🔊Cryptocurrency Experts Debate Meme Currency as Institutional Investors Gain Interest

After Iggy Azalea's Vitalik Buterin response, crypto experts debate the merits of celebrity meme currencies. Since January, institutional investors' holdings of the meme currency have increased by about 300%.

🔊🔊Institutional investors holding top meme coins: SHIB, DOGE, PEPE.

🔊After musician Iggy Azalea mocked Ethereum co-founder Vitalik Buterin, memecoin sparked online debate among cryptocurrency experts on Thursday. According to cryptocurrency exchange Bybit, meme coin holdings by institutional investors have increased 300% since January.

On Thursday, cryptocurrency experts debated the famous meme coin trend and its effects on investors. After Iggy Azalea shared a sarcastic meme image in response to Vitalik Buterin's statement about celebrity token launches and their influence on the space, the attacks began.

In 2024, institutional and individual investors hold 300% more meme coins. Institutional meme coin holdings increased 226% between February and March. Following the meme coin craze in February and April, retail ownership increased 478%.

Institutional investors own the most meme coins: PEPE, SHIB and DOGE.

Institutional investors own 36% of DOGE, while individual investors hold 24.5%.

Watch Solana-based Pump.fun earn $30 million from meme token launch

Bybit: “This suggests that while both groups consider DOGE to be the primary asset in the meme coin space, institutions favor it more, perhaps due to its higher liquidity and relative stability its".

But the other two meme coins also followed closely.

“Both groups also favor Ethereum-based meme coins (PEPE) and (SHIB), with retail users holding 20.95% and 14.61%[,] respectively,” the survey said. 22.23% and 10.39% of institutions.” #Write&Earn $PEPE $SHIB