Why are memecoins so popular among traders?
More than half (55.13%) also expressed doubts about the future of these assets. The results of this study showed that 92% of those who buy memecoin allocate less than 25% of their digital currency portfolio to this type of assets.
Additionally, 51 perce of them spend less than an hour researching before investing, primarily focusing on meme popularity, social media activity, and community engageme. In the study, one in five investors surveyed globally said they were iroduced to cryptocurrencies through the use of memecoins.
Among those buying memecoins, 32% had less than a year of experience in the market. This shows that hype and hype about memecoins can attract new eras to the market. When asked about poteial growth drivers for memecoins, participas cited celebrity endorsemes and partnerships with big brands.
