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Study Reveals Top Countries Driving Meme Coin Interests in 2023 – Altcoins Bitcoin News
In 2023, meme coins have maintained their popularity and the recent increase of PEPE shows that investors are still enthusiastic about meme-centric tokens. A recent study by Coingecko reveals that a significant part of the meme coin fascination originates from the US, India and the UK, comprising over half of the top ten countries’ interest in the meme coin phenomenon.
Report Reveals Global Meme Coin Fever
On May 3, 2023, crypto market aggregator coingecko.com unveiled a report detailing the top ten countries driving the meme token trend. As of this writing, the meme coin economy is valued at $18.25 billion, with dogecoin (DOGE), shiba inu (SHIB), and pepe (PEPE) as the top three meme coins. This week, PEPE has emerged as the front-runner in terms of seven-day gains, skyrocketing 216% against the US dollar.
The Coingecko analysis states that the US is at the forefront of the meme coin movement, accounting for 23.6% of interest in 2023. Researcher Lim Yu Qian explains that two million views originate from the top meme coin sites in the US. In America, shiba inu (SHIB) is the most sought after meme coin, followed by pepe (PEPE), bonk (BONK) and volt inu (VOLT).
India holds the second place in contributing to the meme coin frenzy with 20.3% of the interest. SHIB also gets its position as India’s most popular meme token followed by baby doge coin (BABYDOGE). In the Philippines, floki inu (FLOKI) tops the list of preferred tokens while Nigeria’s favorites are floki and arbdoge ai. According to Coingecko’s report, lesser-known meme coins are also gaining traction in both countries.
“People are by far the most interested in shiba inu, which led to 46.7% of interest among the top meme coins in 2023,” the analysis notes. “Baby doge coin generated 12.3% of meme coin interest, followed by more recent meme coins pepe (9.4%), floki (8.6%) and bonk (8.2%).
The research indicates that PEPE dominates the Canadian market with 26.9% of the attention, while dogecoin (DOGE) claims the top spot in Morocco. In terms of methodology, the study used the total page views of the top 15 meme coins by market cap in May 2023.
Which meme coin do you think will be the next big sensation in the crypto world? Share your thoughts and predictions in the comments below.
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