fluctuates, it can be hard to choose where to store your shitcoins. It’s necessary to keep in mind that shitcoins are not legal tender, so keep them secure. Here are a few safe places to keep your shitcoins:
Online exchanges: They allow you to effortlessly swap your crypto funds and typically have low fees. Binance is one of the most popular exchanges.
Digital wallets: Because your private keys are never revealed, this is one of the most secure ways to store your currencies. Coinbase is one of the most popular digital wallets.
Paper wallets: Paper wallets are another effective solution for storing coins because they are difficult to hack. You can print a paper wallet and keep it in a secure location. Mycelium is a popular software solution that lets you make paper wallets.
Cold wallets: Overall, using cold wallets for shitcoin storage is the safest option available as, apart from being convenient, they offer high levels of security.
Conclusion
Shitcoins are a popular asset class, but most investors see them as useless assets without clear applications. Many of them have successfully established solid communities, which has driven up their prices. However, a few of these coins also accrue value by including use cases.
FAQ
Do shitcoins make a good investment?
Deciding whether or not to make an investment in a shitcoin is a tough call. On the one hand, these types of cryptocurrency projects tend to come and go very quickly, offering the potential for quick gains. On the other hand, there’s no guarantee that any of them will take off, as is the nature of investing in high-risk projects. If you’re looking to gamble with small amounts of money in hopes of big returns, a shitcoin might be worth considering; however, if you prefer something more secure and reliable, it would be wise to look elsewhere. As with all investments, exercise due diligence and research before putting money into any project.
Can shitcoins make you rich?
While shitcoins certainly have the potential to make someone wealthy over a short period of time, they are also high-risk investments. Anyone considering investing in shitcoins should exercise due diligence and research the project thoroughly before committing any capital. It’s important to remember that no investment is guaranteed; there’s always a chance to come out on top, but nobody wants to face major financial losses because of an unwise decision. That being said, some people have made substantial amounts of money buying and selling shitcoins — it all comes down to understanding the market and making smart decisions. Now, it is time to remind you once again: please, don’t forget to do your own research.
Which crypto will explode in 2024?
Many digital currencies have the potential to be the next big cryptocurrency. If you want to see a list of the most promising coins for 2024 and beyond, check out this article.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
