The 6 Best Shitcoins to Invest in for 2024

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While the term ‘shitcoin’ was originally reserved for cryptocurrency tokens with little to no value or utility, some have gone on to achieve unexpected explosions in price.

Shiba Inu has been perhaps the biggest winner in this category. At its peak, the dog-themed meme coin had surged by 40,000,000% from its opening price. 

As a result, shitcoins are now widely considered to be viable investments. In this guide, we have identified some of the best available in 2024, with Smog, Sponge V2 and Dog Wif Hat standing out as particularly attractive options.

Our picks of the best shitcoins to invest in

  1. Dogeverse (DOGEVERSE) – Top multi-chain shitcoin is compatible with six blockchains. Get high staking APYs.
  2. Sponge V2 (SPONGEV2) – The second coming of a hugely popular meme coin. Offers P2E earning modes.
  3. Smog (SMOG) – 2024 meme coin promising “the greatest Solana airdrop of all time”. Get 42% staking yields.
  4. DogWifHat (WIF): Solana-based meme coin that has broken both the $1 and $2 barriers in quick succession.
  5. Pepe (PEPE): Pepe the frog-inspired shitcoin that achieved highs of +14,000% less than a month after launch
  6. Bonk (BONK): One of the most successful shitcoins of all time, this Solana meme coin is up by 40,000% since launch.

A closer look at the best shitcoins to buy right now

Here is a detailed look at our six best shitcoins to invest in, complete with the background, features, advantages and drawbacks of each project.

1. Dogeverse: Multi-Chain Shitcoin Offers High Staking Yields

Dogeverse ($DOGEVERSE) is an innovative Doge-themed meme cryptocurrency and one of the top shitcoins to invest in 2024. Notably, it is the first Doge token to be compatible with six blockchains. 

DogeverseMultiChain

In only a couple of days since the $DOGEVERSE presale launch, this cryptocurrency has raised more than $2.6 million. The presale is expected to sell out fast, with Doge Day coming up on April 20th. 

Through Wormhole and Portal Bridge technology, Dogeverse will be compatible with six blockchains – namely Ethereum, Binance, Solana, Polygon, Avalanche, and Base. Therefore, you can access high security, low transaction costs, and high throughput. 

This meme coin offers utility through the staking mechanism. Token holders can earn generous yields by locking their tokens on Dogeverse. At press time, the staking yields are 384% annually. 

TokenomicsofDogeverse 1

More than 4.1 billion tokens have already been staked. The yield will decrease as more tokens are locked in the ecosystem. From the 200 billion token supply, 20 billion tokens will be offered as staking rewards. 

At the time of writing, $DOGEVERSE is priced at $0.000293 on its presale stage. For more updates about this shitcoin, read the Dogeverse whitepaper and join the Telegram channel

Pros & Cons

Pros

  • Multi-chain compatability with six blockchains
  • Offers staking yields of over 380% annually

Cons:

  • May attract initial volatility

2. Sponge V2 (SPONGEV2) – Version #2 of hugely popular 2023 meme coin with Coinbase listing potential

One of the most popular meme coins of 2023, Sponge quickly surged to a $100m market cap and achieved 100x milestones.

In 2024, the coin is making a comeback with Sponge V2, transitioning the existing community to the Polygon network to enable lower transaction fees. Using the stake-to-bridge mechanism, Sponge holders can stake their tokens on the new V2 smart contract.

An image marketing the Sponge play-to-earn racing game, taken from the official website

The project boasts some interesting utility, including a play-to-earn racing game, in which holders can earn $SPONGE tokens. Users can play a free version of the game if they wish, or opt for the premium version to spend and earn tokens through gameplay and leaderboard rankings.

The impact of the new version’s launch is clear, with the token achieving its all-time high of $0.00421 in March 2024.

One thing for potential investors to be wary of is that the Sponge V2 developers remain anonymous, as is often the case with meme coin projects.

Pros & Cons

Pros

  • Meme coin market is hot right now
  • Potential to replicate the 100x success of Sponge V2

Cons:

  • Unknown whether success of Sponge V1 will be replicated

3. Smog (SMOG) – Dragon-themed fair launch meme coin with 490-million token airdrop forthcoming

Launched in February 2024, Smog is already taking the meme coin and altcoin markets by storm, having soared close to the $0.4 mark and increasing its value by more than 500%.

Sporting dragon-themed branding and the tagline “one meme coin to rule them all”, the token sets itself apart from traditional shitcoins with a range of interesting utility features, including what it is calling “the greatest airdrop in Solana history”.

A screenshot of the 'buy and stake' window from the Smog  website

Indeed, phase three of the project’s roadmap will see 35% of its token supply airdropped to more than 100,000 holders, equating to 490 million tokens.

The Smog developers have also shown a commitment to increasing organic reach through community growth, with 50% of the token supply dedicated to marketing efforts. One such method is a Zealy campaign, through which more than 3,000 users are currently participating in daily requests in return for XP.

The project’s fair launch was another signal of intent from the developers, helping to establish $SMOG as a token with major potential.

With these factors in mind, Smog could qualify as not only one of the best shitcoins to invest in, but also one of the best cryptos under $1.

Pros & Cons

Pros

  • Aiming to follow in the footsteps of hugely successful meme coin launches
  • Huge airdrop on the horizon

Cons:

  • Meme coins tend to be highly volatile

4. Dog Wif Hat (WIF): Dog-themed meme coin among top-100 cryptocurrencies

The original inspiration for newcomer $FWIF, Dog Wif Hat launched just before Christmas 2023 and immediately saw explosive growth.

