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Americans Lead the Memecoin Craze in 2023 (Study)

Americans Lead the Memecoin Craze in 2023 (Study)

CoinGecko research shows that memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), Floki Inu (FLOKI), and Pepe Coin (PEPE) are most popular in the United States. India and the United Kingdom come in second and third, respectively.

Although DOGE was the first memecoin, it has lost its leading position in several countries. Elon Musk’s favourite digital asset is only leading in one country, Morocco, which is in the top 10.

This Year’s Trends

CoinGecko’s study estimated that over 23% of global interest in memecoins is from the USA. The most popular asset is Shiba Inu at 60.7%, followed by Pepe Coin at 11.8%, Bonk, and Volt Inu.

India accounts for 20.3% of the overall craze, with Shiba Inu being the most interesting token there, followed by Baby Doge Coin.

The United Kingdom is the only European country on the top 10 list, accounting for 16% of global memecoin interest. CoinGecko did not provide information on which assets are popular among the Britons.

Floki Inu (FLOKI), which has seen over 300% YTD growth, is the most interesting asset in the Philippines and Nigeria.

PEPE is the recent sensation in the crypto sector and accounts for almost 27% of the local interest in Canada.

Dogecoin seems to lose steam this year, except for Morocco, where it receives 61.1% of the interest and remains Musk’s favourite token.

DOGE Remains a Fundamental Member of the Pack

Despite investors having new favourite memecoins, DOGE still holds its place among the top 10 largest cryptocurrencies by market cap and has gone up by 11% YTD.

Elon Musk is frequently involved in the DOGE scene and even temporarily changed the Twitter logo into the “Doge” meme, causing a surge of 25% in DOGE’s price.

Considering Musk’s plans to integrate DOGE payments on Twitter, it is not surprising if Dogecoin surges in the future.