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CoinShares report reveals that meme cryptocurrency market faces risks amid growth
According to CryptoPotato, since its inception in 2013, the meme market has seen significant growth, with the total market capitalization reaching $60 billion by June 2024. In March alone, this asset class attracted $13 billion in spot trading volumes on exchanges. Surpassing major cryptocurrencies such as Ethereum and Solana. However, this sector is not without risks.
A recent CoinShares report highlights the significant risks of market manipulation and liquidity challenges in the meme market due to the extreme concentration of assets among a small number of coin holders. Larger holders, often referred to as “whales,” can significantly influence the price of a token by placing large trades, resulting in volatility. If a small number of addresses hold most of the tokens, liquidity issues may arise, especially if these addresses also control the provision of liquidity on decentralized exchanges.
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