Nigeria and Morocco Among Top 10 Globally in 2023 Meme Coins Craze

Nigeria and Morocco Among Top 10 Globally in 2023 Meme Coins Craze – BitcoinKE

According to a Q2 2023 analysis by CoinGecko, Nigeria and Morocco are among the top ten countries in the world when it comes to popularity of meme coins.

CoinGecko analyzed the total number of page views year-to-date, for the top 15 meme coins by market capitalization in early May 2023:

Meme coins are a type of cryptocurrency that have gained popularity due to their association with internet memes and social media culture. They are usually created as a parody or joke and may have no practical use or value beyond their entertainment or novelty value.

Some of the most well-known meme coins include DogeCoin, Shiba Inu, and SafeMoon, which were all created based on internet memes and went on to gain a significant following in the cryptocurrency community.

The latest meme coin that has taken the crypto community by storm is PepeCoin ($PEPE).

PepeCoin has experienced a very fast rise which has been termed bewildering given that it was started a mere weeks ago but is now worth more than $1 billion in market capitalization.

The coin is based on the ‘Pepe the Frog’ meme, a popular symbol in crypto circles. Launched in April 2023, the meme coin’s market capitalization astonishingly surpassed $1 billion on May 5 2023, and according to CoinGecko, at one point was worth more than Arbitrum’s $ARB, which is also among the hottest newly issued tokens of 2023.

“A pseudonymous trader named dimethyltryptamine.eth spent $263 just three weeks ago to buy trillions of PEPE tokens. That former pittance has turned into $3.8 million in profits from tokens they’ve already sold, and their remaining holdings are worth about $9 million, according to data by blockchain research firm, Arkham Intelligence.

That’s an almost 5,000,000% profit.”

According to CoinGecko, the United States and United Kingdom lead in meme coin popularity with more than half of fans based in those countries.

Below is the list of ten countries that top the world when it comes to meme coins so far in 2023:

1.) United States

2.) India

3.) United Kingdom

4.) Phillipines

5.) Nigeria

6.) Australia

7.) New Zealand

8.) Canada

9.) Malaysia

10.) Morocco

In total, the top 10 countries leading the meme coin craze in 2023 make up 82.9% or the majority of interest in the speculative assets, CoinGecko says.

The United States leads the meme coin craze by accounting for 23.6% of the interest in 2023 so far with over 2 million views of the top meme coin pages. The most popular meme coin in the United States in 2023 is Shiba Inu which generated 60.7% of interest in meme coins. Pepe drove another 11.8% of meme coin interest in the U.S, followed by Bonk and Volt Inu, according  to the analysis.

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%)

In Nigeria, Floki and ArbDoge AI captured the highest interest at 24.2% and 20.8% respectively. Dogelon Mars generated 17.4% of Nigera’s interest in meme coins despite receiving limited interest share elsewhere.

On the other hand, pioneer Dogecoin generated 61.1% of Morocco’s interest in meme coins.

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