The Best Shiba Inu (SHIB) Alternatives in 2024: The Meme Coin Deep Dive

Shiba Inu (SHIB) is one of the most popular meme coins in both the crypto world and the mainstream.

It is the second largest meme coin by market capitalization, behind the beloved Dogecoin (DOGE). As this market segment continues to expand with an endless stream of participants, it's worth looking at some of the more popular options from SHIB.

This task is challenging because the meme coin market is filled with hundreds of tokens that serve no purpose other than entertainment/speculation. However, some of these have a strong user base or plan to become a hub for Web3 projects, providing users and merchants with access to decentralized applications (dApps) for meme coins.

We've boiled down the most popular meme coins for 2024 based on a number of factors, such as roadmaps, utility, or the sheer strength of their communities.

The best SHIB options for 2024

Note that this article is not intended to provide financial advice. Investing in cryptocurrencies, especially meme coins, conveys potential risks due to their inherent volatility. Always do your own research and seek professional advice before spending your own money. Investing in crypto can lead to huge financial losses.

Dogwhiphat (YF)

WIF is the first dog-themed Solana meme coin. It drew attention from altcoin traders and made the meme coin narrative run on Solana.

As the name suggests, the coin features a dog wearing a pink hat. It has simple Tokinomics, and its value, like other Internet-inspired meme coins, is driven by the community and the larger chain.

His success inspired similar meme coinages against Solana.

WIF has no utility. His website describes him as “just a dog with a hat.” That didn't stop traders from pushing the price to new highs and turning it into one of the best performing meme coins in 2024.

Despite the lack of resources, WIF has a strong user base. Token holders even launched a fundraising campaign to have a Dowwifhat icon at the Sphere, a popular entertainment venue in Las Vegas.

Key features and facts about WIF (as of March 2024):

Utility: No obvious utility. There is no roadmap, no burn method, and no DeFi. Just for fun.

Tokinomics:

Max Supply: 998 Million Total Supply: 998 Million Circulating Supply: 998 Million Market Capitalization: $2.6B

BONK

BONK is a popular Dogecoin inspired meme coin. It also adopts the Shiba Inu as its mascot and icon.

Unlike other token coins, BONK adopted a community-centric approach during its December 2022 launch, rather than opting for an initial coin offering (ICO) or pre-sale. He distributed 50% of the total supply through airdrops to active members of the Solana community and rewarded those who contributed to the expansion of the network.

Key features and facts about BONK

Utility: According to the project's white paper, BONK aims to integrate into dApps in Solana and serve as an incentive for user participation, becoming a mime coin on the network.

Community-centric approach: No pre-sale – distributed via airdrop to members of the Solana community.

BONK Tokenomics (as of March 2024):

Max Supply: 93.52 Trillion Circulating Supply: 65.82 Trillion Market Capitalization: $1.69 Billion

FLOKI

FLOKI is a symbol of the Floki ecosystem utility. It is built on the Ethereum blockchain but is BEP-20 compliant. This means users can exchange FLOKI tokens at a 1:1 ratio on the ETH-BSC bridge.

FLOKI is self-described as a “public crypto,” not just a movement dedicated to the Web 3 space and a dog-themed coin.

Unlike other commemorative coins, FLOKI focuses on being a hub for Web 3 fans.

FLOKI has several flagship projects that provide practical applications for the FLOKI token: Valhalla for gaming metaverse, FlokiFi for decentralized finance, FlokiPlus for NFTs and commodities, and Floki University for education, among others.

Key features and facts about FLOKI:

Utility: The primary currency and incentive for the Floki ecosystem and projects

Tokenomics (as of March 2024):

Peak Supply: 10 Trillion Total Supply: 10 Trillion Circulating Supply: 9.7 Trillion Market Capitalization $2.4 Billion

pepper

PEPE is an Ethereum-based mime coin. Like Dogecoin, it is inspired by one of the oldest memes on the internet – Pepe the Frog.

In the year Launched in April 2023, it quickly gained traction and reached the top 100 cryptocurrency ranking within two weeks. However, PEPE has no intrinsic value and provides no services other than speculation, making it one of the most volatile cryptocurrencies in the market.

It is largely driven by the online community and meme culture. Moreover, despite its anonymous founder, PEPE is one of the most active projects on social media, boasting nearly 650K followers on X (formerly Twitter).

In the year As of March 2023, PEPE ranks third in the meme coin leaderboard with a market capitalization of over $3.5 billion.

Key features and facts about PEPE (as of March 2024):

Utility: No utility, no clear road map and no regular team. The project's website clearly states that PEPE's focus is primarily on entertainment and capitalizing on the meme coin market.

Tokinomics:

Total Supply: 420 Trillion Peak Supply: 420 Trillion Circulating Supply: 420 Trillion Market Value. $3.5B

Dogecoin (DOGE)

The list of all meme coins would not be complete without the father – DOGE. In the year DOGE, which started in 2013 as a comedy about cryptocurrencies, has gained a large following and support from celebrities such as Elon Musk.

While other meme coins will see more explosives in the first three months of 2024, DOGE remains the largest meme coin by broad market capitalization – over $25 billion.

DOGE reached its peak in May 2021, with a market cap of over $85 billion at a peak of $0.75. That said, DOGE still has a lot of room for growth. It is currently the largest meme coin in popularity, boasting over three million followers on X.

Key features and facts about DOGE

Facility: No facility No road map.

Tokinomics:

No Maximum Supply Total Supply: 143 Billion Circulating Supply: 143 Billion Market Capitalization: $25.6 Billion