Meme coin craze highest in US, India, study reveals

A CoinGecko study shows that meme coins continue to take hold in several countries across the world, with the United States, India, and the United Kingdom leading the charge.

Data suggests the top 10 countries driving the craze and accounting for 82.9% of the interest, proving their appeal and popularity across diverse regions and economic development.

Meme coins are gaining significant traction in 2023, and the United States and India are leading the charge. Meme coins are recognized in crypto as altcoins based on internet memes.

According to recent data, the United States accounts for 23.6% of the interest in meme coins this year, with over 2m views on the top meme coin pages.

These pages show that Shiba Inu is the most popular meme coin in the country, driving 60.7% of interest. Other trending coins include Pepe, Bonk, and Volt Inu.

India as a major contributor

CoinGecko data also showed India is emerging as a significant contributor to the meme coin frenzy, accounting for 20.3% of interest worldwide. Shiba Inu is also the most favored coin in India, generating 55.8% of the country’s interest in speculative assets. 

Meanwhile, Baby Doge Coin has piqued considerable interest in India, driving 29.9% of the country’s overall interest in meme coins.

These figures indicate that meme coins are gaining popularity and mainstream acceptance in crypto despite, the supposed end to the bitcoin relief rally and general market uncertainty.