Meme coins now hold 13% of India’s cryptocurrency market, with Dogecoin nearly matching Bitcoin in popularity.
Young investors from tier-2 and tier-3 cities are driving the surge in meme coin trading.
Bitcoin offers stability, while Dogecoin thrives on social media hype and Elon Musk’s influence.
The Indian cryptocurrency market is seeing a surprising trend. Meme coins, which started as internet jokes, are now taking a 13% share of the country’s crypto investments. Among them, Dogecoin is the star performer, almost equal to Bitcoin in popularity among Indian retail investors. Data from the second quarter of 2025 shows that Bitcoin holds about 6.5% of the total investor
interest in India, while Dogecoin stands very close at 6.49%. Together, they represent the growing contrast between a traditional crypto leader and a meme-driven digital currency that thrives on hype and community support.
Dogecoin has grown from a coin with a dog logo to a serious trading asset for young investors. It is cheap, easy to buy, and highly visible on social media. In India, its price trades between Rs. 18 and Rs. 19, and it still sees heavy trading despite recent small declines.
The coin gained wide-reaching fame due to support from global personalities and internet communities. Every time Dogecoin trends on social media or Elon Musk tweets about it, prices tend to move sharply. Analysts expect the price could reach around $0.42 in the coming months, which would be almost 80% higher than current levels if market interest remains strong.
This rise shows that many Indian investors are willing to take risks for quick gains, especially with low-priced coins that feel more approachable than Bitcoin or Ethereum.
Even with the rise of meme coins, Bitcoin remains the most trusted cryptocurrency in India. It is often called “digital gold” because investors see it as a store of value and a safer option compared to meme coins.
Bitcoin’s price is much higher than Dogecoin's, but Indian investors continue to show interest thanks to its strong history and global recognition. It remains the prime choice for long-term holders, while Dogecoin attracts those looking for fast movements and excitement.
Bitcoin accounted for a large portion of investor interest in India and also led the trading volume charts. Its limited supply of 21 million coins and acceptance by international institutions give it a sense of stability in a market full of volatility.
Apart from Dogecoin, other meme coins like Shiba Inu, PEPE, and Bonk are also gaining popularity in India. Together, all meme coins hold over 13% of the market share.
Shiba Inu takes around 4.7% of investor attention. Its ecosystem includes its blockchain called Shibarium, NFTs, and staking options that allow users to earn rewards.
PEPE, inspired by the popular internet frog meme, contributes around 2%.
Newer tokens like Bonk and Little Pepe are attracting younger investors who are drawn to fun branding and community-driven trading.
Investors are not only interested in long-established coins like Bitcoin and Ethereum but also in community-driven projects that can deliver high returns in short bursts.
Also Read: How Rare is Owning Bitcoin in 2025? Less Than 1% Have it
Most of the crypto investors in India are between 26 and 35 years old, and many of them are based in tier-2 and tier-3 cities such as Jaipur, Lucknow, Nagpur, and Patna.
In the first half of 2025, the overall crypto trading volume in India doubled, reaching about $1.9 billion in a single quarter. Kolkata has emerged as one of the most profitable regions, with a large portion of investors reporting gains in their portfolios.
This shift to smaller cities shows that cryptocurrency is no longer limited to big metropolitan investors. Young Indians outside the metros are actively joining the market, often using mobile apps and social media as their primary sources of market information.
Even with this growth, the Indian crypto market operates under uncertain regulations. There is no full ban, but also no clear legal framework. Investors must pay 30% tax on gains and 1% TDS on transactions, which adds to the cost of trading.
Meme coins, while popular, are extremely volatile. Their value depends mostly on hype and social media trends, rather than real-world use. This makes them risky for long-term holding. A sudden drop in interest can lead to large losses for investors.
Bitcoin continues to be a relatively stable option because it has a fixed supply, global acceptance, and institutional support. It still carries market risks but is less likely to collapse due to a viral trend fading.
The current market highlights the difference between Bitcoin and Dogecoin:
Bitcoin represents stability, scarcity, and long-term trust. Investors see it as a digital form of gold.
Dogecoin displays community hype, affordability, and fast-moving speculation.
Interestingly, both coins have almost equal popularity among Indian retail investors. This suggests that the market is divided between those who prefer stability and those who are willing to gamble on trends.
Also Read: How Memecoin Communities are Changing the Crypto Market?
If social media trends continue, meme coins could keep attracting a large number of small investors. Many experts believe that Dogecoin and Shiba Inu will remain popular as long as they continue to appear in news headlines and viral posts.
However, long-term success depends on whether these coins can add real utility beyond memes. For now, high risk and high reward define the space.
Bitcoin, on the other hand, will likely continue to lead the market, especially among investors looking for security and long-term growth. Its history and global recognition make it a safe anchor in a market dominated by trends and hype.
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