Chainplay's study, "Status of Meme Coins," found a gap between investors who have purchased meme cryptocurrencies (63.9%) and those who avoid them (36.1%).
The majority of investors who buy meme coins (69%) do so for fun. However, 79% still perceive them as long-term investments with the potential for profit, although 70% suspect that most of these assets are fraudulent. In addition, 73% equate investing in meme tokens with simple gambling.
Chainplay research statistics on meme coins. 👆
According to nearly 64% of respondents, the main concerns about meme coins are related to fraud, so more than half (55.13%) are skeptical about the future of these assets. The study also found that 92% spend less than 25% of their cryptocurrency portfolio on these types of tokens.
Currently, the top meme coins have a combined net worth in excess of $17 billion. Leading the top 5 this week is Dogecoin (DOGE), which is up 9.9% against the US dollar. Shiba Inu (SHIB) also saw growth, albeit at a slower rate of 1.6%. The third-largest cryptocurrency by market capitalization, Pepe (PEPE), has suffered a downturn, losing 10.9% over the past week.
Results of chainplay research on meme coins.👆
In the study, one in five cryptocurrency investors surveyed said they were introduced to digital currencies through meme coins. Of those who buy them, 32% have less than a year of investment experience. This suggests that the hype around such cryptocurrencies attracts mainly beginners.
When asked about the factors driving price growth, the most popular answers were celebrity endorsements, partnerships with major brands and applications. However, more than half of respondents are skeptical about meme tokens created by artificial intelligence (AI).$SHIB $DOGE $PEPE
