According to a recent study from Coingecko, meme coins continue to hold their popularity in 2023. The recent surge of PEPE exemplifies that investors remain enthusiastic about meme-centered tokens. Coingecko's study indicates that a significant portion of the fascination with meme coins comes from the United States, India, and the United Kingdom, accounting for more than half of the top ten countries driving the meme coin phenomenon.
As of May 3, 2023, the meme coin economy has a value of $18.25 billion, with dogecoin (DOGE), shiba inu (SHIB), and pepe (PEPE) as the top three meme coins. PEPE has emerged as the frontrunner in terms of seven-day gains, soaring 216% against the U.S. dollar this week.
The Coingecko analysis reveals that the United States leads the meme coin movement, accounting for 23.6% of interest in 2023. Researcher Lim Yu Qian explains that two million views originate from the top meme coin pages in the United States. In America, shiba inu (SHIB) is the most popular meme coin, followed by pepe (PEPE), bonk (BONK), and volt inu (VOLT).
India is in second place, contributing 20.3% of interest in the meme coin frenzy. SHIB also earns its position as India's most popular meme token, followed by baby doge coin (BABYDOGE). Floki inu (FLOKI) tops the list of preferred tokens in the Philippines, while floki and arbdoge ai are favorites in Nigeria. Coingecko's report notes that lesser-known meme coins also gain traction in both countries.
The analysis further notes that "people are by far most interested in shiba inu, which drove 46.7% of interest among the top meme coins in 2023." Baby doge coin generated 12.3% of meme coin interest, followed by more recent meme coins pepe (9.4%), floki (8.6%), and bonk (8.2%).
PEPE dominates the Canadian market with 26.9% of attention, while dogecoin (DOGE) claims the top spot in Morocco. The study utilized the total page views for the top 15 meme coins by market capitalization in May 2023 to reach its conclusions. Coingecko's research indicates that the meme coin phenomenon has continued to hold strong in 2023 and shows no signs of slowing down.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.