The rise of the meme coin mania in 2023 has taken the cryptocurrency world by storm, and a new report from CoinGecko shows that the trend is most popular in the United States, India, and the United Kingdom. These countries account for more than 50% of all meme coin fans this year, indicating strong interest in these assets.
But the appeal of meme coins goes beyond that. The report also highlights the popularity of these coins in other regions, including the Philippines and Malaysia in Southeast Asia, Nigeria and Morocco in Africa, Australia and New Zealand in Oceania and Canada. This diverse mix of countries suggests that meme coins have global appeal.
From the US to India, the global phenomenon of meme coins is on the rise
The top 10 countries leading the meme coin craze in 2023 make up the majority of interest in these assets and represent 82.9% of all fans. This indicates that while meme coins may have started as a niche trend, they have quickly gained a worldwide following.
According to the report, the United States will be at the forefront of the meme coin craze in 2023, accounting for a whopping 23.6% of global interest in these speculative assets. With over 2 million views on the top meme coin pages, it is clear that Americans are embracing this new type of cryptocurrency.
The report shows that the most popular meme coin in the US this year is Shiba Inu, which generated 60.7% of all US interest in meme coins. This is not surprising given the recent surge in the coin’s popularity due to celebrity endorsements and high-profile mentions on major cryptocurrency exchanges.
Closely followed by Shiba Inu is Pepe, a trending cryptocurrency that recently gained 11.8% of meme coins in the US. Other popular meme coins in the country include Bonk and Volt Inu, which generated 5.7% and 4.9% of US interest, respectively.
Moreover, by 2023, India will be the second largest driver of the meme coin hype, accounting for 20.3% of all interest in the countries. Shiba Inu is the most popular coin in India, generating 55.8% of the country’s interest in these speculative assets. Baby Doge Coin also received a relatively high share of interest, with 29.9% of Indian meme coins.
Floki is the most popular meme coin in the Philippines, generating 26.7% of the country’s interest in these assets. Shiba Inu and Bonk also received similar interest rates of 18.3% and 17.8% respectively. Baby Doge Coin and Pepe followed closely behind, with 12.7% and 10.2% of Philippine meme coins, respectively.
Shiba Inu reigns supreme
According to the report, Shiba Inu is the most popular meme coin among investors in 2023, with 46.7% of interest in the top meme coins.
Baby DogeCoin is the second most popular, generating 12.3% of investor interest. This is followed by more recent coins, Pepe (9.4%), Floki (8.6%) and Bonk (8.2%). In addition, Pepe received the most interest in Canada, accounting for 26.9% of all interests in the country.
Interestingly, while Dogecoin was a pioneer of meme coins, it only generated 61.1% of interest in Morocco and gained only minor interest in the other countries surveyed.
Overall, CoinGecko’s report shows that meme coins are growing in popularity and are a factor to be reckoned with in the cryptocurrency market. As new coins emerge and gain traction, it will be interesting to see how this market develops and whether meme coins will continue to be a dominant trend in the cryptocurrency world.
Featured image of Unsplash, chart from TradingView.com
