In recent weeks, memecoins have probably been on the rise. Surprising, when you know that the crypto market continues to suffer from the horrors of the bear market. Obviously, the latter does not manage to impose its diktat on users from a certain number of countries.
Increased enthusiasm for memecoins in 5 countries
Could it be memecoin season? The answer to this question can be mixed. But what is certain is that the latest trends in memecoin flows around the world are quite positive.
This data is true for at least five countries of the globe. In any case, this is what a recent study conducted by CoinGecko and published Wednesday, May 3. The report signals a major uptrend in memecoins, especially in the US, India, and the UK.
CoinGecko’s figures regarding the popularity of memecoins in the crypto market of these countries are unequivocal. In the United States, for example, around 23.6% of users show interest in memecoins.
This figure is 20.3% for India. Besides the United Kingdom, the Philippines and Nigeria are also showing a certain enthusiasm for memecoins. Among these, it is particularly Shiba Inu (SHIB), the Pepe Coin (PEPE) and the Dogecoin (DOGE) that capitalize the attention of users.
These cryptos manage to impose themselves on the memecoin market, while the latter is regularly invaded by new cryptos. According to the CoinGecko report, this trend is not due to chance. Some mention in particular a weariness vis-à-vis “the toxic tokenomics of Alameda”, the subsidiary of FTX today in bankruptcy.
Mixed trends
However, there is a certain disparity in the interest of users for these memecoins. For example, Shiba Inu, Pepe Coin, and to a lesser extent Bonk and Volt Inu are more popular in the United States. In India, on the other hand, the most followed memecoins are Shiba Inu and Baby Doge Coin.
We see that SHIB capitalizes the most attention from users in these two countries. Which is not the case in Nigeria. Here, it is rather Floki, ArbDoge AI and Dogelon Mars that are of most interest. Meanwhile, Dogecoin is only prized in Morocco despite its strong capitalization.
Despite this disparity, memecoins are on the rise overall. A memecoin like PEPE, for example, increased by 1,833.71% in 16 days! Ditto for BONK, which has seen an increase of 582% in four months.
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