Memecoins Gain Momentum, Finding a Home on TikTok to Reach Gen Z

The rise of memecoins is gaining momentum, particularly through the popular video-sharing platform TikTok, which has increasingly become a hub for promoting these cryptocurrencies.

The popularity of memecoins is surging, largely thanks to the popular video-sharing platform TikTok, which has become a hotbed for promoting these cryptocurrencies.

One shining example is the CHILLGUY token, which is linked to a ubiquitous meme featuring a cartoon dog and was launched on the Solana-based platform Pump.Fun just two months ago.

Now, CHILLGUY boasts a market capitalization of $374 million, with a mind-boggling price increase of 251% in just 24 hours and an incredible 482,270% over the past week, despite having a liquidity level of only $4.7 million.

The token's rapid ascent can be attributed to the virality of its meme across multiple social media platforms, particularly TikTok.

Videos on TikTok, which has over a billion monthly active users, are playing a pivotal role in this phenomenon.

One popular post humorously captures the essence of the CHILLGUY token's appeal, while another tweet about the meme garnered 1.5 million impressions.

According to experts, TikTok's youthful demographic, primarily Gen Z, is driving this trend. Suki Yang, founder of the memecoin platform LMAO, observed that while platforms like Twitter cater to established crypto investors, TikTok attracts more casual users who can make coins go viral.

Nicolai Søndergaard from the blockchain analytics firm Nansen highlighted that Gen Z's skepticism towards traditional financial systems and preference for immediate results are shaping their engagement with cryptocurrencies.

Overall, TikTok seems to be becoming a key player in the creation and promotion of memecoins, impacting both the culture around them and the financial landscape of the cryptocurrency market.