Crypto TikTok Trends: Meme Coin Interest Peaks
TikTok interest in crypto meme coins reached an all-time high during the May 2023 crypto meme coins rally, with interest for the #memecoin hashtag peaking at the maximum level of 100. Crypto’s meme coins narrative gained popularity on TikTok despite the bearish crypto market, suggesting that crypto TikTok has grown as a community on the platform.
In fact, the May 2023 volume for #memecoin was double the highest level in the 2021 meme coin mania, when it reached 49 in November 2021. Buoyed by the larger crypto bull market, the first meme coin rally had shown the possibility of becoming meme coin millionaires, with Dogecoin (DOGE) and Shiba Inu (SHIB) emerging as some of the most profitable speculative assets.
The recent 2nd meme coin rally started at the end of April 2023, led by Pepe (PEPE), ArbDoge AI (AIDOGE) and others. This was reflected in TikTok users’ increased interest in #memecoin, which rose to a level of 38 in April 2023, after hovering in the 20s range for over a year. TikTok users’ interest in the #memecoin hashtag grew by around 2.6 times in May 2023, compared to April.
#memecoin Content & Views on TikTok
TikTok creators made around 5,000 posts tagged with #memecoin during this period, which accounts for 26.3% of all #memecoin posts in total on the social media platform. In other words, at least 1 in 4 of all #memecoin TikTok content was created during the month of 2023’s meme coin rally, as TikTok becomes an increasingly relevant channel for crypto.
For the same period, TikTok recorded 33 million views of #memecoin content, which represents 19.0% of all #memecoin content views. Some of the countries that accounted for the highest share of #memecoin interest were the US (6 million views), UK (3 million), Germany (2 million), while Indonesia, Australia and Canada recorded 1 million views each in May 2023.
TikTok Users Interested in #memecoin, by Age Range
| Age Range | Percentage of Viewers |
|---|---|
| 18-24 years old | 56% |
| 25-34 years old | 29% |
| 35+ years old | 15% |
More than half of the TikTok audience for #memecoin content are Gen Zs, with 56% of the viewers being 18 to 24 years old. The dominance of Gen Z interest in #memecoin is in line with their keen participation in FinTok (financial TikTok).
The second most interested age group was millennials between the ages of 25 to 34, who represented almost 3 in 10 viewers (29% of audience). Those above the age of 35 years old were the minority at 15%, which might partly be due to the younger demographics of TikTok users as a whole.
Based on the data, crypto marketing on TikTok might perform better when it is tailored to the primary audience of Gen Zs and millennials.
What Countries are TikTok Users Interested in #memecoin From?
| Rank | Country | Popularity Score (Average Popularity = 100) |
|---|---|---|
| 1 | Bulgaria | 643 |
| 2 | Norway | 512 |
| 3 | Estonia | 471 |
| 4 | Iceland | 469 |
| 5 | Denmark | 456 |
TikTok’s #memecoin hashtag was most popular in Bulgaria, Norway, Estonia, Iceland and Denmark, where interest levels were 4.5 to 6.4 times above average. This suggests that European TikTok users tend to be more receptive to and engaged with crypto content on the social media platform, compared to TikTok users elsewhere.
The most interested #memecoin countries on TikTok are different than the top meme coin countries checking for prices on CoinGecko, which further indicates that the European audience can be best reached through TikTok.
As such, crypto marketers can use this insight by focusing TikTok efforts on the Europe market when creating meme coin-related or similar content.
Methodology
The study examined TikTok interest over time for the hashtag ‘#memecoin’, based on interest volume data from TikTok Creative Center as of May 25, 2023. The scores represent relative volume compared to the trend’s peak volume of 100.
TikTok’s disclaimer for age range data: The approximate percentage of viewers associated with different age ranges. Only available for age ranges above 18 years old.
TikTok’s disclaimer for location data: The top locations in the world where this term is most popular. The value represents an index score. Example: If the score is 200, the trend is 2x as popular in this market compared to its average popularity on TikTok worldwide.
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Curious to find out more about our previous research studies? Check out this one we did on metaverse land prices.
Yuqian is a crypto research analyst at CoinGecko, covering a range of topics from NFTs to ETFs, crypto adoption and interest, and beyond. She's especially fascinated by the philosophical and socioeconomic aspects of crypto. She holds a Bachelor of Social Sciences with Honors from the National University of Singapore. Follow the author on Twitter @solosbrqt
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