- TikTok has become a significant platform for crypto meme coin enthusiasts.
- Meme content on the platform reached an all-time high during the May 2023 rally.
- Gen Z dominates the #memecoin trend on TikTok, followed by millennials.
Recent data illustrates that TikTok has emerged as a powerful platform for crypto enthusiasts, particularly those interested in meme coins.
According to data from CoinGecko, TikTok interest in crypto meme coins hit an all-time high during the May 2023 meme coin rally, with the #memecoin hashtag reaching its maximum level.
The report noted that this surge in interest suggests that the crypto TikTok community is thriving, even in the face of a bearish market. It compared the previous meme coin mania in November 2021 and observed that the volume for #memecoin in May 2023 was twice as high, indicating a growing appetite for speculative assets.
Dogecoin (DOGE) and Shiba Inu (SHIB) were among the most profitable meme coins during this period. However, the meme rally was led by coins like Pepecoin (PEPE) and ArbDoge AI (AIDOGE), significantly increasing TikTok users’ interest in meme coins.
In April 2023, the hashtag’s interest level rose to 38, compared to the 20s range it had maintained for over a year. In May 2023, interest in #memecoin on TikTok grew by approximately 2.6 times compared to April.
During the meme coin rally, TikTok creators generated around 5,000 posts tagged with #memecoin, accounting for 26.3% of all #memecoin content on the platform. These posts garnered 33 million views, representing 19.0% of all #memecoin content views on TikTok.
Notably, most TikTok users interested in #memecoin were from the Gen Z age group (18 to 24 years old), comprising 56% of the viewers. Millennials aged 25 to 34 made up the second-largest group at 29%, while users above 35 were a minority.
Interestingly, TikTok users in Bulgaria, Norway, Estonia, Iceland, and Denmark displayed the highest interest in the #memecoin hashtag, surpassing the average interest levels by 4.5 to 6.4 times.