What the numbers say: A recent research from the crypto data website CoinGecko has examined the interest volume for the hashtag "#memecoin" on TikTok. The results have shown that the interest in meme coins among TikTok users reached an all-time high in May this year. The skyrocketed interest was attributed to the second meme coin rally that started with the launch of the PEPE coin in mid-April. The research has also pointed out that the previous peak was seen in November 2021, with the first meme coin rally having the wind of Dogecoin (DOGE) and Shiba Inu (SHIB) at its back. However, the interest broke a record again this month after steady progress for more than a year, doubling the previous peak. Details: CoinGecko's report also revealed that the users between 18 and 24 years old were the ones who showed the most interest in meme coins, with a 56% rate. This age group was respectively followed by the ones between 25 and 34 and those over 35. Besides, Bulgaria, Norway, Estonia, Iceland, and Denmark have become the top five countries where TikTok users are most interested in meme coins, with interest levels 4.5 to 6.4 times higher than average. Relevance: Another CoinGecko report, which analyzed the total number of page view shares for the largest 15 meme coins by market cap, also recently indicated that the U.S. is leading the way in the meme coin craze, with a 23.58% rate. On the top three, India and the U.K. followed the U.S., with 20.31% and 16.35%, respectively. The analysis also revealed that these three countries host more than half of the meme coin fans. What it means: A meme coin is a type of cryptocurrency originating from an internet meme and mostly having some humorous characteristics. The first meme coin was DOGE, and it was created as just a parody of Bitcoin (BTC), though it later became enormously famous in its own right. Brands that should care: The second meme coin rally is also expected to pave the way for increased interest in meme coins on other social media platforms, such as Instagram and Twitter, in the near term. |
