Meme Coins Surge in India, Dogecoin Nearly Outpaces Bitcoin

Meme coins captured 13.2% of India’s cryptocurrency investments in the quarter ending June 2025, with Dogecoin (6.49%) edging out Ethereum (5.2%) and nearly surpassing Bitcoin (6.5%) as the top asset, according to CoinSwitch’s Q2 2025 report. The report, analyzing 350+ coins on the platform, highlights Dogecoin’s lead among meme coins, followed by Shiba Inu (4.7%) and PEPE (2%), reflecting a growing appetite for high-risk, community-driven tokens among Indian investors.

Layer-1 tokens, powering blockchain networks like Ethereum and Solana, dominated with a 35.52% share, while meme coins secured 19.50%, outpacing DeFi (12.3%), gaming (8.7%), and layer-2 tokens (4.6%). Together, these categories accounted for 81.08% of investments, signaling a diversified yet meme-heavy portfolio trend. Delhi led regional investments with 14.6%, followed by Bengaluru (6.8%) and Mumbai (5.2%), but Tier-2 and Tier-3 cities like Jaipur, Lucknow, and Patna showed robust adoption, with Kolkata boasting 75.61% of portfolios in profit.

Dogecoin, trading at $0.2225 with a $33.45 billion market cap as of July 30, benefits from its accessibility and endorsements from figures like Elon Musk, despite its unlimited supply and inflationary nature. Bitcoin, priced at $118,894.37 with a $2.34 trillion market cap, remains the “digital gold” but faces competition from meme coins’ speculative allure. Posts on X, like @reallive3tv, echo this, noting Dogecoin’s 6.49% share and meme coins’ 13.2% dominance, while @web3cryp highlights Dogecoin’s 2.8 million holders and meme coins’ $60 billion market cap.

Also Read: Monsoon Session: Government Cracks Down on Cyber Fraud with AI Tools and Digital Intelligence Platform!

CoinSwitch co-founder Ashish Singhal noted, “India’s grassroots adoption is expanding beyond Tier-1 cities, driven by a digitally savvy population.” The report underscores India’s evolving crypto landscape, with meme coins’ low entry barriers and social media hype fueling their rise, though their volatility—exemplified by Dogecoin’s 167% surge in Q4 2024—demands cautious investment.

Also Read: Congress Erased from Meghalaya Assembly as Lone MLA Ronnie V Lyngdoh Joins Ruling NPP!