🔊🔊🔊Crypto Experts Argue Over Meme Currencies as institutional investors Gain interest

After Iggy Azalea's Vitalik Buterin reaction, crypto experts debate celebrity meme currencies' worth.

Since January, institutional investors' meme currency holdings have increased approximately 300%.

🔊🔊Top meme coin holdings by institutional investors: SHIB, DOGE, PEPE.

🔊After musician Iggy Azalea mocked Ethereum co-founder Vitalik Buterin, meme coins ignited online debate among crypto professionals on Thursday. According to crypto exchange Bybit, institutional investors' meme coin holdings have surged 300% since January.

Despite institutional investors' large ownership, meme currencies provoke controversy.

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


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

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

Institutional investors owned 36% of DOGE, while individual investors held 24.5%.

See Solana-based Pump.fun bags $30 million from meme token launches

"This suggests that while both groups view DOGE as a staple asset within the meme coin space, institutions favor it more, perhaps due to its higher liquidity and relative stability," Bybit.

But the other two meme coins were close following.

The survey said, "Both cohorts also enjoy Ethereum-based meme coins (PEPE) and (SHIB), with retail users holding 20.95% and 14.61%[,] respectively, compared to institutions' 22.23% and 10.39%."

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