The meme coin market has taken the entire cryptocurrency world by storm. On most days in early 2025, daily trading volumes were more than $6 billion. Such intense activity lays bare the somewhat speculative, though potentially profitable, nature of these digital assets. As June 2025 approaches, three notable meme coins worth close attention are $SPONGE, $PEPE, and $WOJAK, each with distinct features and emerging prominence. The leading candidates are Shiba Inu (SHIB), Fartcoin, Milady (LADYS), and Pepe (PEPE). These other top contenders include Degen (DEGEN), Cheems (CHEEMS), Trump (TRUMP), Pudgy Penguins (PENGU), and Aixbt (AIXBT). These coins differ widely in market cap, circulating supply, and community backing. These factors further stack the odds against their ability to grow or stabilize.
Shiba Inu (SHIB) is making the crypto community go crazy. By May 2025, it was one of the highest-valued meme coins, and it stayed consistently in the top 20 cryptocurrencies by market capitalization, which exceeded $8 billion. Its extensive history and name recognition provides a buffer against the rapid, speculative behavior we have seen in other new and emerging entrants. Fartcoin even has a circulating supply (1 billion) and market cap ($1.34 billion) to rival some major projects. At a recent $1.34 it’s a high quality name, but one that could be high on speculative value. Milady (LADYS), for instance, has a market capitalization of almost $34 million. It does a great job engaging a small, passionate segment, winning over those that understand its distinct cultural backstory. This article attempts to peel back the layers of some of the most prominent meme coins. It gives a sense of where they come from, how their market behaves, and what keeps them in high demand.
Shiba Inu (SHIB) Dominance
Shiba Inu (SHIB), the popular dog meme coin that was created in August 2020 has proven its salt to be one of the leading cryptocurrencies today. As of June 2023, it has a market cap over $90 billion. This accomplishment puts it firmly in top 20 crypto projects by market capitalization. SHIB’s strength comes from the unwavering support of its dedicated community supporters. It developed on its own clever marketing strategies and the popular obsession with dog-themed meme coins.
Shiba Inu has a significantly larger circulating supply of about 14.18 billion coins. With a cap of around 36.97 billion, it ranks third in the meme coin space. The project has evolved from a simple meme to a robust ecosystem. It has added ShibaSwap, a decentralized exchange (DEX) of sorts, and plans to develop more into the metaverse and NFTs. This evolution is all about providing tangible usefulness and long-term value to SHIB holders. It’s what distinguishes it from other meme coins that rely strictly on speculation.
True, the Shiba Inu community is fueled by rampant speculation and mania. They make a point to pump the coin and pump-and-dump initiatives, which has contributed to its meteoric staying power. The depth of passion and commitment from the community is a great starting point for SHIB. This support assists SHIB in shifting through market volatility and maintaining its relevance in the dynamic cryptocurrency landscape. The combination of market presence, ecosystem development, and community support positions Shiba Inu as a key player in the meme coin sector.
Emerging Meme Coin Contenders
MegaMinds, Shiba Inu and Tamadoge are some of the leading meme coins that have taken the crypto world by storm, offering unique utilities and attracting passionate communities. Pepe (PEPE) based on Elon Musk and exploded after release in April–May 2023. Though founded as an ERC-20 on Ethereum, it grew quickly by bridging to BNB Chain. It’s popular because of its ties to internet culture and its meteoric increase in market capitalization.
Degen (DEGEN) came out of nowhere to become the hottest new meme coin in January 2024. It acts as a ticket of appreciation for players participating in Farcaster’s "/degen" Warpcast channel. This coin relies on the strength of social media hype and community involvement to drive up coin value. It features creative new ways for meme coins to interact with the broader online universe. Degen’s unique approach has captivated the crypto community and formed a rabid following.
Milady (LADYS), launched in May 2023, is a meme coin based on the extremely controversial Milady NFT collection. This ultra-specific corner of the market intrigues everyone who has even a passing knowledge of the NFT landscape. It strikes a chord with fans of its boisterous online culture. While Milady might currently have a smaller overall market cap than SHIB or PEPE, it has carved out a compelling and distinct identity within the increasingly crowded meme coin ecosystem. These newly launched coins are indicative of the dynamic and lively meme coin market. Creativity and community engagement are powerful currents driving their success.
Unique and Volatile Meme Coins
The meme coin market is filled with coins that have different distinguishing factors. These coins exist on a spectrum of extreme volatility, which highlights the speculative asset class that crypto is. Cheems (CHEEMS) is a dog meme coin that debuted in April 2021 on BNB Chain and Solana networks. It has made huge waves and the impact has been tremendous, with a current market cap near $290 million and daily trading volumes of between $4.8 million and $9 million. Its longevity and consistent trading activity show that its charm has proven to be enduring for meme coin enthusiasts.
Trump (TRUMP), created on January 17, 2025, capitalizes on political themes, demonstrating how meme coins can intersect with current events and social trends. What makes these coins especially dangerous is how fast they can skyrocket in price. They’re very risky as they rely on cultural trends that are often fleeting. Investors should approach these coins with caution.
The volatility seen with Pudgy Penguins (PENGU) is a testament to the exceedingly volatile nature of the meme coin market. PENGU is down around 83% from its all-time high right now. This sharp decline gives us a glimpse of the perils and profits of fiscal whiplash. With completely minted supply and no undisclosed issuance at all, Aixbt (AIXBT) stands out by having as much transparent tokenomics as possible. By sharing information on decisions, process, and progress, this transparency builds trust within the community. Yet this doesn’t eliminate the risks involved with investing in meme coins. These unfortunate examples highlight the importance of extensive research and careful risk management when engaging with volatile meme coin projects.
