Institutional investors have increased their allocations to meme coins by over 300% this year, with a peak of almost $300 million in April. Bybit reports that this surge in interest highlights the growing appeal of the sector among professional investors. Dogecoin and shiba inu were the most popular choices due to their liquidity, while BONK emerged as the most favored new meme coin. However, holdings dropped by almost half to $125 million in May as institutions took profits.
Institutional Allocations to Meme Coins Surge Over 300% This Year, Reaching Almost $300 Million in A
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