Meme coins, cryptocurrencies inspired by internet memes and fueled by community hype, have taken Indonesia and its Southeast Asian neighbors by storm. With Indonesia ranking third globally in crypto adoption in 2024, according to the “Indonesia Crypto and Web3 Industry Report 2024,” meme coins have become a favorite among the country’s 22.91 million registered crypto investors. Neighboring countries like the Philippines, Malaysia, and Vietnam also show significant interest, driven by social media buzz and accessible decentralized exchanges (DEXs). Here’s a look at the most popular meme coins in Indonesia and its neighbors as of 2025.
Indonesia: Dogecoin and Pepe Lead the Pack
In Indonesia, meme coins have outshone traditional cryptocurrencies like Bitcoin in popularity, with Dogecoin (DOGE) and Pepe (PEPE) dominating the market. According to a February 2025 report by Kompas, Dogecoin, featuring the iconic Shiba Inu dog, has seen a staggering 363.92% price increase over the past year, boasting a market capitalization of $55.5 billion, making it the seventh-largest cryptocurrency globally. Its affordability (around IDR 4,000 per coin) and cultural resonance have made it a top choice for Indonesian investors.Pepe, inspired by the “Pepe the Frog” meme, is another favorite, with its 420.68 trillion token supply and significant trading volume on DEXs like PancakeSwap. The coin’s viral appeal and community-driven hype have fueled its popularity, especially among younger investors drawn to its humorous branding. The report also notes that Indonesia’s crypto market saw transactions worth IDR 650.61 trillion in 2024, a 335.91% increase from 2023, with meme coins driving much of this growth.Baby Doge Coin (BABYDOGE) has also gained traction, highlighted by a January 2025 post on X from @BabydogeFuun, noting its feature on Liputan 6 as one of Indonesia’s top meme coins after Dogecoin. Its community-focused initiatives, like token burns and charitable campaigns, have resonated with Indonesian investors.
Philippines: Floki and Shiba Inu Shine
The Philippines, ranking fourth globally in meme coin interest in 2023 per CoinGecko, continues to embrace meme coins in 2025. Floki (FLOKI), inspired by Elon Musk’s Shiba Inu dog, leads with 26.7% of the country’s meme coin interest, thanks to its multi-chain compatibility (Ethereum and Binance Smart Chain) and features like the “Valhalla” metaverse game. Shiba Inu (SHIB), with 18.3% interest, follows closely, bolstered by its ShibArmy community and ecosystem expansions like ShibaSwap and Shibarium.Other notable coins include Bonk (BONK), a Solana-based token with 17.8% interest, and Baby Doge Coin and Pepe, with 12.7% and 10.2% respectively. Filipinos are drawn to lesser-known meme coins, seeking early investment opportunities rather than chasing trending tokens, a trend noted by CoinGecko in 2023.
Malaysia: Shiba Inu and Emerging Tokens
Malaysia, ranking ninth in global meme coin interest in 2023, shows a preference for Shiba Inu, which aligns with its broader Southeast Asian popularity. With 1.55% of global meme coin interest, Malaysia’s crypto community is active on social media platforms like X and Telegram, where hype drives investment. Emerging coins like Bonk and Floki are also gaining ground, particularly on DEXs, as Malaysia’s tech-savvy youth explore speculative assets. The country’s regulatory openness to crypto, as noted in a 2023 CoinGecko report, supports this growing interest.
Vietnam: Rising Crypto Hub
Vietnam, fifth in global crypto adoption in 2024, mirrors Indonesia’s enthusiasm for meme coins. While specific data on Vietnam’s meme coin preferences is sparse, the country’s high crypto transaction volume suggests alignment with regional trends favoring Dogecoin, Shiba Inu, and Pepe. Vietnam’s young, digitally native population and increasing DEX usage, as reported by Kompas, indicate a strong market for meme coins driven by social media trends.
Why Meme Coins Thrive in Southeast Asia
Meme coins’ popularity in Indonesia, the Philippines, Malaysia, and Vietnam stems from their low entry cost (often fractions of a cent), vibrant online communities, and speculative potential. Platforms like Pump.fun have facilitated the launch of millions of meme coins since 2024, making them accessible via DEXs. Social media, particularly X, amplifies hype, with influencers and communities like the ShibArmy or Floki Vikings driving momentum. However, volatility remains a concern, with coins like $Melania (launched by Melania Trump in January 2025) losing 90% of their value within weeks.
Risks and Outlook
While meme coins offer high-reward potential, their reliance on hype makes them prone to sharp declines. Scams, such as rug pulls and fraudulent airdrops, are prevalent, as seen in early 2025 when hackers hijacked government X accounts to promote fake coins like “CUBA” and “MALAYSIA.” Investors in the region are advised to research thoroughly, focusing on coins with strong communities and trans
