Viral Memecoin Tokens have gained significant traction in the cryptocurrency market, amassing billions in valuation by 2024. From the rise of Fartcoin and WYAC to Peanut the Squirrel Coin, these tokens challenge traditional Crypto norms. Making tokens based on short-lived viral events has been a standard practice in the cryptocurrency industry. Fun on Solana has made the production of meme coins simpler than it has ever been. Additionally, this year has seen the debut of tokens by several celebrities and high-profile personalities; nonetheless, here at Cointelegraph, we are re-running some of the ridiculous meme coins published in 2024.
Fartcoin’s Rise and Fall
The public first had access to Fartcoin (FART) in October 2024. With the help of a few purchasers, its value increased to more than one billion dollars. Despite being a joke ticket with no practical use, it reached its peak price of $1.31 billion midway through December. Although this coin’s value on the market has decreased to $860 million, Pump.fun believes it is the best option. A greater number of people are familiar with the fart-based currency thanks to Stephen Colbert, who presents The Late Show on CBS. For now, Fartcoin is the only memecoin that generates revenue via its humorous nature.
Woman Yelling at Cat
The meme that has been popular for a long time and combines two photos to make it seem like a woman is pointing, yelling, and sobbing at a puzzled cat has also been turned into a memecoin this year. The token, Woman Yelling At Cat (WYAC), is an innovative representation of the meme. Taylor Armstrong, who plays the lady role in the meme rather than Cat, introduced the token to the public in June. This fact places the token in the same category as celebrity members.
The value of WYAC hit its highest point on October 21 when it was just October 21. Still, it has since fallen to less than $4 million as of December 31, as a reported December 31 photograph of Armstrong was taken during an episode of Real Housewives in which she confronts another cast member about rumours about her ex-husband, who committed himself amid charges of abuse. It would seem that Armstrong is now using the meme and the token to raise awareness for organizations that deal with domestic abuse.
Peanut The Squirrel Coin
Peanut the Squirrel (PNUT) is a token created in honour of a squirrel with the same name that was put down on November 1 by the New York State Department of Environmental Conservation (NYSDEC) to conduct a rabies test on it. The squirrel bit an official who was participating in an investigation. However, the squirrel had been in the care of Mark Longo, an amateur pornographer, since 2017, which is against the law in the state of New York. During this time, he had established a following on several social media platforms.
Peanut was taken into custody in October and killed a few days later to undergo rabies testing after biting a New York State Department of Environmental Conservation officer. This sparked an outrage on the internet. There is no mechanism to test a living animal for rabies. On November 1, PNUT appeared, and on November 14, it reached its November 14 worth of $2.27 billion. Since then, it has declined, falling below $650 million.
There is evidence that mere ridiculousness may be a driving factor in the chaotic memecoin side of the cryptocurrency market. This is true regardless of whether the source of the meme coins is viral animals or farts. Here are a few instances of Internet culture creating financial markets that yield profitable results for those fortunate enough to access them, such as WYC and PNUT.
Related: Pepe Memecoin Price Fluctuations And Market Trends in 2024
Summary
In 2024, Viral Memecoin Tokens are worth more than $60 billion, making them a big part of the cryptocurrency market. Viral Memecoin Tokens like Fartcoin (FART), Woman Yelling at Cat (WYAC), and Peanut the Squirrel Coin (PNUT) have gotten a lot of attention. In October 2024, Fartcoin emerged, reaching a peak value of $1.31 billion before plummeting to $860 million.
Stephen Colbert and The Late Show on CBS backed it. Taylor Armstrong created WYAC in June based on a popular joke. It ran for a short time at $52 million before dropping below $4 million. We created the PNUT to honour a squirrel whose death sparked significant debate. Its value peaked at $2.27 billion but dropped to less than $650 million. These meme coins show how pop culture on the internet can affect financial trends.
