Bruce Dias 
Meme coins are a unique but unpredictable sector in the cryptocurrency market. Unlike traditional digital assets with strong utility and technical innovation, meme coins thrive on community hype, social media trends, and speculative trading. They often witness explosive growth during bull runs, sprang from the Fear of Missing Out (FOMO) and influencer endorsements. However, their high volatility also means they can go through sharp corrections.
If you want to add meme coins to your portfolio, it’s essential to research how they behave during bull runs, to know how to act in the present crypto market.
How Meme Coins Typically Behave in a Bull Run
Meme coins follow distinct behavioral patterns in bull markets, different from traditional cryptocurrencies.
Unlike Bitcoin or Ethereum, which often follow steady price trends, meme coins can see overnight surges of 1,000% or more, followed by steep corrections. Their price action is often unpredictable and driven by speculation rather than fundamentals. Hence you will notice that the Pepecoin price skyrockets for short periods during bull runs.
Platforms like Twitter, Reddit, and TikTok play a crucial role in meme coin rallies, and together with influencer endorsements and viral trends they can propel prices upward within hours. Elon Musk’s tweets, for example, repeatedly triggered DOGE price spikes in 2021.
Many meme coin investors are often retail traders looking for quick gains and they usually are the victims of a cycle where fear of missing out (FOMO) leads to price surges, followed by panic selling when momentum slows. Some meme coins fade after a bull run, while others evolve into sustainable ecosystems.
How Meme Coins Performed in Previous Bull Runs
2017 Bull Run: The Early Days of Meme Coins
The 2017 crypto bull run, driven by the Initial Coin Offering (ICO) boom, had limited meme coin involvement. Dogecoin was already in existence and experienced a 900% price increase, reaching nearly $0.02 in January 2018. Despite this, DOGE remained largely a niche cryptocurrency used for tipping and microtransactions, with no significant mainstream adoption.
At the time, the concept of meme coins as a serious investment was not yet widespread. The 2017 cycle was dominated by Bitcoin, Ethereum, and new ICO projects. Meme coins did not reach the level of speculation and social media-driven rallies seen in 2021, but Dogecoin’s performance in this period set the stage for what was to come.
2021 Bull Run: The Era of Dogecoin and Shiba Inu
The 2021 bull run marked the most significant growth phase for meme coins, turning them from internet jokes into multi-billion-dollar assets. The frontrunner of this surge was Dogecoin (DOGE), which skyrocketed from below $0.01 in early 2021 to an all-time high of $0.73 in May. This price increase was largely driven by Elon Musk’s vocal support on Twitter and growing mainstream adoption. At its peak, Dogecoin had a market capitalization of over $80 billion, briefly making it one of the top five cryptocurrencies.
Following Dogecoin’s success, Shiba Inu (SHIB) emerged as the “Doge killer.” Launched in 2020, SHIB saw unprecedented growth, surging by over 85,000,000% from its launch price. Unlike Dogecoin, which operates as a basic peer-to-peer cryptocurrency, Shiba Inu introduced additional utility, including ShibaSwap (a decentralized exchange), an NFT ecosystem, and later the Shibarium layer-2 blockchain. This expansion helped SHIB maintain relevance even after the bull run cooled off.
The 2021 bull market also saw the rise of numerous other meme coins, many of which were inspired by DOGE and SHIB. Some projects managed to gain temporary traction, but only a few have sustained interest into 2024. The lesson from this cycle was clear: while meme coins can generate massive short-term profits, only those with strong community backing and real-world adoption tend to survive beyond the hype.
Ultimate Meme Coins Expected to Perform Well in the Next Bull Run
As the crypto market gears up for its next major rally, certain meme coins are positioned to benefit the most.
1. Dogecoin (DOGE)
Dogecoin remains the undisputed leader in the meme coin space. Despite its origins as a joke, DOGE has maintained a dedicated community and is still among the top cryptocurrencies by market cap.
Tesla and SpaceX have previously accepted DOGE for payments, and Musk continues to reference it in public statements, which could only benefit it.
2. Shiba Inu (SHIB)
Shiba Inu is more than just a meme coin—it has developed into a full ecosystem, including Shibarium (a layer-2 blockchain), NFT projects, and decentralized finance (DeFi) applications. Shibarium increases scalability through lower transaction fees and faster processing times which could drive more adoption. Additionally, SHIB has a burn mechanism, which gradually reduces its circulating supply over time.
3. Pepe (PEPE)
Pepe is a relatively new meme coin inspired by the popular internet meme. Despite launching in 2023, it has already gained significant attention in the crypto space. Pepe memes are already widely recognized, making it easier for PEPE to gain traction. PEPE’s initial success shows it has an engaged user base that could fuel another rally, and some decentralized exchanges have begun integrating PEPE into their platforms.
4. Floki Inu (FLOKI)
Floki Inu emerged as another dog-themed meme coin but differentiated itself through real-world utility projects. The team behind FLOKI has focused on building a metaverse, NFT marketplace, and educational initiatives. FLOKI’s “Valhalla” project aims to create a play-to-earn gaming experience.
5. Bonk (BONK)
Bonk is a Solana-based meme coin that gained massive popularity in late 2023, primarily due to its airdrop campaign and integration within the Solana DeFi ecosystem. The low transaction fees and high-speed processing make BONK attractive for traders. As Solana grows, BONK is likely to gain more adoption.
Last words
Meme coins are among the most high-risk, high-reward assets in the crypto space. Their behavior during bull runs is driven primarily by speculation, hype, and community engagement, rather than fundamental value.
If history repeats itself, Dogecoin and Shiba Inu are likely to lead the next rally, given their established presence and ongoing ecosystem developments. However, newer meme coins like PEPE, FLOKI, and BONK could also see significant gains, provided they maintain strong communities and expand their real-world use cases.
Investors should approach meme coins with caution, as their prices can be highly volatile. While some traders have made substantial profits in past bull runs, others have been caught in sharp downturns. As always, conducting thorough research and managing risk is crucial when investing in speculative assets like meme coins.
