According to the user holdings data on its platform, institutional investors' holdings in spot meme coins increased from US$62.5 million to US$204.8 million from February to March this year, and further peaked in April, with a total holding of US$293.7 million, an increase of more than 300%.

However, as institutional investors chose to take profits in May, institutional investors' holdings in meme coins have now dropped to US$125 million.

Among all the meme coins on the market, institutional investors still like Dogecoin (DOGE), Shiba Inu Coin (SHIB), PEPE Coin and the new upstart BONK on Solana:

Perhaps because of its higher liquidity and stability, Dogecoin's holdings account for the largest share, with institutional investors' funds allocated to it reaching 36%; at the same time, they also allocated 22.23% and 10.39% to PEPE and SHIB; and among the new meme coins that emerged this year, BONK is the most favored by institutional investors, attracting a total of more than US$75 million in funds.

#山寨季何时到来？