Study Shows Americans Lead Global Interest in Memecoins in 2023, According to CoinGecko
Worldsfeed Tech Desk: CoinGecko, a popular cryptocurrency market data provider, has conducted a study revealing the countries that are most interested in memecoins, such as Dogecoin (DOGE), Shiba Inu (SHIB), Floki Inu (FLOKI), and Pepe Coin (PEPE). The study shows that Americans are at the forefront of the memecoin craze, followed by India and the United Kingdom.
Although DOGE was the first memecoin, it has lost its leading position in many countries. The only nation in the top 10 where DOGE captured the most interest is Morocco.
CoinGecko’s study estimated that over 23% of global interest towards memecoins comes from the United States, with the most popular memecoin being Shiba Inu (60.7%), followed by Pepe Coin (11.8%), Bonk, and Volt Inu.
India ranks second, accounting for 20.3% of the overall craze, with Shiba Inu again being the most popular token, followed by Baby Doge Coin.
The United Kingdom, the only European nation on the top 10 list, ranks third, making up about 16% of global interest in memecoins. However, CoinGecko did not reveal which assets are most desirable for Britons. Floki Inu (FLOKI), which has risen by over 300% YTD, is the most popular coin in the Philippines and Nigeria.
PEPE, the recent sensation in the crypto sector, is the most popular memecoin in Canada, accounting for nearly 27% of the local interest. It was launched in mid-April, and its market capitalization neared $1 trillion this week.
Despite new memecoins becoming more popular, DOGE remains a fundamental member of the pack. Its price has gone up by 11% YTD, and it still holds a place among the top 10 largest cryptocurrencies by market cap.
Elon Musk has been a frequent player in the DOGE scene. The South African entrepreneur, who acquired Twitter for $44 billion last year, temporarily changed the logo of the social media platform into a picture of the infamous “Doge” meme last month, causing the digital asset to soar 25% in the following hours. Musk has plans to eventually integrate DOGE payments on Twitter, which may cause the value of DOGE to surge in the future.
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