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TikTok Goes Crazy for Dogecoin, Shiba Inu and Pepe Coin As Memecoin Mania Sweeps Internet

Interest in meme coins surged to an all-time high on TikTok during the May 2023 crypto meme coin rally.

What Happened: According to data from CoinGecko, the interest in the memecoin hashtag peaked at the maximum level of 100 in May, suggesting that crypto TikTok has grown as a community on the platform.

Interest in meme coins like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) peaked and, as if that weren’t enough, a new meme coin rally started in late April led by Pepe and ArbDoge AI. This sparked an explosion of interest in memecoin among TikTok users.

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Why It Matters: In May alone, TikTok creators made a whopping 5,000 memecoin posts, constituting over a quarter of all memecoin content on the platform.

Some of the most enthusiastic audiences hailed from the United States, the United Kingdom, and Germany, racking up an impressive six, three, and two million views respectively.

Gen Z was a primary driver of this memecoin fever, comprising more than half of the audience for memecoin content. And while millennials aged between 25 and 34 years were also quite interested, those above 35 were a minority, possibly due to the younger overall age demographic of TikTok.

Price Action: At the time of writing, DOGE was trading at $0.07146, down 1.53% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Fall As Investors Track Debt Ceiling Progress: Trader Says ‘It Really Is Time’ For Apex Crypto To Reach Yearly-Highs

© 2023 Benzinga does not provide investment advice. All rights reserved.

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