To be precise, the meme token is up more than 1,000% after less than three months on the market, having soared above both the $1 and $2 marks during that time. As a result the project’s market cap is close to exceeding $2bn, placing it among the top-100 cryptocurrencies on the market.

image 16

This growth is largely due to the project’s growing online profile, with prominent industry figures such as BitMEX co-founder Arthur Hayes publicly endorsing it. As a result, the $WIF community is growing, having recently surpassed 50,000 holders.

Though it is often difficult to judge whether a shitcoin will be successful, the signs are positive for $WIF. In particular, the token’s market cap and price is still modest despite its impressive recent growth, making the entry-point accessible for many investors.

Pros & Cons

Pros

  • Unique and individualistic branding
  • Follows a long line of successful dog-themed coins

Cons:

  • Unknown whether success of project’s such as Dogecoin and Shiba Inu will be replicated

5. Pepe (PEPE): Ethereum-based meme coin 

Inspired by the Pepe the Frog cartoon character, $PEPE has gradually become one of the cryptocurrency market’s most successful shitcoins.

Since launch in April 2023, the token has surged by more than 14,000%, earning a market cap of more than $3bn and a place among the crypto market’s top-50 coins.

Like many shitcoins, Pepe’s growth has been slow. Following a modest uptick in value just days after launch, the coin tanked, and failed to record any significant gains until earlier this year.

A marketing image taken from the Pepe website

However, the coin has sharply rebounded amid 2024’s meme coin bull run, soaring by a remarkable 900% between the beginning of February and mid-March 2024. 

$PEPE has established itself as a pure shitcoin, with the developers establishing a no-tax policy and acknowledging the coin’s fundamental lack of utility.

Another selling point for the project is its deflationary nature, meaning the number of coins in circulation is set to decrease over time. This is likely to be a selling point for those eyeing major gains.

Pros & Cons

Pros

  • Strong community of backers
  • Deflationary

Cons:

  • The meme coin market is known for its volatility

6. Bonk (BONK) – One of the most profitable shitcoins of all time

Bonk is another heavy hitter in the shitcoin space, having enjoyed gains of more than 25,000% since its launch, and placing comfortably among the top-100 crypto tokens on the market.

However, like Pepe, the meme coin’s journey has been staggered, seeing virtually zero growth for a full year after its launch in December 2022. 

image 17

Despite this, the beginning of 2024 has been highly fruitful for the dog-themed coin, having surged by nearly 200% in the two months following January 1. Overall, $BONK is now comfortably one of the most profitable shitcoins of all time.

Despite just being a meme coin in a market of hundreds, the $BONK developers claim that its purpose is to be “the first Solana dog coin for the people, by the people”, with half of the token’s supply being airdropped to Solana holders.

The Bonk team also claims that the token has been integrated more than 130 times across sectors such as gaming, gambling and NFTs.

Pros & Cons

Pros

  • The coin has had a wide range of integrations across multiple sectors
  • Community-focus – 50% of token supply airdropped to holders

Cons:

  • Risk of insider dumping

How to find the top shitcoins in 2024

With 158 new crypto projects established between December 2023 and January 2024 alone, this market can be overwhelming to navigate.

Here are a few quick pointers on how to find the best shitcoins to invest in amid a crowded marketplace.

Look out for new presales

A presale is when a new project’s tokens are sold to a small, exclusive group of investors prior to any public exchange listing. These events are sometimes referred to as Initial Coin Offerings (ICOs).

The purpose of a presale is for the project’s founders to fund the forthcoming stages in its roadmap, which usually involve the rollout of new features and community events.

Crucially, presale prices are typically much lower than post-listing, offering investors the opportunity to participate in a project at a much lower entry point.

Utilize social media platforms 

Platforms such as X (formerly Twitter), Telegram and Reddit are home to thriving cryptocurrency communities. As a result, project developers consistently market their products through these channels.

For the investor, this represents a virtually endless resource for news, updates and investing tips. 

Reddit is a particularly powerful resource for investors, with subreddits such as r/CryptoCurrency and r/CryptoMoonShots boasting millions of members. These communities can be an excellent source of not only information regarding projects, but also advice regarding safety and the legitimacy of certain projects. 

An image of social media apps on a smartphone

Monitor crypto exchanges

Crypto exchanges are a consistently reliable method of finding new projects. 

Providing you have active accounts, centralized exchange platforms such as Coinbase and Binance provide listings of new coins on their websites, often accompanied by a range of key information regarding the project.

Be wary that exchanges will not list new coins while they are in the presale phase. However, this could be seen as an advantage; only coins considered to be safe and reliable can qualify to list on exchanges. 

Therefore, for the more cautious crypto investor, limiting your search to exchange-listed projects could be a wise move.

Observe market trends using news sources

As a legitimate sector of the economy in its own right, cryptocurrency is now routinely covered in the media.

Today, there are a wide range of specialist crypto publications covering new projects, market trends and much more. Some notable examples include Coin Telegraph, Crypto News and Coin Desk.

However, finance desks at mainstream media outlets consistently cover cryptocurrency too. Reuters, YahooFinance, CNBC and The Financial Times are particularly prominent in this area. 

However, it is worth noting that mainstream media outlets are unlikely to cover new projects, particularly those operating on a small scale. These sources are more useful for understanding the general direction of travel in the broader market, including investor sentiment and regulatory updates.

FAQs

What is the best shitcoin to buy now?

With all the characteristics of a traditional shitcoin but with additional utility, Dogeverse is showing the potential to reward early investors in 2024.

Is it worth investing in shitcoins?

The short answer is yes. While ‘shitcoin’ was a term originally used to describe crypto projects with no value or utility, this has changed dramatically. Dogecoin, for instance, while originally a shitcoin, is now among the top 10 cryptocurrencies on the market.

Which coin will explode in 2024?

While we strictly do not give financial advice or offer predictions, both Dogeverse and Sponge V2 look to have the potential to offer considerable returns in 2024.

References