Global Meme Coin Economy Reaches $18.25 Billion

A recent report by crypto market aggregator Coingecko has revealed the top ten countries driving the meme token trend. The meme coin economy currently stands at a staggering $18.25 billion, with dogecoin (DOGE), shiba inu (SHIB), and pepe (PEPE) leading the pack. This week, PEPE experienced a 216% surge against the U.S. dollar, emerging as the frontrunner in seven-day gains.

United States at the Forefront of Meme Coin Interest

According to Coingecko’s analysis, the U.S. leads the meme coin movement, accounting for 23.6% of interest in 2023. Researcher Lim Yu Qian notes that top meme coin pages in the United States have generated two million views. SHIB is the most popular meme coin in the country, followed by PEPE, bonk (BONK), and volt inu (VOLT).

India and the Philippines Following Closely Behind

India holds the second spot in meme coin interest, contributing 20.3% of the total. SHIB takes the lead as India’s most popular meme token, followed by baby doge coin (BABYDOGE). In the Philippines, floki inu (FLOKI) ranks as the most preferred token, while Nigeria favors floki and arbdoge ai. Coingecko’s report also highlights the growing traction of lesser-known meme coins in both countries.

PEPE and DOGE Dominate Canadian and Moroccan Markets

The research shows that PEPE captures 26.9% of attention in the Canadian market, while dogecoin (DOGE) holds the top position in Morocco. To determine these results, the study used the total page views for the top 15 meme coins by market capitalization in May 2023.