- TikTok has grow to be a major platform for crypto meme coin lovers.
- Meme content material on the platform reached an all-time excessive through the Might 2023 rally.
- Gen Z dominates the #memecoin development on TikTok, adopted by millennials.
Current knowledge illustrates that TikTok has emerged as a strong platform for crypto lovers, notably these concerned with meme cash.
Based on knowledge from CoinGecko, TikTok curiosity in crypto meme cash hit an all-time excessive through the Might 2023 meme coin rally, with the #memecoin hashtag reaching its most stage.
The report famous that this surge in curiosity means that the crypto TikTok neighborhood is prospering, even within the face of a bearish market. It in contrast the earlier meme coin mania in November 2021 and noticed that the amount for #memecoin in Might 2023 was twice as excessive, indicating a rising urge for food for speculative belongings.
Dogecoin (DOGE) and Shiba Inu (SHIB) had been among the many most worthwhile meme cash throughout this era. Nevertheless, the meme rally was led by cash like Pepecoin (PEPE) and ArbDoge AI (AIDOGE), considerably rising TikTok customers’ curiosity in meme cash.
In April 2023, the hashtag’s curiosity stage rose to 38, in comparison with the 20s vary it had maintained for over a yr. In Might 2023, curiosity in #memecoin on TikTok grew by roughly 2.6 occasions in comparison with April.
In the course of the meme coin rally, TikTok creators generated round 5,000 posts tagged with #memecoin, accounting for 26.3% of all #memecoin content material on the platform. These posts garnered 33 million views, representing 19.0% of all #memecoin content material views on TikTok.
Notably, most TikTok customers concerned with #memecoin had been from the Gen Z age group (18 to 24 years previous), comprising 56% of the viewers. Millennials aged 25 to 34 made up the second-largest group at 29%, whereas customers above 35 had been a minority.
Apparently, TikTok customers in Bulgaria, Norway, Estonia, Iceland, and Denmark displayed the best curiosity within the #memecoin hashtag, surpassing the typical curiosity ranges by 4.5 to six.4 occasions.