Shiba Inu Tops Most Popular Meme Coin List in US and India

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Shiba Inu Tops Most Popular Meme Coin List in US and India

Last updated on May 18th, 2024 at 12:00 pm

Today, CoinGecko shares the results of their recent research which placed Shiba Inu as the most popular meme coin in the US and India.  The study structured the data according to country and region.

The data implies a growing interest in the token this year. The study considered the top 15 meme-based tokens by market capitalization by looking at the total number of their page views this year.

According to the result which was shared via a Twitter thread, the United States could be seen to lead the charge with over 2M views of the top meme coin pages. The US accounts for 23.6% of the interest in 2023 so far.

Shiba Inu tops in the US and India

As stated in the report, Shiba Inu beats the trending meme coin $PEPE and $BONK to garner 60.7% of US interest in meme-based coins so far in 2023. This places it in the first position as the most popular meme coin in the country. However, $PEPE drove 11.8% of interest in the US followed by $BONK and $VOLT.

Similarly, Shiba Inu also tops the chart in India as the most popular with over 55.8% of the country’s meme coin interest. Also, India accounts for 20.3% of global interest in meme coins. Baby Doge coin follows as the second most popular meme coin in India. In addition, Shiba Inu is the second-most popular meme-based coin in the Philippines with 18.3% interest.

Per CoinGeko, meme coins are also quite popular in countries like Southeast Asia, Morocco, Australia, New Zealand, and Canada. In Nigeria, FLOKI, AIDOGE, and ELON are the most popular meme coins.

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In 2023, Shiba Inu accounts for 46.7% of interests among the top-listed meme tokens. This makes it overall the most popular meme cryptocurrency according to the analysis issued by CoinGeko.

Why Shiba Inu is gaining popularity

Since the start of 2023, Shiba Inu has been in the news mostly for good reasons. That said, it is no surprise that the coin has gathered much popularity so far. In spite of the market’s volatility and ongoing crypto winter, Shiba Inu has grown up to 22.3% this year to date.

One of the developments that have fueled Shiba Inu’s adoption this year is the launch of the beta version of Shibarium, a layer-2 scaling solution. PuppyScan, a dedicated blockchain explorer for the Shibarium beta project reports that over 14.05 million wallets have been connected to the network. Also, a total of 4.71 million transactions have been recorded so far.

Other events include the current Shiba Inu burn campaign which has seen millions of SHIB tokens getting burned every day. In April so far, 3.26 billion SHIB has been burned in different transactions. Because of these developments, Shiba Inu is gaining massive popularity, and cryptocurrency investors globally are paying attention.

Shiba Inu Price Today

According to live data from CoinMarketCap, Shiba Inu is currently trading at $0.000010 USD. It is placed at #15 on the CoinMarketCap chart with a live market cap of $5,840,495,998 USD.

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Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.