US tops global interest in meme coins: CoinGecko report

The US has emerged as the leading nation in interest for smaller market capitalization crypto, commonly referred to as ‘shitcoins’ or meme coins, with a 16.8% share of global activity, according to a report by data aggregator CoinGecko. Those investors are known by the crypto community as ‘degens.’

The UK and the Philippines are not far behind, capturing 6.2% and 5.1% of the interest, respectively. The report analyzed data gathered by on-chain decentralized exchange (DEX) trackers.

The top 25 countries in this category, dubbed ‘crypto degen nations,’ collectively account for 77.8% of the speculation interest on-chain. Southeast Asian countries are also prominent in the list, with Indonesia holding a 4.0% share, Vietnam at 2.9%, Thailand at 1.2%, and Malaysia at 0.9%.

Nigeria stands out as the only African nation in the top 25, with a 3.9% share, placing it sixth in terms of interest. Within the European Union, France leads with a 4.4% share, followed by the Netherlands at 3.0% and Poland at 2.4%. Overall, six EU member states are among the top 25 crypto degen countries.

It is noteworthy that 18 of the 25 most engaged countries are members of the G20, highlighting the economic significance of these nations in the global crypto landscape.