CoinGecko’s recent research report, “Top Meme Coin Countries 2023”, reveals a fascinating snapshot of the global passion for meme coins.
A study released by CoinGecko, titled “Top Meme Coin Countries 2023,” discloses that the lion’s share of the meme coin frenzy this year is driven by the United States, India, and the United Kingdom, which collectively accounts for more than half of the meme coin enthusiasts worldwide. In addition to these countries, the meme coin phenomenon has also gained traction in regions as diverse as Southeast Asia, including the Philippines and Malaysia, Africa’s Nigeria and Morocco, Oceania’s Australia and New Zealand, and Canada.
This heterogeneous mix of countries, representing varied degrees of economic progression, clearly demonstrates that meme coins have garnered global appeal. These top ten countries form 82.9% of the total interest in these high-risk, high-reward assets in 2023.
Leading the pack is the United States, contributing 23.6% to the overall meme coin hype this year, evidenced by over 2 million visits to top meme coin pages. The meme coin sensation in the US is dominated by Shiba Inu, which is responsible for 60.7% of the country’s meme coin interest. Other trending cryptocurrencies, such as Pepe, Bonk, and Volt Inu are also gaining momentum in the US.
India closely trails the US in fueling the meme coin hype, accounting for 20.3% of the global interest. Just like in the US, Shiba Inu holds the top spot in India, driving 55.8% of the country’s meme coin interest. However, Baby Doge Coin has also caught the eye of Indian investors, generating a significant 29.9% of the country’s interest in meme coins.
In the Philippines, the meme coin landscape shows a different picture, with Floki leading the pack, contributing to 26.7% of the national interest in meme coins this year. Shiba Inu and Bonk are not far behind, accounting for 18.3% and 17.8% of the interest, respectively. Baby Doge Coin and Pepe also garner attention, with 12.7% and 10.2% of the meme coin interest in the Philippines, respectively.
The situation in Nigeria presents another unique pattern. Floki and ArbDoge AI are the top contenders, capturing 24.2% and 20.8% of Nigeria’s meme coin interest, respectively. Dogelon Mars, despite its limited interest elsewhere, has carved out a niche in Nigeria, securing 17.4% of the country’s interest in meme coins. These findings suggest that Filipino and Nigerian investors are exploring beyond the mainstream meme coins, showing interest in less popular but potentially promising options.
Regarding the most sought-after meme coins globally, Shiba Inu takes the crown, driving 46.7% of the total interest in meme coins in 2023. Baby Doge Coin trails behind with 12.3% interest, followed by the rising stars Pepe, Floki, and Bonk, garnering 9.4%, 8.6%, and 8.2% of the interest, respectively.
The Canadian meme coin landscape is dominated by Pepe, which accounts for 26.9% of the interest. In contrast, Morocco’s meme coin market is significantly influenced by Dogecoin, which captures 61.1% of the interest but has a relatively minor influence in other countries.
The Solana-based Bonk gained significant attention earlier this year due to its impressive performance, boasting over 300% price return in 8 days. This starkly contrasted with Shiba Inu and Dogecoin, which took 141 and 1,253 days to achieve the same returns.
CoinGecko’s analysis was based on the total number of page views year-to-date for the top 15 meme coins by market capitalization as of May 3, 2023. The coins examined include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Baby Doge Coin (BABYDOGE), FLOKI (FLOKI), Dogelon Mars (ELON), ArbDoge AI (AIDOGE), Volt Inu (VOLT), Wojak (WOJAK), Kishu Inu (KISHU), Dejitaru Tsuka (TSUKA), Doge Killer (LEASH), Shiba Predator (QOM), Bonk (BONK), and DinoLFG (DINO).