Meme coins continue to be prevalent in 2023, and the recent growth of PEPE shows that investors still find these tokens to be exciting, according to a recent analysis by Coingecko, the United States, India, and the United Kingdom account for more than half of the ten top nations where people are most interested in meme coins.
The Meme Coin Frenzy Goes Global, According To The Latest Report
Coingecko.com, a cryptocurrency market aggregator, published a study on the top ten nations driving the meme token movement on May 3, 2023. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are the top three meme coins, with the meme coin economy being valued at $18.25 billion. With a 216% boost versus the US dollar this week, PEPE has taken the lead in terms of seven-day gains.
According to the Coingecko analysis, the United States will dominate the meme coin trend with 23.6% of interest in 2023. According to researcher Lim Yu Qian, two million views come from popular meme coin pages in the US. One of the most popular meme coins is Shiba Inu (SHIB), which is closely followed by other sought-after coins such as Pepe (PEPE), Bonk (BONK), and Volt Inu (VOLT).
India ranks second with 20.3% of interest in the meme coin fever. SHIB is also among India’s most popular meme tokens, followed by Baby Dogecoin (BABYDOGE). The favored tokens in the Philippines are Floki Inu (FLOKI), and Nigeria prefers Floki and Arbdoge ai. Coingecko’s analysis suggests that less well-known meme coins are also gaining popularity in both nations.
According to the analysis, Shiba Inu was the most popular meme coin in 2023, driving 46.7% of interest among the top meme coins. Baby Doge Coin accounted for 12.3% of the overall interest in meme coins, whereas other recent meme coins like Pepe (9.4%), Floki (8.6%), and Bonk (8.2%) ranked second, third, and fourth, respectively.
The research implies that PEPE commands a market share of 26.9% in Canada, while dogecoin (DOGE) takes first place in Morocco. The research’s approach involved using the total page views for the top 15 meme currencies by market capitalization in May 2023.