The Avalanche Foundation has announced its plan to incorporate meme coins into its Culture Catalyst program. Meme coins are cryptocurrencies that originate from internet memes and viral trends. While they may lack the utility of mainstream cryptocurrencies, meme coins hold social value and represent online communities.

The Foundation will select meme coins based on criteria such as the number of holders, liquidity thresholds, project maturity, fair launch principles, and overall social sentiment. This move aligns with the Foundation’s strategy to expand across various crypto asset categories.

Following the announcement, the price of AVAX, the native cryptocurrency of Avalanche, experienced a 6% surge in the last 24 hours. Coq Inu (COQ), a meme coin launched on the Avalanche blockchain, has gained significant momentum and boasts a market capitalization exceeding $110 million.

Meme coins are expected to trend in 2024 as blockchains like Solana and Avalanche continue to support new meme token projects. The Avalanche Foundation aims to gain a first-mover advantage by embracing meme coins ahead of the curve.