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Much excite, very wow: Meme coin volumes jump on local bourses

Economic TimesEconomic Times · 8m
Much excite, very wow: Meme coin volumes jump on local bourses

The trading of meme coins has seen a surge on Indian cryptocurrency exchanges, driven by the recent resurgence in the global crypto market. Meme coins like Shiba Inu, Dogecoin, Floki, Vita Inu, Doge Bonk, and PepePAD accounted for around half of the total trading value on the top three Indian exchanges. While these highly volatile and risky coins had a 30% share in the value of crypto trades in India, their popularity has increased as investors look for quick returns. Despite their low prices, meme coins have been gaining value rapidly, boosted by social media communities. The rise of meme coins indicates a shift in investor interest towards these assets, but speculative buying may also be a factor.

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