Meme coins have taken the world by storm in 2023, with the United States (US), India and the United Kingdom (UK) leading the charge. According to a report by Coingecko, these three countries have more than half of the meme coin fans this year. However, the study also found that meme coins have a global appeal and popularity, with Southeast Asia’s Philippines and Malaysia, Nigeria and Morocco on the African continent, Oceania’s Australia and New Zealand, and Canada also showing significant interest.
The US is leading the meme coin craze, accounting for 23.6% of the interest in 2023 so far. The most popular meme coin in the US this year is Shiba Inu, which generated 60.7% of US interest in meme coins. India is a close second in driving the meme coin hype this year, making up 20.3% of interest across all countries, with Shiba Inu also the most popular coin in India, driving 55.8% of the South Asian country’s interest in the speculative asset.
The study found that people are by far most interested in Shiba Inu, which drove 46.7% of interest among the top meme coins in 2023. 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%). It is worth noting that Pepe captured the most meme coin interest among people in Canada, accounting for 26.9%.
The report also highlighted the fact that different countries have different preferences when it comes to meme coins. For instance, Dogelon Mars generated 17.4% of Nigeria’s interest in meme coins, despite receiving limited interest share elsewhere. This suggests that people in the Philippines and Nigeria are also keeping an eye on the less well-known meme coins, instead of aping into those that are already trending.
The study examined the total number of page views year-to-date, for the top 15 meme coins by market capitalization on May 3, 2023. The report shows that meme coins have become a popular speculative asset, with Bonk’s price pump gaining attention earlier in the year, achieving over 300% price return in 8 days, compared to 141 days for Shiba Inu and 1,253 days for Dogecoin.
In conclusion, the meme coin craze continues to captivate the world, with the US, India and the UK leading the pack. However, the study also shows that meme coins have a global appeal and popularity, with different countries showing different preferences for the top meme coins. As with any speculative asset, investors should exercise caution and do their research before investing.
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